Lucid's Ownership Structure Reveals Middle Eastern Rather Than Chinese Roots

ZKProofster · 2026-01-04T16:27:28+00:00

Lucid Motors is an American electric vehicle company founded in California, primarily owned by Saudi Arabia's Public Investment Fund. With a significant manufacturing commitment in Saudi Arabia, its profile raises questions for investors prioritizing geographic investment exposure.

ZKProofster

2026-01-04 16:27:28

Abstract generation in progress

When evaluating Lucid Motors(NASDAQ: LCID), prospective investors often wonder about the company’s true geographic and ownership origins. While there are numerous [electric vehicle (EV)]( manufacturers headquartered in China, Lucid’s corporate structure tells a distinctly different story.

Tracing Lucid’s California Origins and Current Ownership

Founded in 2007 as Atieva in California, Lucid is unequivocally an American company in terms of headquarters and operational base. However, its capital structure has evolved significantly. The majority shareholder is not based in the U.S.—it’s Saudi Arabia’s Public Investment Fund, which controls approximately 60% of outstanding shares through ownership of 1.37 billion shares. This makes Lucid fundamentally a company with substantial Middle Eastern investment, not a Chinese one.

The remaining shareholder base includes institutional U.S. investment firms. Blackrock holds approximately 48 million shares, while Vanguard maintains a position of roughly 74 million shares. These positions, though substantial, pale in comparison to the Saudi stake.

Saudi Arabia’s Strategic Manufacturing Commitment

The Middle Eastern connection extends beyond mere equity ownership. Lucid recently commissioned a manufacturing facility in Saudi Arabia designed to eventually produce 150,000 vehicles annually. This represents a significant capital commitment and strategic bet by the Saudi government on the company’s long-term viability in the EV sector.

Portfolio Implications for U.S.-Focused Investors

Investors specifically seeking to avoid Chinese exposure will find reassurance in Lucid’s ownership profile. However, those uncomfortable with significant Saudi Arabian capital exposure may need to reconsider. For investors prioritizing purely American-based EV manufacturers, alternatives merit evaluation. Rivian(NASDAQ: RIVN), for instance, maintains California headquarters with production facilities in Illinois and Georgia under development, while Amazon represents its largest institutional backer with over 16% ownership.

The distinction between avoiding one geographic exposure while accepting another remains a personal investment philosophy choice.

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