Lucid Group, Inc. (LCID) Bundle
A Brief History of Lucid Group, Inc. (LCID)
Company Overview
Lucid Group, Inc. is an American electric vehicle manufacturer headquartered in Newark, California. Founded in 2007 as Atieva, the company rebranded to Lucid Motors in 2016.
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Revenue | $154.8 million |
| Net Loss | $1.24 billion |
| Cash on Hand | $3.24 billion |
| Stock Price (as of January 2024) | $3.12 |
Production Metrics
- Total Lucid Air vehicles produced in 2023: 8,428 units
- Projected annual production capacity: 14,000 vehicles
- Current manufacturing facility located in Casa Grande, Arizona
Vehicle Models
Primary vehicle model: Lucid Air, with variants including:
- Lucid Air Pure
- Lucid Air Touring
- Lucid Air Grand Touring
- Lucid Air Sapphire
Key Specifications
| Model | Range | 0-60 mph | Starting Price |
|---|---|---|---|
| Lucid Air Pure | 410 miles | 3.8 seconds | $78,900 |
| Lucid Air Touring | 425 miles | 3.4 seconds | $95,000 |
| Lucid Air Sapphire | 359 miles | 1.89 seconds | $249,000 |
Investor Information
Publicly traded on NASDAQ since July 2021 via SPAC merger with Churchill Capital Corp IV.
- Ticker Symbol: LCID
- Market Capitalization (January 2024): $3.1 billion
- Institutional Ownership: 62.3%
Who Owns Lucid Group, Inc. (LCID)
Major Institutional Shareholders
| PIF Investment Ltd. | 61.5% |
| Vanguard Group Inc. | 5.23% |
| BlackRock Inc. | 4.81% |
| Altimeter Capital Management LP | 4.47% |
Top Individual Shareholders
- Peter Rawlinson (CEO/CTO): 0.52% ownership
- Derek Jenkins (SVP Design): 0.07% ownership
Ownership Breakdown
Public Float: 38.5%
Insider Ownership: 1.2%
Significant Ownership Details
Public Investment Fund (PIF) of Saudi Arabia remains the largest shareholder with 61.5% controlling stake, representing 378,124,000 shares as of Q4 2023.
Lucid Group, Inc. (LCID) Mission Statement
Company Overview
Lucid Group, Inc. is an electric vehicle manufacturer headquartered in Newark, California. Founded in 2007, the company focuses on developing and producing premium electric vehicles.
Financial Performance
| Metric | 2023 Value |
|---|---|
| Revenue | $154.8 million |
| Net Loss | $1.16 billion |
| Cash and Cash Equivalents | $1.39 billion |
| Total Vehicle Production | 8,428 vehicles |
Key Strategic Objectives
- Develop high-performance luxury electric vehicles
- Expand production capabilities
- Advance battery and powertrain technology
- Increase market share in premium EV segment
Product Portfolio
| Model | Starting Price | Range |
|---|---|---|
| Lucid Air Dream Edition | $169,000 | 520 miles |
| Lucid Air Pure | $82,400 | 410 miles |
Manufacturing Capacity
Production facility located in Casa Grande, Arizona, with a planned annual capacity of 90,000 vehicles.
How Lucid Group, Inc. (LCID) Works
Company Overview
Lucid Group, Inc. is an electric vehicle manufacturer headquartered in Newark, California. Founded in 2007, the company designs, develops, and manufactures luxury electric vehicles.
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Annual Revenue | $154.8 million |
| Net Loss | $1.43 billion |
| Cash and Cash Equivalents | $1.46 billion |
| Stock Price (as of January 2024) | $3.12 |
Vehicle Production
Lucid's primary manufacturing facility is located in Casa Grande, Arizona.
| Production Metric | 2023 Data |
|---|---|
| Total Vehicles Produced | 8,000 units |
| Lucid Air Models Delivered | 6,500 units |
Product Lineup
- Lucid Air Dream Edition
- Lucid Air Grand Touring
- Lucid Air Pure
- Lucid Gravity SUV (upcoming)
Vehicle Specifications
| Model | Range | 0-60 mph |
|---|---|---|
| Lucid Air Dream Edition | 520 miles | 1.97 seconds |
| Lucid Air Grand Touring | 516 miles | 3.0 seconds |
Technological Capabilities
Lucid's key technological differentiators include:
- In-house developed electric powertrain
- Advanced battery technology
- Proprietary thermal management system
Market Position
Positioned in the luxury electric vehicle segment, competing with Tesla and other premium EV manufacturers.
How Lucid Group, Inc. (LCID) Makes Money
Vehicle Sales Revenue
Lucid Group generates primary revenue through the sales of luxury electric vehicles, specifically the Lucid Air model. As of Q3 2023, the company reported:
| Vehicle Model | Average Selling Price | Quarterly Production |
|---|---|---|
| Lucid Air Dream Edition | $169,000 | 1,398 units |
| Lucid Air Touring | $95,000 | 897 units |
Manufacturing and Technology Segments
Lucid generates additional revenue through:
- Electric powertrain technology licensing
- Battery system development
- Automotive engineering services
Financial Performance
Financial metrics for 2023:
| Financial Metric | Amount |
|---|---|
| Total Revenue | $598.4 million |
| Gross Profit | $-376.5 million |
| Net Loss | $-1.15 billion |
Revenue Streams
- Direct Vehicle Sales: Primary revenue source
- Technology licensing agreements
- Potential government incentives
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