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Gravity Suv

All articles tagged with #gravity suv

business1 month ago•2 min saved

Lucid Names Industry Outsider as CEO as It Secures $750 Million in Fresh Funding

Lucid Motors named Silvio Napoli, an industry outsider and former CEO of Schindler Group, as its new CEO to replace interim leader Marc Winterhoff. Napoli will relocate to the U.S. as the company also confirms a fresh $750 million runway: $550 million from the Saudi Public Investment Fund and $200 million more from Uber, which will increase its Gravity SUV order to 35,000 for robotaxi use (up from 20,000). The automaker has struggled with production volumes, cut about 12% of its workforce, and is betting on the Cosmos and Earth EVs later this year.

via InsideEVs|

#business #gravity-suv #lucid-motors

technology1 year ago•1 min saved

Lucid Gravity SUV Sets New Standard with 450-Mile Range

Lucid Motors' new Gravity SUV has received an official EPA range estimate of 450 miles, surpassing its initial 440-mile projection. Priced at $94,900, with a cheaper version expected in 2025, the Gravity aims to combine sports car performance with comfort while using fewer resources than competitors. Despite technological advancements, Lucid has struggled with sales, hoping the Gravity will boost its market presence in the SUV-dominated North American market.

via TechCrunch|

#electric-vehicles #epa-range #gravity-suv

business2 years ago•2 min saved

Lucid Cuts 6% of Workforce Amid EV Market Challenges

Lucid (LCID) is cutting 6% of its US workforce, about 400 employees, as part of a new restructuring plan to reduce costs ahead of the launch of its Gravity electric SUV. The job cuts will affect employees at all levels but not hourly manufacturing and logistics workers. The company expects to incur $21 to $25 million in charges due to the restructuring, mostly in Q2 2024. Despite the cuts, Lucid remains optimistic about future growth and plans to expand its market with new vehicle models.

via Electrek.co|

#business #electric-vehicles #gravity-suv

business-automotive2 years ago•1 min saved

"Lucid Motors Secures $1 Billion Investment for Gravity Electric SUV Launch"

Electric vehicle startup Lucid (LCID) has secured a $1 billion investment from Saudi Public Investment Fund (PIF) affiliate Ayar Third Investment Co. The funding will support the launch of Lucid’s first electric SUV, the Gravity, later this year. The investment comes as Lucid aims to accelerate deliveries, reduce costs, and boost sales following a net loss of $653.8 million in Q4. Despite the financial challenges, the company ended the quarter with over $4.3 billion in cash equivalents and investments. The Gravity SUV is expected to enter production later this year, with hopes of sparking momentum for the company.

via Electrek.co|

#business-automotive #electric-vehicles #gravity-suv

automotive3 years ago•2 min saved

Lucid's Gravity SUV undergoes public road testing ahead of production.

Lucid Motors has announced that its all-electric Gravity SUV has begun public road testing in the US, with the aim of scaled production at the automaker's AMP-1 facility in Arizona. The SUV promises to deliver more range than any other SUV on the market and will include seating for seven passengers. Lucid CEO and CTO Peter Rawlinson said the Gravity SUV will "drive like a sports car" and "change the world of SUVs".

via Electrek|

#automotive #electric-vehicles #gravity-suv

automotive3 years ago•1 min saved

Lucid's all-electric Gravity SUV undergoes successful public road testing.

Lucid Group has started testing pre-production versions of its all-electric Gravity SUV on public roads in the US. The Gravity SUV will be the company's second model after the Air. Lucid originally planned to begin producing the Gravity at its factory in Arizona in late 2023, but that date has since been pushed to 2024. The SUV will feature new high-resolution displays and a UX design.

via TechCrunch|

#automotive #electric-vehicles #gravity-suv

automotive3 years ago•2 min saved

Lucid's Gravity SUV undergoes public road testing ahead of production.

Lucid has entered a new phase of development for its all-electric Gravity SUV, with driving tests now being conducted on US public roads. The automaker released two new photos and a teaser video of the upcoming luxury vehicle, which features a non-finalized sensor attached to the top of the vehicle, hinting at some upcoming autonomous technology. The long-anticipated Lucid Gravity was revealed by the automaker last year, and major info like the SUV's driving range, performance, and pricing are still under wraps. Reservations are expected to start this year.

via The Verge|

#automotive #autonomous-driving #electric-vehicles