Written by Cláudio Afonso | LinkedIn | X
Morgan Stanley disclosed in its latest quarterly portfolio update on Friday that it added 7,252,465 shares of U.S. electric vehicle maker Lucid Motors during the fourth quarter, bringing its total holdings to a record high of over 22.8 million shares.
As of December 31, the investment bank’s position in Lucid was valued at more than $69 million after the 46.4% increase in shares held between October and December.
Morgan Stanley first opened a position in Lucid in late 2020, before the company went public through a merger with Churchill Capital Corp IV, a special purpose acquisition company (SPAC).
Since then, the firm has gradually increased its stake with periodic adjustments, reaching its highest level in Q4 2024.
Lucid shares closed 1.5% higher on Friday at $3.31. The stock hit a record low of under $2 in November and has since gained 71% from that level.
Charles Schwab
Charles Schwab Investment Management also disclosed an increased stake in Lucid Motors, reporting 6,595,701 shares held as of December 31, valued at nearly $20 million.
The firm previously held 5,096,667 shares at the end of Q3 2024, representing a 29.4% increase in its position during the quarter. The previous value of the position stood at $18.27 million.
BlackRock
As recently reported by EV, BlackRock, the world’s largest asset manager, added 5.4 million shares in Lucid in the fourth quarter of 2024. The firm increased its stake in the company by 12.7%.
BlackRock ended the year holding more than 48.5 million Lucid shares, valued at nearly $147 million, according to its latest 13F filing.
Saudi-Backed EV Maker
Saudi Arabia’s Public Investment Fund (PIF) has a stake of about 60% in the company. In October, Lucid announced a combined public offering and private placement of approximately 637 million shares to raise over $1.7 billion.
The offering consisted of a public sale of over 262 million shares, while Ayar Third Investment — an affiliate of the PIF — committed to buying nearly 375 million shares through a private placement.
US Sales in January
The company sold 665 vehicles in January, down from a record 780 in December, according to Motor Intelligence estimates released last week.
Year over year, Lucid’s U.S. sales rose 51%, with an estimated 615 Air sedans and 50 Gravity SUVs registered last month.
After having delivered the first units of its second model — the Gravity SUV — in late December, Lucid has not yet revealed when U.S. and Canadian customers can expect the first deliveries of the high-end variant.
