Lucid Motors

Country: U.S.

Market value: $37.2 billion

EV deliveries in H1 2021: N/A

EV deliveries in 2020: N/A

Although its first luxury electric car is yet to hit the market, Lucid Motors' valuation already far exceeds those of other mainstream automakers, following its $4.4 billion IPO through a merger with blank-check company Churchill Capital in July. Saudi Arabia's Public Investment Fund is one of Lucid's early backers, having injected $1 billion into the company in 2018, and owns about two thirds of the California-based firm. CEO Peter Rawlinson, a former staffer of Tesla, revealed to Forbes in a May 2021 interview that Lucid plans to build its cars at its first manufacturing plant in Saudi. Lucid Air, its first EV offering and a vying rival to Tesla, has a price tag of $169,000. The company said it has over 11,000 paid reservations for its Lucid Air.