Who Makes the Lucid Car? Ownership, CEO & 2026 Models
Lucid Motors is owned by Lucid Group, Inc., a publicly traded American company — but the majority owner behind that company is Saudi Arabia’s Public Investment Fund (PIF), which holds a 56.8% stake as of an April 2026 Series C investment. Lucid itself is headquartered in Newark, California, and builds its cars at factories in Casa Grande, Arizona, and King Abdullah Economic City, Saudi Arabia.
Who Really Owns Lucid Motors?
Lucid Group, Inc. is the publicly traded parent company (Nasdaq: LCID) that owns Lucid USA, Inc., the operating automaker behind the Lucid Air and Lucid Gravity. But ownership of the company itself is now dominated by one investor: Saudi Arabia’s Public Investment Fund (PIF).
PIF first invested in Lucid in 2018 through a $1 billion commitment and has continued pouring money into the company through multiple funding rounds since, as Lucid has repeatedly burned through cash faster than it sells cars. In April 2026, PIF’s subsidiary Ayar Third Investment Company closed a $550 million Series C preferred stock purchase — 55,000 shares at $10,000 each, carrying a 9% compounding payment-in-kind dividend — pushing PIF’s beneficial ownership stake to 56.8%, a clear majority. Shareholders approved the deal along with three related proposals.
Uber is a much smaller investor by comparison, but a real one: Uber has committed a total of $500 million to Lucid, including a $200 million follow-on investment tied to the companies’ robotaxi partnership (Lucid supplies the Gravity SUV platform for Uber’s autonomous ride-hailing plans).
Lucid’s Leadership: A New CEO in 2026
Lucid was led for years by Peter Rawlinson, the former chief engineer of the Tesla Model S, who joined as CEO and CTO in 2019 after earlier stints at Lotus, Jaguar, and Aston Martin. Rawlinson stepped down abruptly on February 25, 2025, amid mounting losses and the difficult launch ramp of the Gravity SUV, moving into an advisory role reporting to board chair Turqi Alnowaiser. Chief Operating Officer Marc Winterhoff took over as interim CEO while the board searched for a permanent replacement.
That search ended in April 2026 with the appointment of Silvio Napoli as Lucid’s permanent CEO. Napoli spent decades in senior leadership at Schindler Group, the elevator and escalator manufacturer — an unusual background for an EV company, but one the board framed around his experience scaling complex global manufacturing operations. His appointment came alongside a fresh capital raise of more than $1 billion and an expanded push into robotaxi technology.
What Cars Does Lucid Actually Make? (Air and Gravity)
Lucid builds two model lines today, not one — a gap in a lot of older coverage of the brand.
- Lucid Air — the company’s original luxury sedan, still positioned against the Tesla Model S and Mercedes EQS. The 2026 lineup starts at $70,900 for the base Pure trim and runs to $114,900 for the Touring/Grand Touring range, with the track-focused Sapphire performance trim priced at $249,000.
- Lucid Gravity — a three-row luxury SUV that started shipping to customers in late 2024. The 2026 Gravity starts at $81,550 for the Touring trim (560 hp, 89-kWh battery, an estimated 337-mile range) and tops out at $141,550 for the Dream Edition, with the Grand Touring trim producing 828 hp and an estimated 450-mile range from its larger 123-kWh battery.
Both cars are built on Lucid’s in-house “Wunder” battery and drive-unit technology, which Rawlinson’s engineering team originally developed to push efficiency and range higher than what Tesla was achieving at the time — the Air Grand Touring’s EPA-rated range has been one of the highest of any production EV.
Where Are Lucid Cars Built?
Lucid’s primary US factory, AMP-1, is in Casa Grande, Arizona, and builds both the Air and the Gravity. Lucid also operates a second assembly plant, AMP-2, in King Abdullah Economic City, Saudi Arabia — a facility built with PIF backing that is on track to reach full-scale production in 2026, giving Lucid a manufacturing footprint tied directly to its largest shareholder’s home country.
Frequently Asked Questions
Who is Lucid Motors owned by?
Lucid Motors is owned by Lucid Group, Inc., a publicly traded American company (Nasdaq: LCID). The largest shareholder in Lucid Group is Saudi Arabia’s Public Investment Fund (PIF), which holds a majority 56.8% stake as of April 2026.
Is Lucid owned by Saudi Arabia?
Yes, in terms of majority ownership. Saudi Arabia’s Public Investment Fund (PIF) holds a 56.8% beneficial ownership stake in Lucid Group as of 2026, making it Lucid’s controlling shareholder. Lucid remains headquartered and engineered in Newark, California, and is still run day-to-day by its own American leadership team, but PIF’s investment has been essential to keeping the company funded through years of losses.
Who is Lucid’s CEO in 2026?
Silvio Napoli became Lucid’s permanent CEO in April 2026, following a search that began after former CEO Peter Rawlinson stepped down in February 2025. Napoli previously spent decades in leadership roles at Schindler Group.
How much do Lucid cars cost?
The 2026 Lucid Air starts at $70,900 and ranges up to $249,000 for the Sapphire performance trim. The 2026 Lucid Gravity SUV starts at $81,550 and ranges up to $141,550 for the Dream Edition.
Is Lucid better than Tesla?
Lucid and Tesla compete directly in the luxury EV space rather than one clearly beating the other. Lucid’s Air has posted some of the highest EPA range figures of any production EV, and its interior and build quality are generally reviewed as more premium than Tesla’s, but Tesla has far greater production scale, a much larger charging network, and a lower price of entry.
Does Lucid make an SUV?
Yes. The Lucid Gravity is a three-row luxury SUV that began customer deliveries in late 2024 and is built alongside the Lucid Air at Lucid’s Casa Grande, Arizona factory.
Lucid Motors remains an American-engineered automaker at its core — its cars are still designed and built in the US, with Peter Rawlinson’s original engineering team’s technology still underpinning both the Air and Gravity. But the company’s survival through years of heavy losses has come from Saudi Arabia’s Public Investment Fund, which now controls a majority stake and has installed its own board chair. Other automakers raise the same two-part question — see who really owns BMW or who makes Jaguar for similar ownership breakdowns. Anyone asking who “makes” a Lucid is really asking two separate questions — who builds it (Lucid’s own US-based engineering and manufacturing teams) and who owns it (majority Saudi Arabia’s PIF) — and the honest answer, as of 2026, is both.
