- PIF affiliate will buy $750 million of convertible preferred stock via private placement and provide for a $750 million unsecured delayed draw term loan facility.
- Lucid now has enough capital to last until the fourth quarter of 2025
- PIF has over 60% stake of Lucid shares and probably would not let Lucid go without a fight. I suspect that PIF may even privatized Lucid if things go sour.
- This Gravity SUV is expected to rival Tesla’s Model X SUV in the market, and is expected to enter production in late 2024.
Here is some info about the Lucid Gravity SUV:
Awesome looking Lucid Gravity SUV with estimated range of 440 miles and “under $80,000”
The gravity uses “the next generation of Lucid's proprietary, ultra-compact powertrain technology”.
Fast charging speeds with the 900-volt architecture likely as high as the Air's 300kW.
0 to 60mph in less than 3.5 seconds.
440 miles estimated range is over 100 mile more than Tesla's longest range Model X.
Clamshell design hatch with practically identical roofline like the Air's
Incredibly aerodynamic with drag coefficient of 0.24
Lots of interior space with three rows for seven-passenger.
Improved interface with a 34-inch curved display and a large secondary screen below.
Expect to be on sale by late 2024.
Base Gravity is expected to start “under $80,000” in the US
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