"I sold enough stock to get to around 10%, plus the option exercise stuff," Musk said in an interview with The Babylon Bee.
The billionaire sold another 934,091 shares of the electric-vehicle maker worth $963.2 million on Thursday, a Securities and Exchange Commission filing showed.
Lucid's market cap is roughly $87 billion as of Tuesday noon, surpassing Ford's $79 but still far below Tesla's roughly $1 trillion.
Bank of America recently called Lucid the next Tesla or Ferrari of electric vehicle makers. Lucid's first cars have rolled off the assembly line.
A large automaker will also purchase capacity from QuantumScape's pre-pilot production line facility.
As the world slowly switches from gas power to electric cars, EV startup ElectraMeccanica also asks us to rethink how many passengers we really need.
The Mini Strip is comes from Mini and British fashion designer Paul Smith, who wanted to showcase simplicity and the beauty of raw materials.
Fisker says it's on course to start producing its Ocean SUV in November 2022.
Tesla's 5% surge on Monday helped the stock trade above the $700 level for the first time since late April.
Lucid expects to deliver less than 1,000 of its Lucid Air model in 2021, and about 20,000 vehicles in 2022.
"The software and services business attached to the EV shift represents a potential gold mine," Wedbush analysts write.