Lucid Group announced a significant financial boost today, revealing an agreement with Ayar Third Investment Company, an affiliate of the Public Investment Fund (PIF), for a $1 billion investment. This investment will come in the form of newly created series of convertible preferred stock through a private placement, contingent on customary closing conditions. The infusion […]
Electric vehicle maker Lucid Group announced widening losses for Q1 2023 but confirmed that it has enough cash to continue operations into 2024. The news resulted in shares dropping over 8% in after-hours trading. “We are on track to produce over 10,000 vehicles in 2023, with company-wide initiatives ongoing that will enable Lucid to pivot […]
Lucid Group has launched a new online store for customers to buy merchandise (via @SawyerMerritt). Right now, the store has various items available, such as Lucid-branded hats, mugs, water bottles, shirts, jackets, sweaters and more. Most have Lucid branding and also some note “Air”, referring to the company’s Lucid Air sedan, which has still yet […]
Lucid Group announced on Tuesday it is recalling nearly 200 of its Lucid Air electric sedans over a safety defect. According to Bloomberg, the safety defect is from a piece related to the Lucid Air’s front strut dampers, that might have been installed improperly by a supplier. “This condition may result in a sudden loss […]
