Lucid Group teams up with Bank of America for lender and financing services

Credit: Lucid Group

Lucid Group (NASDAQ: LCID) has announced that it has selected Bank of America as its preferred lending partner, giving customers the opportunity to apply for financing services for a seamless and stress-free experience.

Lucid has accumulated more than 17,000 reservations for its Air sedan, which it started delivering in late October. With over 17,000 customers patiently waiting for their vehicles currently, there are plenty of people who will need financing and lending services, and Lucid has chosen Bank of America to handle its consumer finances.

“The strategic relationship between Lucid and Bank of America is another way of enhancing and streamlining the vehicle buying experience for Lucid customers,” Amira Aly, Director of Financial Services at Lucid, said. “Lucid will continue to build out its consumer finance journey with compelling offerings in order to get more vehicles into the hands of customers as we deliver the most advanced EV in the world.”

Lucid Group and Bank of America share a sustainable approach in their company missions, with the automaker pledging to create all-electric, sustainable, and environmentally-friendly automobiles. Bank of America has a $1 trillion commitment to practices that will decrease greenhouse emissions and increase the company’s sustainable footprint. Fabien Thierry, Head of Vehicle Lending Products at Bank of America, said, “Supporting the growing demand for electric vehicles through an innovative financing solution is a critical step toward a low-carbon future. This financing solution was developed for Lucid to make it easier for customers to finance electric vehicles. This effort reinforces our $1 trillion commitment to environmental transition and other low-carbon solutions.”

Disclosure: Joey Klender is not a LCID Shareholder.

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Joey Klender: Joey has been a journalist covering electric mobility at TESLARATI since August 2019. In his time at TESLARATI, Joey has broken several big stories, including the first images of the Tesla Model S Plaid, the imminent release of the 4680 Model Y through EPA certification, and several expansions to the Lucid AMP-1 factory in Arizona, to name a few. His stories have been featured in several publications, including Yahoo! Finance, Fox News, CNET, and Seeking Alpha. In his spare time, Joey is playing golf, watching MMA, or cheering on any of his favorite sports teams, including the Baltimore Ravens and Orioles, Miami Heat, Washington Capitals, and Penn State Nittany Lions. You can get in touch with joey at He is also on Twitter @KlenderJoey.
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