Lucid Group Inc Stock News

Lucid Motors has officially started taking orders for its electric Gravity SUV, a critically important vehicle that's supposed to go into production by the end of this year. Interested buyers can now place $1,000 refundable deposits on the “Grand Touring” trim, which starts at $94,900, on the company's website.

Lucid Motors (NASDAQ: LCID) has been navigating turbulent waters following the recent U.S. presidential election, where Donald Trump's win has created a cloud of uncertainty over the electric vehicle (EV) sector.

Lucid Gravity Grand Touring starts at $94,900 * and is available to order now, while Lucid Gravity Touring will start at $79,900 *, with production scheduled for late 2025. Lucid Gravity delivers an expansive interior that comfortably seats up to seven adults and offers up to 120 cubic feet of cargo capacity.

A much hyped milestone has finally arrived for Lucid investors.

Former President Donald Trump's reelection victory is expected to send the U.S. auto industry into a period of uncertainty regarding electric vehicles. Republicans, led by the president-elect, have largely condemned EVs, claiming they are being forced upon consumers and that they will ruin the U.S. automotive industry.

The company said in an SEC filing that Saudi investors bought about 396 million shares.

The electric vehicle market has seen a flurry of activity in 2024 — spurred on by an intensified contest between trailblazer Tesla (NASDAQ: TSLA) and increasingly competitive Chinese rivals best exemplified by BYD (SHE: 002594).

Saudi Arabian investment funds completed the purchase of about $1 billion of shares of electric-vehicle maker Lucid.