Who owns 60 of Lucid
What does a futuristic American electric car company have in common with the Kingdom of Saudi Arabia? The answer is a majority ownership stake. The single biggest owner of Lucid Motors is the Public Investment Fund of Saudi Arabia, or PIF, which controls the company with a stake of over 60 percent. This puts a national investment fund, not a traditional automaker or tech billionaire, in the driver’s seat of one of Tesla’s main rivals.
This massive investment comes from what’s known as a “sovereign wealth fund.” Think of it like a country’s giant savings and investment account, built from national wealth—in Saudi Arabia’s case, primarily from oil revenue. The PIF is simply the name of that specific fund, and its goal is to invest this money globally to grow the nation’s wealth for the future.
The PIF isn’t just any fund; it’s one of the largest and most influential in the world, with investments in everything from video games to ride-sharing. According to public financial filings, the PIF stake in Lucid Motors was secured through billions of dollars in funding over several years. This investment confirms the PIF’s majority stake and its crucial role in the carmaker’s journey.
Why Would an Oil Kingdom Invest Billions in an EV Company?
At first glance, it seems like a contradiction. Why would a country whose wealth is built on oil pour billions into a company that makes electric cars? The answer lies in a single, powerful idea: planning for the future.
Imagine your entire household income came from just one job. You’d likely want to find other ways to make money, just in case something happened to that main source. Saudi Arabia is in a similar position with its oil wealth. This strategy of creating new sources of income is called economic diversification, and it’s at the heart of their investment in Lucid.
This national strategy has a name: Saudi Vision 2030. It’s a massive, country-wide plan to prepare for a future that will be far less reliant on fossil fuels. To achieve this, the country is using its Public Investment Fund (PIF) to buy stakes in forward-thinking industries like technology, entertainment, and, most importantly, electric vehicles.
By investing in Lucid, Saudi Arabia isn’t just making a financial bet; it’s buying a significant piece of the future of transportation. The deal gives the kingdom a foothold in a booming industry and even includes plans for a Lucid factory on Saudi soil. It’s a clear, calculated move to turn today’s oil money into tomorrow’s sustainable economy.
What Did Lucid Motors Get From This Deal?
For Lucid, the partnership with the PIF wasn’t just helpful—it was a lifeline. The company received billions of dollars in funding at a time when it desperately needed cash to turn its futuristic car designs into a reality. Without this massive investment, Lucid might have ended up as just another promising EV startup that ran out of money before its cars ever hit the road.
Building cars is one of the most expensive businesses in the world. You need massive factories, complex supply chains, and thousands of employees long before you sell a single vehicle. This is known as a capital-intensive industry, and it’s a major barrier for new companies. The PIF’s investment provided the direct financial muscle Lucid needed to build its first major manufacturing plant in Arizona, the critical step that allowed it to begin producing its Air sedan.
Beyond just building the first factory, this deep financial backing gives Lucid something almost as valuable: stability. It sends a message to the market, and to competitors like Tesla and Ford, that Lucid has the resources to stick around for the long haul. This allows the company to focus on developing new models and expanding its reach, rather than constantly worrying about where its next dollar will come from.
What Does Saudi Arabia Gain Besides a Financial Stake?
The benefits of this deal flow both ways, and Saudi Arabia’s return goes far beyond a simple investment. As a core part of the agreement, Lucid has built and opened its first international manufacturing plant in the kingdom. This factory, located in King Abdullah Economic City, is now assembling Lucid Air sedans, bringing high-tech automotive production directly to Saudi soil. It’s a tangible outcome of the partnership and a key milestone for Saudi Vision 2030.
This new plant does more than just create jobs; it serves as a massive training ground. By working alongside Lucid experts, local Saudi engineers and technicians gain priceless, hands-on experience in the complex process of building advanced electric vehicles. This is a powerful form of technology transfer, where essential skills and knowledge are passed from an established leader to an emerging one, effectively jump-starting the nation’s expertise in a critical future industry.
Ultimately, the goal isn’t just to build one factory—it’s to cultivate an entire industrial ecosystem. The Lucid plant acts as a seed, intended to attract a network of parts suppliers, software developers, and other EV-related businesses to the region. For Saudi Arabia, this investment isn’t just about owning a piece of a car company; it’s about using that ownership to build a brand-new, self-sustaining industry from the ground up, accelerating its move away from oil dependence. This unique ownership structure is quite different from how other major automakers, including Tesla, are set up.
How Does Lucid’s Ownership Compare to Tesla’s?
This single-owner structure makes Lucid’s situation starkly different from its main rival, Tesla. While Elon Musk is the unmistakable face and driving force of Tesla, he personally owns around 13% of the company. That’s an enormous stake for one person, but it’s nowhere near the 60%+ controlling interest that Saudi Arabia’s PIF holds in Lucid. This creates a fundamental contrast in how the two companies are set up.
So, who owns the rest of Tesla? The vast majority of its shares are held by what are known as institutional investors. Think of these as large financial groups, like mutual funds or pension plans, that invest money on behalf of millions of everyday people. Instead of having one dominant owner, Tesla’s ownership is spread across many of these major firms in addition to countless individual shareholders.
This difference creates two very different dynamics. Lucid has one primary financial partner with a massive, vested interest in its long-term success, providing a stable and deep source of funding. Tesla, on the other hand, answers to a much broader and more diverse group of investors, with its direction famously guided by its visionary CEO. The contrast in ownership between Lucid and Tesla highlights two distinct paths for funding a modern automaker.
These unique arrangements aren’t limited to just these two companies. Other EV startups have similar stories; for instance, Amazon is one of the Rivian major investors, giving it significant influence. But the PIF, despite its massive stake, isn’t the sole owner of Lucid. So, who else is behind the company?
Who Else Is Behind Lucid Motors?
While Saudi Arabia’s fund holds the majority stake, the vision and technology behind Lucid are driven by one key person: Peter Rawlinson. His Peter Rawlinson role is unique, as he serves as both the CEO (Chief Executive Officer) and CTO (Chief Technology Officer). This means he not only runs the company’s business operations but also leads the engineering efforts that make Lucid’s cars stand out for their exceptional range and performance. He is widely seen as the technical mastermind of the company.
Rawlinson’s expertise is a major reason investors have confidence in Lucid. Before taking the wheel here, he was the Chief Engineer for the Tesla Model S, the groundbreaking vehicle that proved electric cars could be both luxurious and high-performing. This experience gave him a deep understanding of what it takes to build an EV from the ground up, and that credibility has been crucial for attracting the funding and talent needed to compete.
Beyond the PIF and Rawlinson, the remaining ownership is spread among smaller investment groups and, importantly, the public. Since Lucid is a publicly-traded company, anyone can buy a piece of it on the stock market under the Lucid Motors stock symbol LCID. This diverse group, from large funds to individual enthusiasts, completes the Guide to Lucid Motors investors, creating a unique blend of sovereign backing, engineering leadership, and public support.
What This Partnership Means for the Future of Electric Cars
The story of Lucid’s ownership is more than a simple answer to the question of who holds the majority stake. It reveals a landmark strategic partnership connecting Silicon Valley innovation with a nation’s ambitious plan to redefine its economic future. This isn’t just a line item on a balance sheet; it’s a blueprint for global collaboration.
The combination of American engineering and immense Saudi financial backing has created a formidable new force in the electric vehicle industry. A Lucid Air gliding by is more than just a luxury car—it’s a symbol of an alliance with the stability and resources to challenge established automakers head-on.
Ultimately, this partnership offers a preview of the future. It is a tangible example of how capital earned from the oil economy is being used to build the foundation for a world powered by electricity, illustrating the fascinating ‘why’ behind Lucid’s unique ownership structure.
