# Lucid Group

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/lucid-group

- Industry: Automobiles, Other Vehicles & Parts
- Headquarters: Newark, US
- Website: www.lucidmotors.com
- Total disclosed funding: $24M
- Latest round: Series B (Jan 20, 2011)
- Investors on record: 3

## About

Lucid Group, Inc. is an American manufacturer of luxury electric vehicles dedicated to delivering advanced mobility solutions through innovative technology and high-performance engineering.Founded in 2007, Lucid Group, Inc., headquartered in Newark, US, specializes in electric vehicles. The company was formed through the vision of its founder, Sam Weng, and later led by CEO Bernard Tse and Chief Technology Officer Peter Rawlinson. In December 2022, Lucid Group completed a funding round with a total amount raised of USD 750.014 mn, led by the Public Investment Fund, following a significant merger with Churchill Capital Corp. IV in July 2021. The company has participated in 16 deals, with the most recent deal occurring on December 19, 2022.Lucid Motors primarily specializes in the design and manufacture of luxury electric vehicles (EVs), counting its flagship model, the Lucid Air, released in 2021. The company aims to revolutionize the EV market by offering vehicles that balance range, efficiency, and technology. The Lucid Air has garnered attention for its long electric range and advanced features. Additionally, Lucid offers the Lucid Gravity, an electric SUV designed for families and adventure seekers, targeting environmentally conscious consumers across the United States, Canada, and parts of Europe.In the most recent year, 2024, Lucid Motors reported revenue of USD 807.83 mn, alongside an EBITDA of USD -2,692.15 mn. The company generates revenue primarily through direct sales of its electric vehicles, focusing on the high-end luxury segment. Customers can lease or finance vehicles through Lucid Financial Services, enhancing transactions. The revenue model emphasizes sales from the Lucid Air and Lucid Gravity, with potential additional revenue from maintenance services and software updates.Lucid Group, Inc. plans to launch new products, enhancing its lineup with upcoming electric vehicles. The company aims to expand into new geographic regions, particularly targeting markets in Europe and Asia by 2025. Recent funding from the December 2022 deal will support product development and market expansion initiatives, following a strategic merger with Churchill Capital Corp. IV in July 2021, which strengthened its market presence and operational capabilities.

## Funding rounds

- Series B, Jan 20, 2011, $24M — Venrock, Mitsui & Co. – Corporate Development Business Unit, Tsing Capital

## Investors

- Venrock (https://capitalatlas.ai/funds/venrock) — Series B
- Mitsui & Co. – Corporate Development Business Unit — Series B
- Tsing Capital (https://capitalatlas.ai/funds/tsing-capital) — Series B