Lucid Motors gets real as Saudi funding comes through

Lucid AIrThings just got real for Tesla competitor Lucid Motors. The company, which announced a $1 billion deal with the Saudi Arabian Public Investment Fund last September, confirmed on Thursday that the investment is complete. That could make Lucid the most realistic competitor to Tesla yet, as it plans to bring its nearly fully developed Lucid Air to...

Saudi investment fund reportedly wants stake in Lucid Motors

Lucid AirThe Saudi Arabian sovereign wealth fund may be planning to buy a stake in potential Tesla rival Lucid Motors, according to a Reuters report. Tesla CEO Elon Musk suggested last week that he had held talks with the same Saudi investment fund. The report says that the fund has drawn up a term sheet to invest $500 million in Lucid. It could invest up...

Odds for auto startups are incredibly high; can Tesla beat them?

Tesla Motors, Palo Alto, CaliforniaMuch of the energy and growth in the U.S. economy comes not from large corporations but from small startup companies, as economic data shows. By now, the model of a young, energetic entrepreneur with a bright idea who turns it into a world-changing business is well established. Think Facebook or Google, or before them Microsoft or IBM or Kodak, or...

Lucid looking for savior, perhaps, after Ford declines to buy company

Lucid AirThe image of the electric car as the future of passenger vehicles has led to a wealth of start-up companies hoping to cash in on the newest type of automotive propulsion. Starting a company—an automobile company at that—is not an easy task, however. Now Lucid Motors (nee Atieva) may be on the brink of discovering that. A new report...

Lucid Air electric luxury sedan: a Tesla Model S owner’s take

Lucid Air electric luxury sedan prototype  [photo: David Noland]It’s a cool spring morning in Menlo Park, California, in the heart of Silicon Valley. In a two-story concrete-and-glass building on Constitution Avenue, just down the block from Facebook’s vast fortress, a group of automotive engineers and designers is working to create the next-generation luxury high-performance all-electric sedan. A...

Luxury electric Lucid Air sedan hits 217 mph in stability test

Lucid AirOnly a handful of people have ridden in one outside the company, but development of the Lucid Air luxury electric sedan seems to be proceeding apace. The company said yesterday at the New York auto show that a development prototype had reached an electronically limited top speed of 350 km/h (217 mph) in testing last month. Lucid Motors, formerly...

What Tesla hath wrought: bumper crop of luxury electric cars

Jaguar I-Pace Concept, 2016 Los Angeles Auto ShowIt may have taken some time, but the auto industry is now reacting to Tesla in full force. More than four years after the first Tesla Model S was delivered, we are on the verge of a bumper crop of luxury electric cars. A mix of established automakers and startups looking to emulate Tesla's success are planning a growing array of new models, the...

Lucid Air priced slightly below Tesla Model S at $60,000

Lucid AirThe Lucid Air electric car will be available in a base model with less power and a lower range than the high-end model unveiled last year, but at a much lower price. A Lucid Motors press release confirmed the Air base model will start at $52,500, after the $7,500 federal tax credit for electric cars is applied. That means the true base price will...