Exactly. Look, not everyone is as good a CEO as Elon, but at least be half as good as him? None of the EV startups is a real company in my opinion. A real company is one that has a hope of making money. None of the EV startups have even come close to demonstrating this is possible.
Correct, Lucid is only losing 117k per car from a gross profit standpoint. Given their ASP is around 87.7k, their gross margins are only -133%, practically breaking even.
That's the quarter I got my Model S. I had only reserved late November 2022. But in January 2023, the infamous NY Times article came out alleging the journalist ran out of charge looking for a Supercharger. That caused oodles of reservations holders to "pause" their deliveries. I remember in February when I picked it up, the Tesla employee heartfelt thanked me for continuing through with the purchase.
You mean what Lucid reports to its own investors and the SEC is BS?
I'd be curious to see a breakdown of Lucid's marginal costs per vehicle, to understand what they're actually spending $234k on for a $100k car, and how they plan to reduce these costs below $100k. It's hard to imagine they'd get funding, even by the Saudis, if they didn't have a credible plan to do this. The plan may fail of course, but I'm still curious what it is.
I'm gonna ask them to pay me, say 50k, for not ordering one. I'm cheap, they're getting a 67k discount.
Yeah, it's pretty ridiculous to post such numbers and not give investors a clear explanation. They talk about fixed costs, but total D&A including non-factory stuff like offices, CAD systems, etc. was only 69m in Q1. That's at most 17% of COGS or about 35k/car and realistically maybe 15% / 30k. So even tripling production to 27k/year would only reduce factory D&A per car from 30k to 10k. They've got MAJOR cost issues beyond factory fixed cost but they refuse to give meaningful info on the other cost drivers.
