![]() ![]() ![]() Lucid then said they would get 12,000 to 14,000 vehicles done, which was scaled back to a 6,000 to 7,000 range. But, due to some supply shortages and coordination of resources, the brand scaled back that goal. Lucid initially claimed it would produce about 20,000 air-electric cars this year. Lucid production struggles Lucid production line | David Paul Morris via Getty Images Was it successful? Have they overcome those problems by Lucid ramping production? Let’s find out. ![]() The brand made some creative moves to revamp parts of the company. Production took a significant hit this year because of it. However, the brand has had its fair share of struggles, including a recent bout with supply chain issues that many automakers faced. DISCLAIMER: Anthony is a Lucid Motors (LCID) stock holder.Lucid is one of the newcomers on the electric vehicle block, but it’s already impressed critics and car enthusiasts alike. He has a degree in Business Administration with a concentration in Finance. Please follow him on Twitter at for daily Lucid Motors news. He covers Lucid Motors news at Torque News. I know that I am certainly excited to hear what the PIF has done and hope to see them hold or even buy more shares.Īnthony Donati focuses on electric vehicles and renewable energy companies. Since the 13F for the PIF is coming up, based on historical data, I believe that this is an upcoming catalyst that no one has truly talked about. Lucid is starting construction on the Saudi Arabian Facility in the first half of 2022 which we should get more information about on the Q1 Earnings Call that will happen on May 5th. I do not believe that the PIF will sell their $LCID shares and if they did sell some, I believe it will be to fund Lucid Motors growth and expansion. In this case, it was Lucid Motors that received interest from other execs to come over, like Chief Technology Officer from Rivian Michael Bell who spent 15+ years at Apple. That makes recruiting some executives from the top tech companies much less difficult and allows an easier path to persuade those ex executives to come aboard to work at your company. Lucid Motors electric motors make the batteries that they use way more efficient and that allows for the increased range and performance. Their LucidAir Dream Edition received an EPA record 520 miles of range, even though their vehicle is one of the heaviest EVs sedans that has come to the market. Why is Lucid so admirable to former Tesla and Apple executives? It is because of Lucid Motors' state of the art technology. Now Elon has a new enemy in the PIF, the former Chief Engineer of the Tesla Model S and some high profile Tesla execs that jumped ship and went to Lucid Motors. The PIF was going to take Tesla private when Elon said that he was going to take $TSLA private at $420 But the PIF ended up backing out, selling their Tesla shares and buying a majority stake in Lucid Motors. Saudi Arabia is home to the world's largest oil fund, and the fact that they chose to invest into Lucid Motors and invest in renewable energy is huge for sustainable energy. Lucid Motors Majority Shareholders Are Not Just Investors ![]() Since we have heard time and time again that Lucid will be in the PIFs 2030 vision, it seems to me that the PIF will fund Lucid Motors rapid growth endeavors. When the 13F comes out for the PIF, which is estimated to come out sometime in mid May, we will find out the true answer to what the PIF indeed did with their $LCID shares. This was huge news since most if not all Lucid shorts were using the PIF selling as fuel to continue the push downward. What this tells Lucid Motors investors is that the PIF is a longterm partner for Lucid. Lucid Motors recently announced that they have received a 50,000 vehicle order from the Saudi Government with an option to buy 50,000 more. I truly believe this to be the case and we will find out if they did sell their shares during the next 13F that comes out for the PIF. I have written articles and said that the Saudi Arabian Public Investment Fund would not be selling any of their Lucid shares. For many of you that do not know, I am TheLucidVerse on Twitter. ![]()
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