For the second consecutive quarter, the world’s largest asset manager BlackRock increased its position in Lucid Motors in the first quarter of 2025, a new regulatory filing showed.
The New York-based firm added 817,670 Lucid shares in the first three months of the year, according to its latest 13F filing, bringing its total holdings to 49,332,458 shares valued at nearly $125 million.
BlackRock had ended 2024 with more than 48.5 million Lucid shares after buying 5.4 million shares in the final quarter of the year. Its position peaked at over 49.35 million shares in the fourth quarter of 2023.
The asset manager first invested in Lucid following the EV maker’s merger with Churchill Capital Corp IV in 2021, initially acquiring 7.59 million shares. By the end of that year, its holdings had grown to more than 12.6 million.
Lucid currently has 680 institutional shareholders holding nearly 2.26 billion shares, a record high. Saudi Arabia’s Public Investment Fund (PIF) remains the company’s largest shareholder, with a stake of about 60%.
Last week, Bank of New York Mellon, recently rebranded as BNY, also reported an increased position in the premium carmaker during the first quarter. The firm held just over 3 million shares at the end of March, a stake valued at nearly $7.5 million, up 4.5% from the prior quarter. BNY manages approximately $49 trillion in assets.
Lucid shares hit an all-time low of $1.93 in November. The stock nearly doubled over the following two months but retested the $2 level last month. On Friday, it closed at $2.53.
The company registered 820 vehicles in the U.S. in April, down from 942 in March, according to Motor Intelligence data released Thursday.
Despite the monthly decline, April registrations rose 32% year-over-year, up from 622 units in April 2024, when Lucid had yet to launch its second model, the Gravity SUV.
Of the 942 vehicles registered in March, 912 were Air sedans and 30 were Gravity SUVs. In April, just five Gravity SUVs were registered, with the Air sedan accounting for the remaining 815 units.
Lucid’s Gravity, a three-row SUV seating up to seven passengers, remains in its production ramp-up phase. Interim CEO Marc Winterhoff said in late March that early units were being delivered to employees, family, and friends, with customer deliveries expected to begin by the end of April.
After reaching a sales record in the Netherlands in March, Lucid sold only one Air sedan in the country in April — national data showed last week.
