Lucid Motors announced on Friday the opening of a new studio located at the Cherry Creek Shopping Center, in Denver, Colorado. This Studio opening marks 27 Studio and service center locations open in North America. The Lucid Studio in Cherry Creek will be open to the public starting on Saturday, June 18.
“The state of Colorado’s ambitious plans to support the acceleration of widespread electrification closely align with our mission to inspire the adoption of electric vehicles,” said Zak Edson, Lucid’s Vice President of Sales and Service. “The new Lucid Studio in Cherry Creek will provide excellent exposure to the Lucid Air in an area quickly growing in electric vehicle sales.”
On Wednesday, the company confirmed the entry into a Credit Agreement with an initial committed amount of up to $1.0 billion with a stated term of five years, maturing on June 9, 2027. Lucid’s CFO Sherry House said the credit will permit the electric vehicle maker to scale its business.
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According to an image leaked on Saturday, Lucid Motors is getting ready to open a new showroom in Riyadh, Saudi Arabia’s capital and main financial hub. The company has currently 19 studios in the U.S., 2 in Canada (Vancouver and Toronto, and one in Germany (Munich).
On May 18, Lucid had hosted a ceremonial signing event to mark the agreements with the Saudi Arabia entities for the construction Lucid’s production factory with a capacity of 155,000 electric vehicles. The luxurious electric vehicle maker estimates that manufacturing plant in Saudi Arabia may result in up to $3.4 billion of value to Lucid over 15 years.
Recently, Lucid Motors unveiled a new digital platform called Lucid Financial Services through a strategic relationship with Bank of America. The platform offers a flexible financing process to the customers including lease and loan purchase options in the United States.
According to the company, the program is accessible to U.S. customers now taking deliveries of Lucid Air Grand Touring models and will also be available to customers taking delivery of Touring and Pure models later this year.