Lucid Motors’ Post

Heading in the right direction.

When projections don’t go according to a plan 👇 In 2021, the electric car company, Lucid, went public via SPAC. In the presentation, the company had a plan to do $5.5B in revenue for 2023. So far this year, they are on track to hit $600M. That's 90% less than expected. In 2022, the company highlighted an installed annual production capacity of 34k cars. In 2023, they are aiming to produce 10k cars. 70% less than expected. The company still has liquidity until 2025. Lucid loses around $500K for every car they sell. Manufacturing is hard and profitable car manufacturing is almost impossible. The stock is currently trading at $6.5 and it is actually up 6% this year, but down 63% in the last 12 months. For what it’s worth it is by far the best car I ever tried, and I really hope they turn it around.  #electricalvehicles #lucid #mobility

This is one of many great things that happen when designers and engineers work intimately together to solve problems vs in silos. I had the opportunity to witness this first hand during my tenure at Lucid Motors. They were in the trenches together, learned tremendously from each other - and built something they loved. It happened because our CEO Peter Rawlinson fought to maintain this structure even when it was challenging and quite costly to convince people to come to SF Bay Area. If you are a leader, build trust with the other group and fight for this structure. If you are a designer or engineer - get close to your team members - it's worth it. #teamdevelopment #multidisciplinaryapproach #teamtrust #uxui #software #lucidmotors

***Lucid Group Inc.’s vehicle deliveries came in slightly ahead of analyst estimates in the fourth quarter*** Lucid has achieved a milestone by delivering 1,734 vehicles in the last quarter, surpassing Wall Street's average expectations of 1,696 vehicles. The automaker produced 8,428 electric vehicles throughout the year, showcasing its resilience and adaptability in challenging circumstances. Despite initial ambitions to produce up to 14,000 vehicles, Lucid navigated through the year with remarkable agility, adjusting its production forecasts in response to the lingering impacts of pandemic-era supply disruptions and operational inconsistencies at its Arizona facility. This approach demonstrates Lucid's commitment to quality and operational excellence, even under less-than-ideal conditions. #automotivenews #automotiveengineering #automotivemanufacturing #electricvehicles #lucidair

***Lucid Motors Defies Economic Headwinds with Impressive Q2 Performance*** -In a remarkable display of resilience and market appeal, Lucid Motors has posted impressive Q2 delivery numbers for its luxury electric vehicles: 21% quarter-over-quarter increase (2,394 vs 1,967) 70% year-over-year growth (2,394 vs 1,404) These results are particularly impressive given the challenging economic climate, where many automakers struggle to maintain sales, let alone achieve significant growth. Lucid's success underscores the enduring demand for high-end, premium electric vehicles, even in turbulent times. Key Takeaways: -Luxury market strength: Lucid's vehicles, with their premium price tags, continue to attract discerning buyers. -Growing brand appeal: Significant YoY growth indicates increasing consumer confidence in Lucid's offerings. -Expansion plans: Opening reservations in Europe signals confidence in global market potential. -Lucid's ability to weather the economic storm and thrive in it speaks volumes about the quality and desirability of their luxury electric vehicles. As the company prepares to discuss its financial results on August 5, 2024, all eyes will be on this rising star in the automotive world. #automotivenews #manufacturingengineering #automotiveengineering #electricvehicles #ev #lucidmotors

Lucid Slashes Air Sedan Pricing for 2023 Model Year https://lnkd.in/eMcDP_yR Lucid Motors has dramatically reduced pricing across the 2023 Air sedan model range, realigning costs with originally announced figures. The welcome price cuts make the advanced electric Lucid Air more attainable. Overview of 2023 Lucid Air P... #Wiack #Car #CarInsurance #CarRental #CarPrice #AutoLoans

Demand for electric vehicles grew slower than expected in the past year due to high borrowing costs, economic uncertainties, and consumer preference for hybrid alternatives. Automakers responded by slashing prices and offering incentives, like cheaper financing, to attract customers. In the case of Lucid Motors, this strategy proved effective, exceeding delivery forecasts in the first quarter of 2024 with 1,967 vehicles delivered. However, production fell to 1,728 vehicles, below the estimated 2,123 and significantly less than the previous quarter's 2,391. Despite these challenges, Lucid enjoys the confidence of its largest shareholder, the Public Investment Fund of Saudi Arabia, which injected $1 billion into the company. It is also worth noting that Lucid Motors' stock value is recovering from its mid-May slump. 👉 Thanks to price cuts, the cheapest Lucid Air Pure model now costs $69,900. We won't hide that we strongly support our friends at Lucid 🤜💥🤛 and are thrilled that this manufacturer is overcoming difficulties. It is a brand that has a lot to offer both its customers and the entire automotive industry. From our own experience, we know how much passion, commitment, and genuine love for engineering have been poured into every element of Lucid's products!

Heard of Lucid Motors ? - Lucid Group, Inc. is an American manufacturer of electric luxury sports cars and grand tourers headquartered in Newark, California. Their first vehicle is the Lucid Air. - Lucid vehicles are designed in California and manufactured at Lucid's factory in Arizona. - The company was founded in 2007. - Since April 2019, Lucid has been majority-owned by Public Investment Fund, the sovereign wealth fund of Saudi Arabia Lucid recently announced that they will adopt Adopt North American Charging Standard (NACS) in 2025 Bringing Greater Convenience to Lucid Customers. This means: - New #lucid customers will be able to access 15,000+ Tesla Superchargers in North America in 2025 - Existing Lucid vehicles built with the current Combined Charging System (CCS) will be able to access the Tesla Supercharger network via an adapter in 2025 Seems like a sensible decision as Tesla own the charging network. Wonder what they will charge to use it? #technology #infrastructure #car

Lucid Motors will only build 9,000 EVs in 2024 after once predicting it would ship 90,000 Lucid Motors plans to physique conscionable 9,000 electrical vehicles successful 2024, lone 500 to 1,000 much than it made successful 2023, arsenic it struggles with request for its luxury sedans. If it sticks to that number, that means Lucid volition upwind up gathering astir 10% of the 90,000 EVs it predicted it could marque and merchantability successful 2024 erstwhile it went nationalist 3 years ago. The chasm betwixt the caller figures and those archetypal expectations spotlights however overmuch state companies similar Lucid had successful promoting the reverse mergers that helped truthful galore go publically listed. And it’s a motion of the brutal world Lucid present faces: that it’s inactive scrambling to find buyers and losing wealth connected each EV it builds. Lucid announced the 2024 accumulation targets connected Wednesday alongside its fiscal results for past year, wherever it shared that it mislaid $2.8 cardinal successful 2023. The humble projection comes a fewer days aft the institution slashed the prices of its Air sedan by $8,000. CEO Peter Rawlinson has spent overmuch of the past twelvemonth talking astir however important it is for his institution to amended its income and selling efforts, portion besides pointing to the upcoming Gravity SUV arsenic a imaginable boost. The Gravity is 1 of the reasons Lucid primitively forecasted being capable to marque and vessel 90,000 vehicles successful a fewer abbreviated years. In fact, successful the presentation Lucid utilized to beforehand its 2021 merger with a peculiar intent acquisition company, it predicted the Gravity would outsell the Air sedan successful 2024. The reality, though, was that Lucid ran into a fig of proviso concatenation and accumulation problems successful the aboriginal days of the Air and successful 2022 had to propulsion backmost the motorboat of the Gravity. The institution yet revealed the SUV successful November 2023, and says it plans to commencement gathering them by the extremity of this year. https://ift.tt/Vb7rMXP

In November 2021, the EV automaker Lucid Group, Inc. (LCID) saw its stock reach its high of $52.98. Since then, it has been on a steady decline, plummeting by 95% to its current trading price of $3.28.   ❓What is Lucid? Lucid is an automotive company specializing in luxury-class Electric Vehicles (EVs).   ❓Why was it doing so well? In 2021, the company began delivering cars, and the demand for its premium-class electric vehicles surged.   ❓How did it perform in 2023? Lucid Motors manufactured 8,428 vehicles and delivered 6,001 in 2023, falling short of its initial production estimates of 12,000 vehicles. However, its net losses over the last three quarters exceeded $2 billion due to high cash burn rates.   ❓Is a Lucid stock reversal possible? Lucid Motors remains a high-risk, high-reward asset. To regain investor interest, it needs to ramp up production and deliveries while improving profit margins.   For traders seeking potential opportunities in the market, consider exploring the diverse range of stock CFD options available globally on the TradeEU Global platform.   ……… Your capital might be at risk FSC license: GB21026906 ………   #tradeeu #cfds #bigtech #earningsreport #stockmarket #dowjones #dowjonesindustrialaverage #stocks #lucid #stocktrading #electricvehicles #electricvehicle #tradingview #tradingsignals #tradingstocks #tradingcommunity #tradingtips #tradinglifestyle #tradingeducation #tradingonline #tradingplan #tradingplatform #traderlife #nasdaq100 #nasdaqsignals #nasdaqtrading #sp500 #sp500trading #indices #stockcharts