Lucid Group (NASDAQ: LCID), a maker of advanced electric vehicles, has reached an agreement with Gravity Inc., an American manufacturer of high-speed, EV-charging equipment. The agreement marks a compromise between the two companies regarding use of the Lucid Gravity trademark. According to the announcement, the agreement approves Lucid’s use of the Lucid Gravity brand, noting that the usage is without impinging on Gravity’s preexisting trademark. By reaching an agreement, the two companies are avoiding a dispute or legal action. A Gravity official noted that the company’s mission is to fuel growth in the EV space, stating that “when there is an opportunity to work together and collaborate across the sector, that’s the path we will take.” The company is committed to bring accessible, sustainable, electric transportation to American cities, the company representative said, and will work to ensure that everyone understands the “distinct value” of the two brands. “We are pleased to have reached an agreement with Gravity Inc.,” said Lucid Group general counsel Matt Everitt in the press release. “Anticipation is building for the Lucid Gravity, and we look forward to delivering the world’s most outstanding all-electric SUV.”

To view the full press release, visit https://ibn.fm/lTuoi

About Lucid Group Inc.

Lucid is a Silicon Valley-based technology company focused on creating the most advanced EVs in the world. The flagship vehicle, Lucid Air, delivers best-in-class performance and efficiency starting at $69,900*. Lucid is preparing its state-of-the-art, vertically integrated factory in Arizona to begin production of the Lucid Gravity SUV. The company’s goal is to accelerate humanity’s transition to sustainable transportation and energy. For more information about the company, visit www.LucidMotors.com.

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