Lucid partners with Timothée Chalamet to market Gravity SUVs in new brand deal
Story Highlights
- Lucid Group Inc. signs multiyear brand deal with actor Timothée Chalamet
- Lucid begins production of Gravity SUV at Casa Grande plant
- Company announces partnerships with mineral suppliers and robotaxi program development
Lucid Group Inc. is going Hollywood.
Lucid (Nasdaq: LCID) inked a multiyear brand deal with actor Timothée Chalamet to market its Gravity SUVs, the California-based electric vehicle maker announced Tuesday.
Lucid, which manufactures its Lucid Air sedans and Gravity SUVs south of Phoenix in Casa Grande, called the partnership with Chalamet “a key milestone” in its strategy to “broaden cultural relevance of the brand through accelerated marketing efforts.”
Chalamet was spotted driving a Lucid Air in 2023, leading to his involvement in Lucid’s new marketing campaign for Lucid Gravity SUVs that will roll out in the fall, according to the company.
“We’re excited to welcome Timothée as our first Global Brand Ambassador,” Akerho Oghoghomeh, Lucid’s senior vice president of marketing, said in a statement. “He brings together the same fearless creativity and uncompromising vision that defines our brand, embodying what it means to compromise nothing, both on and off screen. Together, we’ll show what’s possible when innovation and cultural relevance come together to move the world forward.”
Lucid did not disclose additional details — including financial terms — for its brand deal with Chalamet.
Lucid began initial production of its Gravity SUV in late 2024 at its Casa Grande manufacturing plant, with customer orders for the modified Grand Touring version starting last November.
The base model of Lucid’s Gravity SUV starts at $79,900, and its Grand Touring model starts at $94,900, according to the company.
Lucid grows auto sector partnerships
Lucid’s brand deal with Chalamet is the most recent in a series of partnerships the electric vehicle maker has announced over the past month.
Just last week, Lucid announced a partnership with four critical mineral suppliers to accelerate development and procurement of domestic battery materials for the automotive industry, the Business Journal previously reported.
What’s more, Lucid also has been steadily growing its partnerships with other automakers and technology companies since it celebrated the grand opening in June of its Phoenix hub facility and Coolidge manufacturing plant — both of which it acquired from Nikola Corp. in a bankruptcy auction.
Lucid interim CEO Mark Winterhoff told the Business Journal in June that the company is continuing discussions with other automakers looking to leverage Lucid’s Casa Grande plant amid tariff uncertainty and efforts to onshore auto manufacturing.
Earlier this month, Lucid announced a partnership with Uber Technologies Inc. and Nuro Inc. to develop a robotaxi program exclusive to Uber’s platform.
Lucid will install Nuro’s hardware in its electric vehicles at its Casa Grande assembly plant, the Business Journal previously reported.
The three companies plan to launch the robotaxi program later this year in an unspecified U.S. city, and Uber expects to deploy more than 20,000 cars in dozens of markets globally over six years.
In addition, Lucid announced that owners of its Lucid Air sedans will gain access to Tesla’s national network of Superchargers, beginning July 31.
Despite Lucid’s recent momentum, the company’s stock has been slow to respond and is down 14.9% year-to-date as the company continues to scale up and move toward profitability.
The company, however, is making moves to increase its price per share and improve its ability to access capital markets using a 1-to-10 reverse stock split of its Class A common stock, according to a regulatory filing with the U.S. Securities and Exchange Commission.
“The board believes that a reduction in the number of outstanding shares, coupled with an increase in the per share price, would enhance the market perception of our common stock, particularly among institutional investors and other sophisticated market participants,” Lucid wrote in the filing.
Lucid shareholders are expected to vote on the reverse stock split during an Aug. 18 special meeting.
Shareholders were not very supportive Tuesday of the proposed reverse split. Lucid’s stock closed down sharply to $2.56 a share, a drop of more than 8%. The company is slated to report second quarter financial results on Aug. 5.