According to a SEC form filed on May 13, George Soros’ Fund Management initiated position in Lucid Motors in the first quarter of 2022. The fund disclosed ownership of 600,000 shares of valued at $15.24M as of March 31. During the first quarter, Soro’s Fund also added over 101 million shares of the Chinese electric vehicle maker NIO and 19.83 million shares of Rivian.
In the last SEC filing, the fund has disclosed 271 total holdings valued at over $6,57 billion with the top holdings being Rivian Automotive, PowerShares QQQ Trust, Liberty Broadband Corporation, and Cerner Corporation.
As of May 13, Lucid had 594 institutional owners and shareholders (the highest number since its IPO) holding a total of 1,205,963,823 shares. Largest shareholders include Public Investment Fund, Vanguard Group, Invesco Qqq Trust, Series 1, Venrock Management V, LLC, BlackRock, and Susquehanna International Group, Llp.
On Friday, the company opened its first European retail location – the Lucid Studio at Odeonsplatz in Munich, Germany. Lucid expects to open additional studios and service centers in Germany, the Netherlands, Norway, and Switzerland in 2022, and has the ambition to expand into additional key markets across the European continent in the coming years.
The luxurious EV manufacturer unveiled on Tuesday its plan for the European expansion announcing the first deliveries in late 2022 and the prices for Germany, Switzerland, Norway and The Netherlands. Further expansion in Europe is planned in the future, including additional Studios and services centers in major European cities and a right-hand-drive model for the UK, the company said.
The company announced on Monday that has begun delivering in Canada. In March, the luxurious EV maker opened its second studio in Canada being located at the Yorkdale Shopping Centre, Ontario. At the time, Lucid also unveiled a collaboration with Electrify Canada. Lucid has collaborated with Electrify Canada to offer those who reserve a Lucid Air by June 30, 2022, two years of complimentary charging on the rapidly growing charging network.
As previously announced, Lucid is increasing its prices in the US and Canada for reservations made after June 1st.The starting price of Lucid’s Air Pure model is now $119,000 CAD, up from $105,000 CAD. The only model with no price changes is the recent released Lucid Air Grand Touring Performance, costing $242,000 CAD.
Last week, the company presented its Q1 2022 Earnings Results reporting a total revenue of $57.7 million and 360 vehicles delivered to customers in the first quarter. Lucid said it is experiencing strong demand with more than 30,000 customer reservations, representing potential sales of $2.9 billion, the company said.