Electric vehicle manufacturer Lucid (LCID, Financial) announced plans to open orders for its Gravity SUV on November 7. This move aims to stimulate demand and attract new customers. The Gravity Grand Touring model starts at $94,900 and is slated for production later this year, while the Touring version will be available by the end of 2025, starting at $79,900.
Earlier this month, Lucid raised nearly $1.75 billion through stock sales and a private placement with its largest shareholder, an affiliate of Saudi Arabia's Public Investment Fund. With this funding secured, Lucid aims to expand its product lineup to better compete with established electric vehicle companies like Tesla (TSLA).
