Lucid Gains Nearly $546 Million After Saudi Prince Reveals 5% Holding

Lucid ended trading on July 28 at $7.90, rising 21.5% after hitting an intraday high of $8.50. The jump came after Prince Alwaleed bin Talal revealed a 5% passive position. His SEC filing indicated ownership of 19.513 million shares, equal to a 5% stake. The filing did not contain any announcement of new financing for Lucid. Despite the surge, shares were still about 30% lower during 2026. Barron’s

Lucid is set to release its second-quarter earnings on August 4, holding its conference call at 5:30 p.m. ET. In May, management withdrew its earlier production guidance of 25,000 to 27,000 vehicles. A new forecast may follow after the new chief executive completes a review. Investors’ attention will be on revenue, gross margin, cash burn, and any updated production targets. Volatility is likely to remain high. Lucid Group, Inc.

Lucid reported production of 4,774 vehicles and deliveries of 3,953 for the second quarter. Production rose 23.6% from a year earlier, while deliveries increased by 19.5%. Compared with the previous quarter, deliveries climbed 27.8%, but production dropped 13.2%. The gap between production and deliveries fell to 821 vehicles from 2,407 in the first quarter. For the first half, production continued to outpace deliveries by 3,228 vehicles. Lucid Group, Inc.

At March 31, inventory stood at $1.469 billion, a rise of 32.4% compared with the end of the year. The amount of cash held in inventory grew by $576.4 million over the first quarter. Lucid attributed the higher number of unfinished and finished vehicles to a 29-day supplier disruption affecting Gravity. Second-quarter deliveries rose, and production for the quarter surpassed deliveries by only 821 vehicles. However, it remains to be seen if the August 4 balance sheet will show an actual inventory decrease. Lucid Group, Inc.

First-quarter revenue stood at $282.5 million, with a gross loss of $311.7 million. Gross margin was negative 110.4%, compared to negative 97.2% in the same period a year ago. Net loss attributable to common shareholders amounted to $1.134 billion. Adjusted EBITDA came in at negative $780.6 million. Free cash flow was negative $1.439 billion, against $589.9 million the prior year. August figures will indicate whether restructuring and inventory conversion efforts have reduced the cash burn. SEC

Lucid disclosed $3.2 billion in liquidity for Q1, with pro forma liquidity at $4.7 billion. Financing in April featured a $550 million injection from a Public Investment Fund affiliate. Additional funding included $300 million raised publicly and $200 million secured from Uber. The company also accessed $500 million from a PIF-supported term loan, with about $2.0 billion of that facility still available. The number of common shares outstanding climbed 18.2%, increasing from 330.1 million to 390.3 million. If the current pace of cash burn persists, further capital raising could be likely. Lucid Group, Inc.

Lucid intends to reduce its U.S. workforce by around 18%. The company has also removed the second production shift at AMP-1 and discontinued the chief operating position. Executives forecast $158 million in savings per year, with $32 million in related cash costs. Most measures are expected to complete by the close of the third quarter. Recurring savings per quarter will total about $39.5 million. That figure is modest compared with Lucid’s $780.6 million adjusted EBITDA loss for the first quarter. SEC

Lucid, in an SEC filing, rejected reports of a July bankruptcy or plans to go private, stating there is no special board committee in place. The company clarified that AlixPartners has been engaged to help with operational improvements and not for bankruptcy planning. Lucid noted it has enough liquidity to fund its operations well into 2027. The company’s response was unequivocal. Nevertheless, ongoing losses continue to pose a higher risk for future financing. SEC

Lucid has broadened its Uber deal to include a minimum of 35,000 Gravity and Midsize vehicles. Uber’s combined investment in Lucid rose to $500 million following a $200 million purchase in April. All Gravity robotaxi alpha units were delivered by Lucid in the first quarter. Nuro secured a driverless-testing permit in California, aiming to launch public operations in 2026. Production of Lucid’s Midsize line is still on track for late 2026, with versions priced under $50,000. The schedule remains a forecast, not a confirmed achievement. Neither project ensures volumes will turn profitable. Lucid Group, Inc.