LUCID GROUP LAYING THE GROUNDWORK TO EXPAND GLOBALLY
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Lucid Group is a company that is at the forefront of automotive innovation and technology. After a rocky 2018, Lucid Group emerged stronger than ever with $1.3 billion in new funding from Saudi Arabia's sovereign wealth fund. And in mid-2021, Lucid Motors merged with Churchill IV, where it fetched an eye-watering $4.5 billion in fresh capital. This week, news broke that Lucid Motors are finalizing plans to build a production line in Saudi Arabia by 2024.
On September 10th, 2021, Lucid Group announced on social media that is has Lucid Studio opening soon in Munich, Germany, which will be the companies 1st Studio outside the United States. This news marks a significant step forward for the company that now has more capital than before, allowing them to grow and expand faster while still maintaining its innovative edge. Lucid Group is here to stay, and they are laying the groundwork to expand globally.
Saudi Production Line
Daily Lucid was one of the first to cover this news on Twitter saying:
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Although Lucid Motors has not publicly said anything about this specific piece of news, the Al Arabiya publication has now quoted the Kingdom’s Standards and Metrology Authority to indicate that Lucid Group would likely commence its EV production line in Saudi Arabia by 2024:
"The Standards and Metrology Authority reveals to #العربية Details of LUCID’s approval to implement an electric vehicle production line in Saudi Arabia by 2024."
With Lucid Motors opening a studio in Germany and will likely start taking reservations in 2022 for the European market, it makes sense to get a production line closer to that region. This move is the most logical, as it would help cater to the neighboring areas and lower the logistical costs for Lucid Group.
More Production Lines, More Vehicles
Lucid Motors has ambitious plans in the next few years; by 2023, they want to add an SUV to the lineup. In 2025, they estimate to produce around 135,000 units comprised of the Lucid Air, Lucid Gravity, and maybe another model in 2025, just perhaps.
Lucid Motors Germany Studio Coming Soon
Nine Lucid Studios are now open, with 10 more studios opening in the second-half 2021 and very early 2022. Other locations will include:
- Millbrae, CA - San Francisco Peninsula (Studio & Service Center)
- Seattle, WA - Airport Way (Service Center)
- San Diego, CA - Westfield University Town Center (Studio)
- Scottsdale, AZ - Scottsdale Rd. (Service Center)
- Houston, TX - (Service Center)
- Orange, CA - Newport Fashion Island (Studio)
- Boston, MA - Seaport District (Studio)
- Long Island, NY - The Gate at Manhasset (Studio)
- Seattle, WA - University Village (Studio)
- Dallas, TX (Studio)
- San Rafael, CA - Marin County (Studio)
- Denver, CO (Studio)
Lucid Also announced that they are close to opening their first Studio in Germany, making Lucid Group global.
In a Tweet Friday morning on September 10th Lucid Motors said this:
#LucidMotors goes global with its upcoming Lucid Studio at Odeonsplatz in Munich, Germany. #DreamAhead #IAA
This article was written by the Daily Lucid. The Daily Lucid is the #1 source for Lucid Motors News and Lucid Group news, rumors, and reviews. Subscribe to our Newsletter for all the latest news.