Want to purchase concerned about viability

[Cosmo Cruz]

Since we're straying a bit ... I was an early-adopter because the weather forecast for this planet does not look so hot (ironic poetic license).
I have kids, and grandkids. Looks like they will see the end/ending of human civilization, and it's all my fault. Also, I worked on developing a cheap source of lithium, did work on lithium battery chemistry, sent hundreds of samples all over world, and worked on the foil impurities and dendrite problem.

So I had skin in the game. Nobody, nothing, was going to stop me from buying the Lucid. I am an EVangelical.

Soon there will be enough Lucids in the wild that people like the OP can get a proper ride / test drive. I'd love to do this. Some way to let the general public know we are having a gathering so they can come and see / feel / drive the cars? Agree with Deane ... a showroom test drive is not nearly enough.

 

[xponents]

Everyone has a different risk quotient. There is some risk in purchasing a vehicle from a new company but there is also some risk in purchasing a car from an established company: Studebaker, Plymouth, etc. Each of us must determine which risks cause angst and which are manageable to the individual.

When Saab ceased to exist, other dealers took on the responsibility of stocking replacement parts, etc. But, when it failed, it was part of GM (which also probably explains why it failed) and Lucid is not part of any existing car company,

This post, to here, demonstrates to me the validity of what I am saying. Some think the OP makes sense, some think it is not a real fear, etc. Only the OP can make that determination for herself.

True, my community for example is more "conservative" and most people I try to convince give the same reason: that Lucid might go bankrupt. Some of this is further exacerbated by such nonsense from people like you-know-who.

... it was part of GM (which also probably explains why it failed ...

Also, this is savage and sadly true

 

[Tâm]

I am looking to purchase my first EV. I really love the luxury of Lucid, but I am concerned about its long term viability. This is nothing against Lucid. I just feel this way about any start up company.
As I like to actually purchase rather than lease my cars, I need to know that the warranty is supported by a company that will be there when I need them. Even if you get past the warranty issue, how do you get comfortable knowing that replacement parts will be available when needed?

I really don't want to purchase a TESLA. But I am really wondering how are people getting comfortable with the aforementioned risks?

There's no guarantee in life. Even among the Big Three: GM and Chrysler already went through bankruptcies.

Lucid is a quality product so even if it will not make it in the future, I think there are many informed customers who will keep the company going for many years to come.

That means I believe Lucid will still be around long after your warranty runs out, so there's no fear about extinct replacement parts for the foreseeable future.

 

[Cosmo Cruz]

Anyone see the Matt Damon scene in Syriana (he's financial consultant for House of Saud) where he's arguing with them , loses his temper, and says something like:
" ... what do I think? I think a hundred years ago you were living in the desert in tents and cutting peoples heads off, and in a hundred years, when the oil runs out, you'll be back living in tents cutting people's heads off."

They heard it. Saudi's are heavily invested in nuclear, solar, and now heavily invested in Lucid. Imagine Saudi Arabia as a major EV producer ?

 

[no gas]

I had these same concerns when I bought the first of our Teslas 9 years ago.

As others have said, Lucid’s IP is very valuable and, worse case, someone would buy up the company just for that. Someone who is far behind in EV‘s - like Honda, for example.

Saudis won’t sell, they want EV manufacturing in Saudi Arabia, that’s why they are holding majority stake. No takeover possibility.

 

[rgsuperdad@gmail]

I am looking to purchase my first EV. I really love the luxury of Lucid, but I am concerned about its long term viability. This is nothing against Lucid. I just feel this way about any start up company.
As I like to actually purchase rather than lease my cars, I need to know that the warranty is supported by a company that will be there when I need them. Even if you get past the warranty issue, how do you get comfortable knowing that replacement parts will be available when needed?

I really don't want to purchase a TESLA. But I am really wondering how are people getting comfortable with the aforementioned risks?

They are not really a start up. They have been in business for quite a while. They are just expanding on there tech. With there backing they have now and 2 factories they are only going to get bigger. They know that and that is why they have not tried to slam the market. Quality over quantity. Once the reputation is there production will follow. And there reputation is definitely there now. I think its going to really kick when gravity gets to market.

 

[Steveinarizona]

The Fisker example with all due respect is irrelevant. Lucid is a superbly engineered, quality vehicle and Fisker is not a comparable. Go ahead and lease. I think that is bad advice depending on your time horizon and personal liquidity. Vehicles actually appreciate over a 10-20 year timeframe and EV’s especially so with 250,000-350,000 mile lifespans.

We are all different. Some are highly risk averse, others live for risk. Some keep a car for a long time, others get new ones every few years. Some go for the newest technology, some prefer the solace of reliability.

Of course there is risk. There is always risk. Personally, I am not concerned of the Lucid continued existence risk for the reasons noted above (and before it is pointed out, I don't currently drive a Lucid) but some might. For some who are concerned, leasing might be a good alternative; for others not so much. For some, a more established car company. But they can go too (Saab; Studebaker; Hudson; Rambler; etc.) and I haven't even mentioned the brands that have disappeared but their parents remain (Oldsmobile, Mercury, Plymouth, etc.).

There is a risk on the golf course of being hit and seriously injured by a golf ball from another golfer. My father was blinded in one eye that way. Do I recognize there is a risk...yes. Do I let it stop me...no. But I might move on a certain hole to a different location to be safer and a different golfer might not move at all and a third golfer might move much earlier. All of us saw the same risk but we all took different actions probably based on our conclusions as to probability.

 

[Buffalo Bob]

I would suggest that you break your usual pattern, and get an 18 month lease on a Lucid. I'm a retired finance guy, and my nature is to pay cash for everything, but the lease deals that Lucid has been offering are more than compelling. If I were buying today, I would at least explore that route. A short-term lease will have you experiencing a truly great car without the viability anxiety you mentioned, and by the end of 18 months, I expect your those concerns will be behind you. You will even have Lucid sedan and SUV options at that time, and I would wager a revised residual which might make you think about buying out your lease. If you want to go that route, please feel free to direct message me, and I would be happy to share the benefit of my ownership and buying experience. Also, be aware of the additional in stock inventory incentives available, and the referral discount. (You would be welcome to use mine. It's below my handle to the left.) I hope you'll give Lucid a try!

 

[Buffalo Bob]

Hi, all. I just realized that @Trlynyc's original post dates back to 2/19/24, so I imagine that a decision one way or another has already been reached. Like the other replies, I hope he went with a Lucid.

Hey, @Trlynyc! If you see this, please let us know what you decided! If you went with a Lucid, send us the details and a photo. If you went with a Tesla... well, you don't gotta.

BB

 

[terrycs]

Interesting reading for those interested ...

Vanguard Fund Doubles Stake in Lucid Motors, Buys 6.8 Million Shares in Q1 - EV

One of the world's largest investment advisors, Vanguard Group, has increased its position in the luxurious electric vehicle maker Lucid Motors by 104 percent in the first quarter of the year, a recent form reveals.

eletric-vehicles.com

 

[hmp10]

As I like to actually purchase rather than lease my cars . . . .

I, too, prefer to lease. but only because I am a high-mileage driver and usually spend thousands of dollars on installing radar/laser detectors and putting paint protection film on my cars, all of which goes down the drain at the end of a lease. Otherwise, however, leasing is often a better deal financially than purchasing a car. That is especially the case with Lucids right now due to their effort to move inventory with very favorable lease deals and good residuals. (Also, if you know you're only going to keep a car for a 2-4 year lease period, you don't really need to worry about paint protection. Your car finish will look fine at the end of the lease with just routine maintenance.)

I don't know what Lucid's fate will ultimately be. But if it worries you, a lease on current terms is a very good way to hedge that risk and allow you at least a few years in the finest sedan on the planet.