Panasonic Announces Multi-Year Agreement to Supply Electric Vehicle Batteries to Lucid Group

Panasonic Energy Co., Ltd. and Luxury electric automaker Lucid Group have entered into a multi-year agreement to supply batteries for Lucid’s electric vehicles, including the Lucid Air sedan and forthcoming Gravity SUV. The battery supply deal aligns with Panasonic’s goal of expanding battery production outside of its home country of Japan. The company plans to expand the production of EV batteries in the U.S. to meet growing demand from automakers.

Eric Walz2022-12-13 10:00 PT

BorgWarner Invests $500 Million in Wolfspeed Inc, a Developer of Semiconductors and Silicon Carbide Devices for Electric Vehicles

Michigan-based BorgWarner Inc., which is one of the world’s biggest parts suppliers to the auto industry, announced a $500 million investment in Wolfspeed Inc., a developer and manufacturer of semiconductors and silicon carbide devices. Wolfspeed's family of products include Silicon Carbide (SiC) materials for applications such as electric vehicle powertrains, fast charging, 5G, renewable energy and energy storage devices.

Eric Walz2022-11-16 10:00 PT

Lucid Group Hires Key Executives that Formerly Worked for Mercedes-Benz and Tesla as it Prepares for Global Expansion and Production Ramp Up

Luxury-electric automaker Lucid Group announced the appointments of Evelyn Chiang as VP of Process Transformation and Walter Ludwig as its VP of Global Logistics as it aims to ramp up production. The two executives bring a wealth of global expertise and decades of operational excellence from companies including Mercedes-Benz and Tesla.

FutureCar Staff 2022-08-28 09:15 PT

The NIO ET7 Will Come Standard With an Advanced Dolby Atmos-Powered Sound System Co-Developed With Audio Pioneer Dirac

The new The ET7 sedan from Tesla rival NIO is the world’s first vehicle to come with an immersive Dolby Atmos sound system developed in collaboration with Swedish digital audio pioneer Dirac and Dolby Laboratories. Dirac is a developer of audio optimization algorithms that improve sound quality. The company’s digital signal processing (DSP) can help automakers overcome acoustic challenges of designing vehicle audio systems.

FutureCar Staff 2022-07-29 13:00 PT

Luxury Electric Automaker Lucid Group to Receive $3.4 Billion in Incentives to Build its Second EV Factory in Saudi Arabia

​Luxury electric vehicle maker Lucid Group, Inc. announced a ceremonial signing event with the Ministry of Investment of Saudi Arabia, the Saudi Industrial Development Fund, Emaar, The Economic City, at King Abdullah Economic City and Gulf International Bank for the construction of Lucid’s second electric vehicle factory in Saudi Arabia.

Eric Walz2022-06-24 14:00 PT

Lucid Group Reports its Q1 Earnings and Deliveries, the Company is Also Hiking Prices on June 1

​Luxury electric car maker Lucid Group, Inc. announced financial results for its first quarter ended March 31, 2022. The results suggest that Lucid will face an uphill battle to reach its delivery goals in 2022 as the company deals with supply chain issues and the rising costs of raw materials. Lucid reported Q1 revenue of $57.7 million and deliveries of just 360 vehicles to customers in the first quarter.

Eric Walz2022-06-11 15:15 PT

Lucid Group to Integrate Wolfspeed’s Silicon Carbide (SiC) Semiconductors in the Lucid Air Sedan as Part of a New Supply Agreement

Wolfspeed, a leading developer of Silicon Carbide (SiC) semiconductor technology, today announced that luxury electric automaker Lucid Motors will use its Silicon Carbide power solutions in the high-performance Lucid Air sedan. SiC technology has many benefits over traditional silicon chips, including better conductivity and cooling performance in high temperature environments, which makes them well suited for use in electric vehicles.

Eric Walz2022-06-01 13:00 PT

Lucid Announces New Lucid Air ‘Grand Touring Performance’ Model with 1,050 Horsepower

​Luxury-performance electric automaker Lucid Group announced today that the first deliveries of the Lucid Air Grand Touring models have begun. To coincide with launch, Lucid announced a brand new version of its Air sedan called Lucid Air Grand Touring Performance. The dual-motor Lucid Air Grand Touring Performance delivers 1,050 horsepower with an EPA-estimated driving range of 446 miles.

FutureCar Staff 2022-05-19 10:00 PT

Lucid Group Announces its Q4 & Fiscal Year 2021 Results, Reports Revenue of $26.4 Million

Luxury electric carmaker Lucid Group announced its 2021 Q4 results on Monday which included revenue of $26.4 million. As of Feb 28, 2022, Lucid said it produced over 400 vehicles, with 125 delivered to customers before the end of 2021 and roughly 175 more since the beginning of the new year. Lucid also said its has over 25,000 reservations for its luxury-electric Air sedan, representing potential sales of $2.4 billion.

FutureCar Staff 2022-04-06 17:00 PT

Lucid Group Issues its First Recall for Front Suspension Issue on the Electric Air Sedan

California-based luxury electric automaker Lucid Group is issuing its first recall to inspect the front suspension on roughly 200 Lucid Air sedans. The recall is to inspect a part of the Air’s front strut dampers, which may have been improperly installed due to an error by a supplier, Lucid said in an email to Air sedan customers.

FutureCar Staff 2022-03-31 12:55 PT

Electric Automaker Lucid Group Opens its 21st U.S. Studio Location in Southern California

Luxury-electric vehicle startup Lucid Group​ announced the official opening of its newest Studio location at the Fashion Island shopping center in Newport Beach, CA. The location is Lucid’s 21st Lucid Studio in the U.S. Each serves as a showroom for the Lucid Air sedan, as well as a space where customers can learn more about the company's advanced electric powertrain technology.

FutureCar Staff 2022-03-05 13:30 PT

The 2022 North American Car, Truck & Utility Vehicle of the Year Winners Announced in Detroit, Ford Wins Big

​The North American Car, Truck and Utility Vehicle of the Year (NACTOY) award winners were announced today in Detroit. This year’s finalists included the Honda Civic, Lucid Air Sedan, Ford Bronco and Maverick, Rivian R1T and Volkswagen Golf. The winners were announced at an event in Detroit hosted by the Automotive Press Association (APA) on Tuesday.

FutureCar Staff 2022-02-17 09:00 PT

Lucid Group Announces a Proposed $1.75 Billion Convertible Senior Notes Offering

​Luxury electric carmaker Lucid Group, Inc. announced on Wednesday its intention to offer $1,750,000,000 aggregate principal amount of convertible senior notes due 2026 in a private offering to qualified institutional buyers. The notes will be senior, unsecured obligations of Lucid, will accrue interest payable semi-annually in arrears, and will mature on Dec 15, 2026, unless redeemed or converted.

FutureCar Staff 2022-01-15 11:45 PT

Lucid Group Announces Bank of America as its Preferred Lender to Support the Ownership Experience

Lucid Group announced on Monday a preferred lending partnership with Bank of America. Customers can now apply for financing directly through Bank of America online or use Lucid’s dedicated concierge service when ordering a Lucid Air. The Lucid Air sedan priced well over the budget of most car buyers, so the lending partnership with Bank of America may help the company to sell more vehicles.

FutureCar Staff 2022-01-12 15:00 PT

Lucid Group Appoints 3 Industry Veterans to Key Roles in Engineering, Sales, as the Company Prepares for Growth

Lucid Group continues to round out its leadership team to bolster its engineering expertise and prepare for its growth. The company announced on Thursday the appointment of Ralph Jakobs as Vice President of Program Management, Zak Edson as Vice President of Sales and Service and Dr. Emad Dlala as Vice President of Powertrain. Each brings a wealth of expertise from automotive and high-tech companies, including Volkswagen Group and Tesla.

Eric Walz2022-01-08 14:45 PT

NIO to Offer Dolby Atmos Audio Technology Standard in the New ET7 Electric Sedan

Tesla rival NIO Inc. will be the world's second automaker to offer Dolby Atmos audio technology in its latest electric vehicle, the ET7 sedan. NIO follows Lucid Group, which was the first automaker to include Dolby Atmos in the audio system of the Lucid Air sedan. Dolby Atmos technology debuted in 2012 and is normally associated with blockbuster Hollywood movie soundtracks.

FutureCar Staff 2021-12-23 13:00 PT

Lucid to Open its First Washington DC Metro Area Studio This Weekend

Newly listed electric automaker Lucid Group will open its third east coast Studio in the Washington DC Metro Area Saturday Nov 6. The Studio is located in the Tysons Corner Center shopping mall, which is the seventh largest mall in the U.S. The new Washington DC location follows the opening of the Lucid Studio in Florida and most recently in New York City.

FutureCar Staff 2021-12-12 08:45 PT

Lucid to Open its First Canadian Retail Location in Vancouver, Announces Pricing for the First Time Outside of the U.S.

​Luxury-electric automaker Lucid Group will open its first retail showroom outside of the U.S. this weekend. The newest showroom will open in Vancouver, BC and will open its doors to customers on Saturday, Oct 16. The Lucid Studio in Vancouver will be followed by another Studio in Toronto.

FutureCar Staff 2021-11-21 06:30 PT

Lucid Reveals New Details of its ‘DreamDrive’ Advanced Driver Assist System, its Answer to Tesla’s Autopilot

​Luxury electric vehicle startup and Tesla challenger Lucid has already built the world's longest range EV with its Lucid Air sedan, but the company is not stopping there. The electric Lucid Air sedan will also include advanced driver assist features and autonomous driving capabilities. Lucid calls its advanced driver assist platform “DreamDrive” and the company has shared new details for the first time.

Eric Walz2021-11-18 10:30 PT

Lucid Group Officially Starts Production of the Fully-Electric Lucid Air Sedan in Arizona, Customer Deliveries Will Begin Next Month

​California-based luxury electric vehicle startup Lucid Group kicked off its “Production Preview Week” on Tuesday, providing members of the media, investor community and reservation holders the first look inside Lucid’s EV factory in Arizona where the first Lucid Air Dream Edition rolled off the assembly line today. Lucid also announced that deliveries of the Air sedan will begin in late October.

Eric Walz2021-11-04 15:15 PT