[9] Other investors include large index fund managers like the Vanguard Group, BlackRock, and State Street Corporation.

[11][12] In 2011, Atieva began working with lithium-ion cell maker Lishen to build battery packs for electric buses in China.

[9] The investment would fund the final engineering, testing and production of the Lucid Air, the first-phase construction of its manufacturing plant in Arizona,[24] and its worldwide retail strategy, beginning in North America.

[29] In February 2021, Lucid Motors announced a deal valued at $11.75 billion to merge with Churchill Capital Corp IV, a publicly-traded special-purpose acquisition company (SPAC).

[45] In November 2020, The Lucid Air Pure was announced with 406 mi (653 km) of projected range and 480 hp (360 kW) and a starting price of US$77,400.

[46] On September 16, 2020, the US Environmental Protection Agency (EPA) rated the range of the Lucid Air to be 520 miles (840 km) on a single charge.

[51] In July 2017, while running on the high-speed track at the Transportation Research Center in Ohio, a special version of the car (with the speed limiter disabled via software and other modifications) hit 235 mph (378 km/h).

[61][62] Lucid teased an electric SUV concept in September 2020 called Project Gravity with only a brief image and short video segment.

The patents show that the Gravity features sleek headlamps similar to those of the Lucid Air as well as a visibly short hood and a large windscreen.

In addition, the patents show that the side of the vehicle has a horizontal beltline as well as a sleek, wide windows, and quarter glass panels.

[64] On November 16, 2023, the vehicle was officially unveiled at the 2023 Los Angeles Auto Show, with an anticipated delivery date of late 2024 for the 2025 model year.

The SUV will feature a 440 mile range via a dual motor electric powertrain and a 0–60 time of 3.5 seconds, with a starting price of under $80,000.

[81][82] The Formula E specification[83] called for a battery weight of 250 kg (550 lb), 54 kWh energy, and peak power of up to 250 kW.

[89] Lucid announced in 2025 that starting January 31, 2025, the Gravity SUV will be delivered with a NACS port, but that the Air sedan will still require an adapter when it gains access to the Supercharger network in the second quarter of 2025.

[91] In December 2019, Lucid broke ground on a factory in Casa Grande, Arizona, the first greenfield facility for EV manufacturing in the United States.

[94] On February 28, 2022, Lucid announced a long-term plan to build a new manufacturing plant in Saudi Arabia with the capability of producing 150,000 vehicles per year.

[95] The Saudi Arabian government announced on April 27, 2022, that it plans to buy at least 50,000 and possibly up to 100,000 electric vehicles from Lucid Motors over the course of a decade.

The government selected Lucid Motors because the company is building its first international manufacturing plant in Saudi Arabia, with a goal of producing 150,000 cars annually.