Montage: EV

CalPERS increases its stake in Lucid by 21% in Q2 to nearly 1 million shares

Written by Cláudio Afonso | | LinkedIn | Twitter

According to a form filed on Wednesday, California Public Employees Retirement System has increased its position in the EV maker Lucid Motors by 20.69% to a total of 966,064 shares, valued at $16.58 million as of the end of Q2 2022.

In the previous form, filed on May 4, CalPERS disclosed owning 800,467 shares by the end of the first quarter with total holdings valued at $20.33 million.

During the second quarter, the fund added 165,597 Lucid shares having on its portfolio other electric vehicle manufacturers such as Tesla (representing 1.02% of the portfolio), NIO (0.05%), XPeng (0.03%), and Rivian Automotive (0.008%).


Earlier this week, Lucid Motors started hiring for its first Studio in The Netherlands after expanding to the European Market via Munich (Germany).

The company opened job vacancies for a Studio manager, an Associate Studio Manager and several Studio Advisors for the upcoming studio in Hilversum.

On Monday, the company announced the Stealth Look, a new version for the exterior design of the Air Grand Touring Performance, Air Grand Touring, and Air Touring models coming in the first quarter of 2023.

The theme is described by Lucid as “a darker and overtly sporting personality” and modifies 35 components on the exterior costing $6,000 in the U.S. and CAD$7,500 in Canada.

Last week, the company announced its second quarter financial results reporting $97.3 million of Revenue on deliveries of 679 vehicles and adjusted its 2022 production volume outlook to a range of 6,000 to 7,000 vehicles.

The results were followed by a conference call Lucid’s CEO Peter Rawlinson and CFO Sherry House answered the most upvoted questions from shareholders including a possible partnership with the Tech giant Apple.

Peter Rawlinson, Lucid’s CEO and CTO, mentioned that the company would potentially be “a fantastic partner for one of these groups today” referring to cargo vehicles or sharing fleets due to the additional space in the vehicles.

Recently, Lucid Motors Senior VP Eric Bach revealed in a recent interview with Driving Electric that the luxurious EV maker is developing entry-level new products. After the already known Gravity project — a seven-seater SUV that has been delayed until 2024 — the EV maker is working on a “mid-size” electric car to rival Tesla Model 3 in 2025-26.

Written by Cláudio Afonso | | LinkedIn | Twitter