Lucid Motors raises $1 billion in funding from Saudi Arabia to support production and sales of its luxury electric sedan.
Amount Raised
$1 Billion
Round Type
Funding Round
NewarkManufacturingManufacturingEnergyTransportationAutomotiveAutomotiveAutomotiveElectric VehicleInvestors
Description
Lucid Motors secured an additional $1 billion investment from its major financial backer, Saudi Arabia's Ayar Third Investment, to alleviate the financial burden of producing and marketing its luxury electric sedan. This funding follows the company's plan to increase its electric vehicle output and the challenges faced in finding buyers for its Air sedan.
Quick answer
Lucid Group raised $1 Billion in a Funding Round round, dated March 25, 2024. Investors: Ayar Third Investment, Saudi Arabia’s Public Investment Fund. Lucid Group is based in Newark, California, United States.
- How much did Lucid Group raise?
- Lucid Group raised $1 Billion in a Funding Round round on March 25, 2024.
- Who invested in Lucid Group?
- Ayar Third Investment, Saudi Arabia’s Public Investment Fund is named as investors in this round.
- What does Lucid Group do?
- Lucid's mission is to inspire the adoption of sustainable energy by creating advanced technologies and the most captivating luxury electric vehicles centered around the human experience.
- Where is Lucid Group based and how big is it?
- Lucid Group is based in Newark, California, United States. Fundz records about 6,800 employees.
- Who are the decision-makers at Lucid Group?
- Fundz holds 5 contacts at Lucid Group, including the Talent Acquisition Leader. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
Who else raised in Energy and Transportation around the same time
Companies in the same sectors as Lucid Group that raised within 45 days of this round, from Fundz verified event records.
- Ola Electric raised $50M (Debt Financing) on April 1, 2024.
- Dodai raised $4M (Series A) on March 24, 2024.
- Soriano Group raised $11M (Funding Round) on March 6, 2024.
- IM Motors raised $1.1B (Series B) on March 2, 2024.
- Powerdot raised $108M (Funding Round) on February 29, 2024.
- Polestar raised $950M (Funding Round) on February 28, 2024.
Who to call at Lucid Group, and when
A new round usually means Lucid Group is about to hire and buy. The teams that reach out first get the meeting.
- An alert the day Lucid Group raises, hires an executive or expands, scored against what you sell
- The decision-makers there, with verified emails
- Who you already know at Lucid Group, from your own LinkedIn network
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Related People
Lucid Group raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.
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