Lucid Motors secured $1.5 billion in a convertible note from Saudi Arabia’s Public Investment Fund to support the launch of its Gravity SUV and build a new factory in Saudi Arabia.
Amount Raised
$1.5 Billion
Round Type
Convertible Note
NewarkManufacturingManufacturingEnergyTransportationAutomotiveAutomotiveAutomotiveElectric VehicleInvestors
Description
Lucid Motors announced a $1.5 billion investment from its largest shareholder, Saudi Arabia’s Public Investment Fund. This funding will support the production of the Gravity SUV and expansion of their product line until 2025.
Quick answer
Lucid Group raised $1.5 Billion in a Convertible Note round, dated August 7, 2024. Investors: Ayar Third Investment and Saudi Arabia’s Public Investment Fund. Lucid Group is based in Newark, California, United States.
- How much did Lucid Group raise?
- Lucid Group raised $1.5 Billion in a Convertible Note round on August 7, 2024.
- Who invested in Lucid Group?
- Ayar Third Investment and Saudi Arabia’s Public Investment Fund are 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.
- Aptera Motors raised $200K (Seed) on August 23, 2024.
- DeepDrive raised $33M (Series B) on September 19, 2024.
- Clean Electric raised $5.8M (Series A) on September 10, 2024.
- Nuvve raised $500K (Seed) on August 27, 2024.
- Ola Electric raised an undisclosed amount (Funding Round) on August 16, 2024.
- Ather Energy raised $71M on August 13, 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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