In 2007, Bernard Tse, Sam Weng, and Sheaupyng Lin founded Atieva with the intention of building electric vehicle batteries and powertrains for other manufacturers. In 2014, Beijing Automotive Industry Holding (BAIC) acquired a 25 percent stake in Atieva, and the company received investments from Tsing Capital, Mitsui, Venrock, and JAFCO. British engineer Peter Rawlinson joined Atieva in 2013 as Chief Technology Officer (CTO) and board member, having previously been Vice President of Engineering and Chief Engineer of the Model S at Tesla, Inc.
In October 2016, Atieva was rebranded as Lucid Motors, with the announced intent to develop a long-range, high-performance, all-electric vehicle. A prototype of the Lucid Air fully electric car was unveiled in December 2016. In November 2020, the Lucid Air Pure was announced with a projected range of 406 miles (653 km) and 480 hp (360 kW), with a starting price of US$77,400.
On November 29, 2016, Lucid executives announced the planned construction of a US$700 million manufacturing plant in Casa Grande, Arizona, projected to employ up to 2,000 workers by the mid-2020s, initially building 20,000 cars and expanding to 130,000 vehicles per year. In April 2019, Peter Rawlinson took on the role of CEO while remaining CTO and a board member, coinciding with a $1 billion investment from the Public Investment Fund of Saudi Arabia. Construction of the Arizona plant began in late 2019 and the first phase was completed in December 2020.
In February 2021, Lucid Motors announced a deal valued at $11.75 billion to merge with Churchill Capital Corp IV, becoming a publicly traded company on July 26, 2021. The Public Investment Fund owned 60 percent of Lucid at this time, and the investment yielded a short-term unrealized gain of $20 billion from its $2.9 billion investment. In June 2023, Lucid signed a $450 million agreement to develop and supply electric motors, powertrains, and battery systems for Aston Martin, receiving $132 million in cash, a 3.7 percent stake in Aston Martin worth $100 million, and a guaranteed purchase of at least $225 million in powertrain components.
Peter Rawlinson served as CEO from 2019 to 2025. Marc Winterhoff served as interim CEO in 2025, before Silvio Napoli was announced as the next permanent CEO on April 14, 2026, having previously been chairman and CEO of Schindler Group.
Lucid supplied battery packs for the Gen2 Formula E race cars from the 2018–2019 season through the 2021–2022 season, in collaboration with McLaren Applied Technologies and Sony. In July 2025, Uber Technologies, Nuro, and Lucid Motors announced a partnership to offer at least 20,000 Lucid Gravity cars modified with Nuro autonomous technology as level 4 self-driving cars on Uber's platform, planned for launch in 2026. Lucid will receive $300 million from Uber for this. In 2026, Lucid introduced the Lunar, a concept car proposed for use as a robotaxi.
Lucid began producing the Lucid Air sedan in Arizona in September 2021. Lucid produced 7,180 vehicles in 2022, and 8,428 vehicles in 2023. Production of the Lucid Gravity SUV began in December 2024. Lucid also plans to build a new midsize SUV in Saudi Arabia, with production starting in late 2026 and a target price of about $48,000. The company has teased three midsize models: the Cosmos, the Earth, and a third, unnamed model focused on adventure.
Gallery · 4 related images
