Lucid Lucid News

[Centurion]

The Saudi's, from my understanding have stated their in it for awhile. Particularly with the factory that's been built. But even I know patience wears thin, very quickly.

Saudi will support Lucid for as long as it suits the country's political agenda.

If you thought that Tesla's cash burn was insane when they launched the Model 3, the loss per car delivered by Lucid will be unprecedented when they start delivering Gravity whilst developing a cheaper car.

 

[kiki voinea]

Saudi will support Lucid for as long as it suits the country's political agenda.

If you thought that Tesla's cash burn was insane when they launched the Model 3, the loss per car delivered by Lucid will be unprecedented when they start delivering Gravity whilst developing a cheaper car.

Whoever thinks Saudi cares about green cars and blabla , they should reconsider for a bit.

Saudi is on a spending spree right now . Because they might lose US support if oil is slowing down the pipes. And they need to at least have a tourist strategy if they want to feel "safe".

And investing in all sorts of things is a way to remain "relevant" . But I don't feel they really care about that money.

My bet is that Lucid will lose Saudi as a bank.

Either way , Lucid has only Saudi as a savior . As long as interests keep high , nobody is going to invest money right now

 

[Tourbillon]

Saudi will support Lucid for as long as it suits the country's political agenda.

If you thought that Tesla's cash burn was insane when they launched the Model 3, the loss per car delivered by Lucid will be unprecedented when they start delivering Gravity whilst developing a cheaper car.

Perhaps. Then they'll have nobody to blame but themselves.

 

[Centurion]

OMG

Lucid Motors plans to build just 9,000 electric vehicles in 2024, only 500 to 1,000 more than it made in 2023, as it struggles with demand for its luxury sedans. If it sticks to that number, that means Lucid will wind up building around 10% of the 90,000 EVs it predicted it could make and sell in 2024 when it went public three years ago.

Lucid Motors will only build 9,000 EVs in 2024 after once predicting it would ship 90,000 | TechCrunch

Lucid Motors follows up a rough 2023 with modest predictions for 2024, putting even more pressure on its upcoming SUV.

techcrunch.com

 

[tristatez28lt1]

Still baffles me that such an amazing car can’t get off the ground. What’s the problem? I rarely see marketing for them, they have few stores, seem slow in building all the other things in the company?

 

[Centurion]

Still baffles me that such an amazing car can’t get off the ground. What’s the problem? I rarely see marketing for them, they have few stores, seem slow in building all the other things in the company?

We are back to pre-covid over supply of cars on the cars. Furthermore unlike ICE cars EVs don’t have planned obsolescence. A 2024 EV doesnt have meaningful superiority over once that’s 4-5 years.

Therefore the incentive or pull to buy a brand new model over a used one is small. In comparison with ICEs, a newer car had improved gearbox, engine, large infotainment screen, faster ancceleration and a few other extras. However, tech has no reached s point of ubiquity. Cars are turning into appliances.

 

[kiki voinea]

Still baffles me that such an amazing car can’t get off the ground. What’s the problem? I rarely see marketing for them, they have few stores, seem slow in building all the other things in the company?

Bad timing

Also , bad pricing , IMO

Most marketing done for them is via social media and YouTube.

And what did social media and YouTube done to them? Compare it with Plaid , in almost every clip and link out there

When Plaid is 2x cheaper than your model....People probably went and bought Plaid

Model S , an pretty obsolete car by design , still sold over 30.000 units last year. That is over 3 times what Lucid had...

And most press done for them , was only with the top version. People got scared about the price. I don't know how many know that there is a 70k Lucid , when you are only hit by "here is the 250k Lucid Air"

 

[Centurion]

Bad timing

Also , bad pricing , IMO

Most marketing done for them is via social media and YouTube.

And what did social media and YouTube done to them? Compare it with Plaid , in almost every clip and link out there

When Plaid is 2x cheaper than your model....People probably went and bought Plaid

Model S , an pretty obsolete car by design , still sold over 30.000 units last year. That is over 3 times what Lucid had...

And most press done for them , was only with the top version. People got scared about the price. I don't know how many know that there is a 70k Lucid , when you are only hit by "here is the 250k Lucid Air"

Good point. By not promoting the Pure model enough, Lucid made consumers feel priced out.

 

[Tourbillon]

"Lucid Announces Fourth Quarter and Full Year 2023 Financial Results

https://ir.lucidmotors.com/news-releases/news-release-details/lucid-announces-fourth-quarter-and-full-year-2023-financial/

Delivered 1,734 vehicles in Q4 and 6,001 vehicles in 2023, up 37% compared to full year 2022

Produced 2,391 vehicles in Q4 and 8,428 vehicles in 2023, meeting the higher-end of 2023 annual production guidance of 8,000 to 8,500 vehicles

Q4 revenue of $157.2 million and annual revenue of $595.3 million.

Ended the quarter with approximately $4.78 billion of total liquidity.

Lucid is embarking on the Company's next transformational phase, with the expansion of its vehicle lineup and total addressable market.

2024 production guidance of approximately 9,000 vehicles

NEWARK, Calif., Feb. 21, 2024 /PRNewswire/ -- Lucid Group, Inc. (NASDAQ: LCID), setting new standards for luxury electric experience with the Lucid Air, America's most awarded new luxury vehicle 1 and selected to Car and Driver's 10Best list for 2024, today announced financial results for its fourth quarter and full year ended December 31, 2023. The earnings presentation is available on its investor relations website (https://ir.lucidmotors.com)."

That's simply not sustainable. Smh!

 

[Centurion]

In hindsight, investors got played by this announcement:

Saudi government orders up to 100,000 electric vehicles from PIF-owned Lucid

The fine prints: https://www.prnewswire.com/news-rel...p-to-100-000-electric-vehicles-301533557.html

Lucid Group, Inc. (NASDAQ: LCID), setting new standards with the longest-range, fastest-charging electric car on the market, today announced an agreement with the Government of Saudi Arabia, under which the Government will purchase up to 100,000 vehicles over a ten-year period, with an initial commitment to purchase 50,000 vehicles and an option to purchase up to an additional 50,000 vehicles over the same period.

The order quantity is expected to range from 1,000 to 2,000 vehicles annually and increase to between 4,000 and 7,000 vehicles annually starting in 2025, with the delivery of the vehicles required to commence no later than the second quarter of 2023.

 

[Tourbillon]

In hindsight, investors got played by this announcement:

Yes.

 

[tristatez28lt1]

Lucid Prepares to Announce Partnership with Hyundai on Electric Motors - EV

Luxury electric vehicle startup Lucid Motors is reportedly gearing up to announce a partnership providing Hyundai's premium brand, Genesis, with electric motors.

eletric-vehicles.com

Lucid Prepares to Announce Partnership with Hyundai on Electric Motors

27th May 20246 Min ReadPosted byBy

Luxury electric vehicle startup Lucid Motors is reportedly gearing up to announce a partnership providing Hyundai’s premium brand, Genesis, with electric motors.
The collaboration aims to accelerate the development of a new all-electric sports car slated for a 2025 launch by Genesis. Additionally, Hyundai plans to release the GV90, an electric sport utility vehicle from Genesis by late 2025.

Lucid‘s involvement comes as the U.S. startup seeks to establish its second partnership following Aston Martin’s in mid-last year. Shares of the electric vehicle startup reached a new all time low at $2.29 in late April as Lucid continues reducing costs while preparing the launch of its SUV Gravity later this year.

Reports from local media outlet Sisa Journal claim that Hyundai Motor CEO Jang Jae-hoon visited Lucid‘s headquarters in California earlier this year to explore potential cooperation between the two automakers.

 

[kiki voinea]

Lucid Prepares to Announce Partnership with Hyundai on Electric Motors

I thought Hyundai withdrawal from this deal some time ago.

Honestly , I doubt it . Maybe Lucid just throws this news to buy some time.

By this time , only the US Gov can bail them out

 

[Tourbillon]

https://ir.lucidmotors.com/news-releases/news-release-details/lucid-announces-q2-production-deliveries-sets-date-second-0/

"Lucid Announces Q2 Production & Deliveries, Sets Date for Second Quarter 2024 Results

July 8, 2024

PDF Version

NEWARK, Calif., July 8, 2024 /PRNewswire/ -- Lucid Group, Inc. (NASDAQ: LCID), maker of the world's most advanced electric vehicles, today announced production and delivery totals for the quarter ended June 30, 2024. Lucid produced 2,110 vehicles and delivered 2,394 vehicles during this period."

Those figures are

Smh.

 

[klier]

It was nice knowing you Lucid.

 

[Tourbillon]

It was nice knowing you Lucid.

They seriously need a management change. Those are crisis figures.

 

[Centurion]

Lucid produced 2,110 vehicles and delivered 2,394 vehicles during this period."

Those figures are

Were 70% of those orders placed by Saudi Arabia, Lucid's senior management and Sales directors?