Lucid Group, Inc. is an American luxury electric vehicle manufacturer, previously known as Atieva. Founded in 2007, the company is headquartered in Newark, California. The brand's philosophy is "redefining luxury electric mobility," competing with brands like Tesla in the high-end market through its leading battery, motor, and electronics technology and extreme energy efficiency. Since 2018, the Saudi Public Investment Fund (PIF) has continued to invest in the company, holding approximately 58% of shares as of 2026, providing strong capital backing for the brand.
Lucid's origins date back to 2007, when Atieva was founded by three Silicon Valley engineers—Bernard Tse, Sam Weng, and Sheaupyng Lin—focusing on R&D of power batteries and electric drive systems. In 2016, the company renamed itself Lucid Motors, transitioning from a parts supplier to a vehicle manufacturer. A key turning point occurred in 2018 when the Saudi PIF injected over $1 billion in capital, allowing the AMP-1 factory in Arizona to break ground. This factory is North America's first greenfield facility built specifically for luxury electric vehicles.
In 2019, former Tesla Model S Chief Engineer Peter Rawlinson became CEO, leading the R&D of the first model, the Lucid Air. In September 2021, the Air officially went into production and was delivered in October. Since then, the brand has undergone multiple rounds of capacity ramp-up and capital supplementation. In 2025, the Air expanded its product line, and the Gravity SUV joined the ranks, delivering nearly 16,000 vehicles in its first year. In 2026, Silvio Napoli succeeded as CEO, with the brand fully betting on the mid-size platform and robotaxi business.
Lucid Air: The brand's debut model, ranked #1 in sales in the $100,000+ pure electric luxury sedan market segment for six consecutive quarters in 2025. The 2026 Grand Touring model delivers a maximum power of 819 horsepower and a range of 839 kilometers.
Lucid Gravity: The brand's first three-row luxury electric SUV, based on the 926V electrical architecture, with a starting price of around $80,000. It won the "World Luxury Car" award in 2026.
Mid-size Platform Series: Three models developed in total (starting price around $50,000). The first SUV, Cosmos, targets city roads and focuses on performance, while Earth leans toward suburban and various road conditions. Both are expected to debut in 2026. The platform uses a dual-zone architecture, an 800V system, and a brand-new Atlas drive unit, with 30% fewer components than the current generation.
Lunar: A two-seat unmanned taxi concept car with no steering wheel and no pedals. It shares the 69 kWh battery and Atlas motor architecture with the mid-size platform, with a theoretical range exceeding 400 miles.
In 2025, Lucid delivered 15,841 cars in total, a year-on-year growth of 55%, with revenue reaching $1.35 billion. In Q1 2026, production reached 5,500 units (year-on-year growth of 149%), with 3,093 units delivered. However, operational losses remain significant, with a profit loss of $2.7 billion in 2025. The brand targets producing 25,000 to 27,000 vehicles in 2026.
Efficient Three-Electric System: The Air Grand Touring leads the industry with an 839 km range. Its motor, inverter, and transmission are highly integrated, and lightweight patents significantly improve energy consumption performance.
Atlas Drive Unit: A brand-new electric drive system exclusive to mid-size vehicles, with weight reduced by 23% and components reduced by 30%.
Full-Stack Autonomous Driving: Hardware has been pre-installed with L4 level redundancy, ready for use at launch. The company plans to achieve hands-free driving on highways in 2026, release autonomous driving software subscriptions in 2027 ($69 to $199 per month), and aim to achieve $1 billion in annualized software revenue by the end of this decade.
Lucid has entered markets such as Europe, Canada, and the Middle East. In 2026, its first European retail partner landed in Germany. Beyond the U.S. market, Saudi Arabia is the brand's key strategic stronghold. Expansion into the Chinese market is still in the exploratory phase and has not yet been implemented on a large scale.
Lucid is undergoing a transformation from a "technology geek" to a "scale player." The key to success lies in whether the new mid-size vehicles can achieve scaled delivery on schedule, thereby reducing per-unit costs and boosting revenue. The company has reached a comprehensive cooperation agreement with Uber, planning to deploy at least 35,000 robotaxis. Relying on the continuous support of the Saudi PIF and the operational expertise of new CEO Napoli, Lucid is expected to achieve positive free cash flow before 2030, gradually moving from a lean startup car company to a place among global mainstream brands.
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