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The company claims Air will be the fastest-charging EV in the market, with a charging speed of more than 32 kilometres per minute, under controlled conditions.
![](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/GI63MALQHTQQSCHEOWS5XHSJKY.jpg?smart=true&auth=d01d61431d8e4acbcf2caecf827c38234a39710973fc47d2a24b6d5f00fc8c7e&width=400&height=225)
Lucid plans a phased global expansion with Saudi Arabia – the Arab world’s largest economy. Bloomberg
![](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/WNJ2GCSL4EP5PWJMLJ57HVEOGM.jpg?smart=true&auth=01eaa34944bc08979f2b515d7b411bf203e5c9a2a081201ac888a957a5a19074&width=400&height=225)
Peter Rawlinson, chief technology officer for Lucid Motors Inc.
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Lucid was founded in 2007 under the name Atieva and was initially focused on building EV batteries.
![](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/H46Q2C47VGT2VLGEFI3SQYOR34.jpg?smart=true&auth=46f385c1ecd78b7803fc6ac1131e43904bbd8d3679a6074a533f75631ea2718c&width=400&height=225)
In 2016, it rebranded as Lucid Motors, moved away from being a supplier and pivoted towards making a rival luxury sedan to Tesla.
![](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/QDCJ3ZTP23WPRDTVM4VFXRU5O4.jpg?smart=true&auth=888c00bf42fc1c5fa69f2e54ed82032d8bc24aa5a95f08f4f8b9cf27d5741597&width=400&height=225)
In 2018, the PIF invested more than $1 billion (Dh3.67bn) in Lucid for a majority stake in the company and to help accelerate the manufacturing of its first EV.
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Lucid aims to produce up to 8,000 units of Air from its Arizona facility next year and then increase that to 25,000 and 34,000 in 2022 and 2023, respectively.
![](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/WMIDGZSQPZWF5P5RF6EAKK4A3Q.jpg?smart=true&auth=f47ad5f1cf9919c98505f2c64b4078a0cbc3693c3eae6c426c80c9e622e01073&width=400&height=225)
Other investors of Lucid include Tokyo-based Mitsui and California’s venture capitalist Venrock.
![](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/APWXBPONW2WDVOZXXOL4UNWJFY.jpg?smart=true&auth=320b59c48d3148577e56dd6074d37c57afe4a640281e5ef7c2594d57b1d65414&width=400&height=225)
The company claims Air will be the fastest-charging EV in the market, with a charging speed of more than 32 kilometres per minute, under controlled conditions.
![](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/GI63MALQHTQQSCHEOWS5XHSJKY.jpg?smart=true&auth=d01d61431d8e4acbcf2caecf827c38234a39710973fc47d2a24b6d5f00fc8c7e&width=400&height=225)
Lucid plans a phased global expansion with Saudi Arabia – the Arab world’s largest economy. Bloomberg
![](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/WNJ2GCSL4EP5PWJMLJ57HVEOGM.jpg?smart=true&auth=01eaa34944bc08979f2b515d7b411bf203e5c9a2a081201ac888a957a5a19074&width=400&height=225)
Peter Rawlinson, chief technology officer for Lucid Motors Inc.
![](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/AAUVJ55YZUUIWKLDPIOXN7K5LA.jpg?smart=true&auth=bed98b052369d570d976936f3dfd72d8de58514e3a78661026e1caa447091875&width=400&height=225)
Lucid was founded in 2007 under the name Atieva and was initially focused on building EV batteries.
![](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/H46Q2C47VGT2VLGEFI3SQYOR34.jpg?smart=true&auth=46f385c1ecd78b7803fc6ac1131e43904bbd8d3679a6074a533f75631ea2718c&width=400&height=225)
In 2016, it rebranded as Lucid Motors, moved away from being a supplier and pivoted towards making a rival luxury sedan to Tesla.
![](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/QDCJ3ZTP23WPRDTVM4VFXRU5O4.jpg?smart=true&auth=888c00bf42fc1c5fa69f2e54ed82032d8bc24aa5a95f08f4f8b9cf27d5741597&width=400&height=225)
In 2018, the PIF invested more than $1 billion (Dh3.67bn) in Lucid for a majority stake in the company and to help accelerate the manufacturing of its first EV.
![](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/XBC2SASAJ4B6PCNLW65ZLYEZJ4.jpg?smart=true&auth=8cca013bbafb4a35a73995b7950e93c911d47f68a4258a4af4b41db6333edcc3&width=400&height=225)
Lucid aims to produce up to 8,000 units of Air from its Arizona facility next year and then increase that to 25,000 and 34,000 in 2022 and 2023, respectively.
![](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/WMIDGZSQPZWF5P5RF6EAKK4A3Q.jpg?smart=true&auth=f47ad5f1cf9919c98505f2c64b4078a0cbc3693c3eae6c426c80c9e622e01073&width=400&height=225)
Other investors of Lucid include Tokyo-based Mitsui and California’s venture capitalist Venrock.
![](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/APWXBPONW2WDVOZXXOL4UNWJFY.jpg?smart=true&auth=320b59c48d3148577e56dd6074d37c57afe4a640281e5ef7c2594d57b1d65414&width=400&height=225)
The company claims Air will be the fastest-charging EV in the market, with a charging speed of more than 32 kilometres per minute, under controlled conditions.
Electric car maker Lucid raises prices of most models by up to 13%
Increase caused by rising raw material costs and global supply chain problems
![Ian Oxborrow](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/https%3A%2F%2Fs3.amazonaws.com%2Farc-authors%2Fthenational%2F17d8e8ae-9d4c-4c39-9df9-321a626a521f.png?smart=true&auth=6235a7864f7cbc035d8070e77b37d3fcc19ce99154bfca710e2ca34c776c2e10&width=70&height=70)
Ian Oxborrow
06 May, 2022
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