All discussion of Lucid Motors

[RobStark]

New interview with Peter Rawlinson.

Lucid plans Tesla Model 3 and Model Y rivals next: exclusive CEO interview | Auto Express

Lucid boss Peter Rawlinson reveals plans for four car range and car sales in the UK, while explaining the deal with Aston Martin

www.autoexpress.co.uk

Talks about making a Model 3 and Model Y competitors with a base price of $48k-$50k.

Says won't make a $25k BEV but would like to license Lucid tech to a company making a $25k BEV.

 

[MP3Mike]

I saw an ad for Lucid on Twitter yesterday, offering 0.9% financing or some cheap lease deals... Trying to move inventory...

 

[Singuy]

Lucid Produced 2,173 Vehicles During Q2 At AZ Manufacturing Facility, Delivered 1,404 Vehicles
Down 5% pre market

 

[MP3Mike]

Lucid released their P&D numbers: Lucid Announces Q2 Production & Deliveries, Sets Date for Second Quarter 2023 Results | Lucid Group, Inc.

Inventory up, with Days of Supply up to 244:

Of course, they have rolled out the same excuse has been used for the last quarter: "In addition, the company began material shipments to the Kingdom of Saudi Arabia."

 

[15Peter20]

Lucid Produced 2,173 Vehicles During Q2 At AZ Manufacturing Facility, Delivered 1,404 Vehicles
Down 5% pre market

So, a smaller inventory count than Tesla. Well done Lucid!

/s

 

[Singuy]

All EV stocks taking a nose dive after good premarket. I blame Lucid..lol.

 

[M|S|M MYP]

Lucid Produced 2,173 Vehicles During Q2 At AZ Manufacturing Facility, Delivered 1,404 Vehicles
Down 5% pre market

Rawlinson accent "We are definitely on track for Q3 and Q4, our deal with Aston Martin will be a game changer and we are on pace to produce over 2,174 vehicles in Q3 and over 2,175 vehicles in Q4"

 

[Mengy]

Ouch, Lucid seems stuck production & delivery wise, they just aren't progressing at all. Something is very wrong with Lucid, and if they don't fix it ASAP they aren't going to make it.

 

[MP3Mike]

Ouch, Lucid seems stuck production & delivery wise, they just aren't progressing at all. Something is very wrong with Lucid, and if they don't fix it ASAP they aren't going to make it.

It would seem that ~1,400/quarter is all the US market can absorb at the prices they are selling. If I recall correctly they started shipping vehicles overseas in 22Q4, but now they say they have "material" shipments in 23Q2. Were the prior shipments not "material"? (Just press/demo cars?)

Will Saudi Arabia be able to absorb their production? (It better be able to, since they have already started building a factory there, haven't they?)

My guess is that before bankruptcy they would shut down all operations in the US, and move everything to their factory in Saudi Arabia. (They are ~70% owned by them after all.)

But I think more telling than the P&D numbers will be the financials, have they been able to reduce COGS meaningfully? (My guess is not, given this quarter had the lowest production volume in the last year.)

 

[StarFoxisDown!]

Lucid Produced 2,173 Vehicles During Q2 At AZ Manufacturing Facility, Delivered 1,404 Vehicles
Down 5% pre market

While Lucid has a large sugar daddy in the Suadi’s, how anyone could be buying a Lucid today or going into the future is nuts.

The writing is on the wall. In a year, they’ll be bankrupt and anyone that has a Lucid will be up the creek when it comes to getting theirs serviced/updated

 

[M|S|M MYP]

While Lucid has a large sugar daddy in the Suadi’s, how anyone could be buying a Lucid today or going into the future is nuts.

The writing is on the wall. In a year, they’ll be bankrupt and anyone that has a Lucid will be up the creek when it comes to getting theirs serviced/updated

How it started..

 

[Dikkie Dik]

they started shipping vehicles overseas in 22Q4, but now they say they have "material" shipments in 23Q2.

If I’m correct they delivered 70 cars in Europe in ‘23, up from 8 in ‘22.

 

[SOULPEDL]

While Lucid has a large sugar daddy in the Suadi’s, how anyone could be buying a Lucid today or going into the future is nuts.

The writing is on the wall. In a year, they’ll be bankrupt and anyone that has a Lucid will be up the creek when it comes to getting theirs serviced/updated

Always thought Lucid was going for this old Pontiac look. I couldn't wait to invest at first sight! /s
They had some nice rear seats, right?

 

[gillfoto]

How it started..

View attachment 955632

“the best laid plans of mice and men”

 

[keydiver]

While Lucid has a large sugar daddy in the Suadi’s, how anyone could be buying a Lucid today or going into the future is nuts.

The writing is on the wall. In a year, they’ll be bankrupt and anyone that has a Lucid will be up the creek when it comes to getting theirs serviced/updated

I truly feel bad for the guy that I bought my 2016.5 Model S 90D from. He bought a Lucid, because he said "he wanted to see what a 2nd generation EV was like". I think he heard those words from some guy with a British accent, and he fell for it. If only he had realized last year that a 2022 Model S Long Range was already a 2nd generation EV.

 

[Singuy]

While Lucid has a large sugar daddy in the Suadi’s, how anyone could be buying a Lucid today or going into the future is nuts.

The writing is on the wall. In a year, they’ll be bankrupt and anyone that has a Lucid will be up the creek when it comes to getting theirs serviced/updated

I know, this company will have Q status soon. They will need to raise capital. I can't tell my friend who is heavy in Lucid and said this is his Tesla stock. I tried to get him to sell that one day when it popped above his cost basis of 14 due to buyout rumors. However it didn't last very long and he was under water within mins after I texted him.

 

[M|S|M MYP]

If i were Rawlinson...i would be afraid...very afraid......

Saudi Arabia’s PIF Wealth Fund Takes $11 Billion Investment Hit

(Bloomberg) -- Saudi Arabia’s sovereign wealth fund took an $11 billion loss on its investments last year — even as it stepped up a worldwide spending spree — after tumbling global stock and bond prices impacted its holdings. Most Read from BloombergSingapore Minister Faces Most Serious Graft...

finance.yahoo.com

 

[RobStark]

If i were Rawlinson...i would be afraid...very afraid......

Saudi Arabia’s PIF Wealth Fund Takes $11 Billion Investment Hit

(Bloomberg) -- Saudi Arabia’s sovereign wealth fund took an $11 billion loss on its investments last year — even as it stepped up a worldwide spending spree — after tumbling global stock and bond prices impacted its holdings. Most Read from BloombergSingapore Minister Faces Most Serious Graft...

finance.yahoo.com

PiF invested ~$3.8B for a 60.5% stake in Lucid.

That stake is worth $10.09B right now.

Lucid just started delivering to Europe and Middle East. There should be more cars in the delivery pipeline.

 

[MP3Mike]

PiF invested ~$3.8B for a 60.5% stake in Lucid.

Is that all they have put in, really? Electrek claims that they have invested about $9B: Lucid raises $3B from Saudi Arabia's PIF and stock sale

Saudi Arabia’s PIF has invested around $9 billion in the EV startup following the latest funding.

Maybe they were trying to say it was worth that much? But Crunchbase lists that they have raised $11.3B in 10 funding rounds. With PIF always putting in ~60%, that would mean that they put in closer to $7B. (But some of that is Debt.)

From what I can tell these are the major equity adds by the PIF:

• 2018: $1B
• July 21: $2.5B (This was part of the Churchill Capital IV Corp SPAC that I think is the main one you missed.)
• Dec 22: $0.9B
• June 23: $1.5B

That adds up to ~$5.9B. Still not bad, a 69% return so far... But if they were to try to cash that, out to realize the gains, the stock would tank.

 

[Singuy]

Is that all they have put in, really? Electrek claims that they have invested about $9B: Lucid raises $3B from Saudi Arabia's PIF and stock sale



Maybe they were trying to say it was worth that much? But Crunchbase lists that they have raised $11.3B in 10 funding rounds. With PIF always putting in ~60%, that would mean that they put in closer to $7B. (But some of that is Debt.)

From what I can tell these are the major equity adds by the PIF:

• 2018: $1B
• July 21: $2.5B (This was part of the Churchill Capital IV Corp SPAC that I think you missed.)
• Dec 22: $0.9B
• June 23: $1.5B

That adds up to ~$5.9B. Still not bad, a 69% return so far...

The only way I see the Saudi winning is to unload the shares onto dumb retail investors like how insiders laughed themselves to the banks during the SPAC merger. That was a total scam and lots of dumb investors lost money on churchill capital. Lucid is a dead end. They will continue to lose 1.5B+ a quarter until nothing is left. The car was built on a platform of trying to one up Tesla, not to make money.