Lucid Q1 Financials and Forward Looking

[socktucker]

The Gravity launch issues are not as bad as the Air and the Air is selling better than any car in its class. I expect Gravity will do the same.

I’ve had the GGT for two weeks while my Air in service. If I could get the software of my BMW in it, a little more attention to detail, and then everything else stay the same as it is, it might be perfect.

Idk this financial report isn’t the doom and gloom it coulda been. It’s not even really that bad

 

[erigion]

And I don’t think as many people cared (or understood) about their efficiency as they hoped.

Compared to legacy luxury brands, the Gravity is lame inside. Things like “Sanctuary” are totally stupid compared to how BMW does it, for example. They should just take that out instead of having a lame version.

Another example, I tried Lucid Assistant using its recommended prompt “what is Lucid Dream Drive and How Does it Work?” And it gave the dumbest nonsensical answer about “super technology” and no info on how to use it or what it does. Who approved that?!? Just some disappointing stuff.

Did they say nothing about the midsize? The AI versions I’ve seen look great. Imagine a Lucid Model Y, that would be awesome.

Efficiency in an EV is almost meaningless at the price level they're currently competing in. People who can spend 100k on a car from a brand-new brand will have a home with a garage or private driveway they can charge at. And buyers at that price have never really cared that much about efficiency.

Once again, if I were an investor, I'd want one of these executives to answer for their product timeline decisions. A fastback/coupe SUV should come after the more traditional SUV, if it even gets made at all. The Model Y could get away with the teardrop shape because it was the only midsize EV for a long time. Even the EVs released 5 or so years ago like the Mach-E, EV6, and Ioniq 5 weren't exactly traditionally shaped SUVs. Now with battery advances, we're seeing them with the iX3, EX60, and R2.

The two former vehicles have so many pre-orders in Europe alone that their factories have been running extra shifts. People who see the EX60 say they want the Cross Country variant even though it mostly has more black body cladding so it looks more "outdoorsy." The R2 has people like Doug Demuro saying that it is the EV he would buy. As annoying as some people might find him, I'd bet he knows more about the US car market than most people. On his podcast, he literally says that the Cosmos is another minivan that looks like a "weeny car" and it won't sell. This is backed up by the only influencer (Kyle from Out of Spec) that has seen and sat in the Cosmos says the R2 has more headroom in the rear seat. And his co-host on that episode found the exterior design interesting at best.

Selfishly, I want a more traditionally shaped SUV, with an 800v architecture if possible. Unselfishly, the market share of the fastback SUV is just multiple times smaller than the traditional one. Why would a company willingly target a smaller market? The US market has spoken. People here love things big and bold and brash. One of the worst on-road vehicles ever, the Jeep Wrangler, sells over 150k in the US alone mostly because it looks cool and rugged. The big three pickups (Plus Toyotas) get bigger and bigger with every generation.

If Lucid wants to zag, that's fine, but they might find out they're running into a brick wall with that more efficient shape.

 

[socktucker]

Efficiency in an EV is almost meaningless at the price level they're currently competing in. People who can spend 100k on a car from a brand-new brand will have a home with a garage or private driveway they can charge at. And buyers at that price have never really cared that much about efficiency.

Once again, if I were an investor, I'd want one of these executives to answer for their product timeline decisions. A fastback/coupe SUV should come after the more traditional SUV, if it even gets made at all. The Model Y could get away with the teardrop shape because it was the only midsize EV for a long time. Even the EVs released 5 or so years ago like the Mach-E, EV6, and Ioniq 5 weren't exactly traditionally shaped SUVs. Now with battery advances, we're seeing them with the iX3, EX60, and R2.

The two former vehicles have so many pre-orders in Europe alone that their factories have been running extra shifts. People who see the EX60 say they want the Cross Country variant even though it mostly has more black body cladding so it looks more "outdoorsy." The R2 has people like Doug Demuro saying that it is the EV he would buy. As annoying as some people might find him, I'd bet he knows more about the US car market than most people. On his podcast, he literally says that the Cosmos is another minivan that looks like a "weeny car" and it won't sell. This is backed up by the only influencer (Kyle from Out of Spec) that has seen and sat in the Cosmos says the R2 has more headroom in the rear seat. And his co-host on that episode found the exterior design interesting at best.

Selfishly, I want a more traditionally shaped SUV, with an 800v architecture if possible. Unselfishly, the market share of the fastback SUV is just multiple times smaller than the traditional one. Why would a company willingly target a smaller market? The US market has spoken. People here love things big and bold and brash. One of the worst on-road vehicles ever, the Jeep Wrangler, sells over 150k in the US alone mostly because it looks cool and rugged. The big three pickups (Plus Toyotas) get bigger and bigger with every generation.

If Lucid wants to zag, that's fine, but they might find out they're running into a brick wall with that more efficient shape.

True on a lot of points. I bought an i7. I wanted a 7 series with an electric power train, not some weird looking car like Mercedes made.

I don’t think the Gravy looks bad tho it looks really good.

 

[Adnillien]

The PIF is a double edge sword. The financial backing is great and provides a stable path for Lucid. The management pieces like starting with a Sedan rather than SUV is not. Worse is the AMP-2 factory in Saudi Arabia. Lucid does not have the demand to fill AMP-1, no company Lucid's size would be opening a second factory with the associated CapEx and depreciation unless forced to by the PIF. A good portion of the high cash burn is directly attributable to the PIF. That is OK for the PIF, not so good for retail investors like us.

Further, I do worry about starting midsize production in AMP-2 where all employees have to be trained in assembly since there is no other auto assembly in the area. A new factory with an inexperienced workforce is not a good way to start production of midsize. Again, I think this decision was largely driven by the PIF. On the good side, the factory gives the PIF more incentive to make Lucid successful.

 

[Need4Sleep]

Efficiency in an EV is almost meaningless at the price level they're currently competing in. People who can spend 100k on a car from a brand-new brand will have a home with a garage or private driveway they can charge at. And buyers at that price have never really cared that much about efficiency.

Once again, if I were an investor, I'd want one of these executives to answer for their product timeline decisions. A fastback/coupe SUV should come after the more traditional SUV, if it even gets made at all. The Model Y could get away with the teardrop shape because it was the only midsize EV for a long time. Even the EVs released 5 or so years ago like the Mach-E, EV6, and Ioniq 5 weren't exactly traditionally shaped SUVs. Now with battery advances, we're seeing them with the iX3, EX60, and R2.

The two former vehicles have so many pre-orders in Europe alone that their factories have been running extra shifts. People who see the EX60 say they want the Cross Country variant even though it mostly has more black body cladding so it looks more "outdoorsy." The R2 has people like Doug Demuro saying that it is the EV he would buy. As annoying as some people might find him, I'd bet he knows more about the US car market than most people. On his podcast, he literally says that the Cosmos is another minivan that looks like a "weeny car" and it won't sell. This is backed up by the only influencer (Kyle from Out of Spec) that has seen and sat in the Cosmos says the R2 has more headroom in the rear seat. And his co-host on that episode found the exterior design interesting at best.

Selfishly, I want a more traditionally shaped SUV, with an 800v architecture if possible. Unselfishly, the market share of the fastback SUV is just multiple times smaller than the traditional one. Why would a company willingly target a smaller market? The US market has spoken. People here love things big and bold and brash. One of the worst on-road vehicles ever, the Jeep Wrangler, sells over 150k in the US alone mostly because it looks cool and rugged. The big three pickups (Plus Toyotas) get bigger and bigger with every generation.

If Lucid wants to zag, that's fine, but they might find out they're running into a brick wall with that more efficient shape.

Wouldn't the Earth and to-be-announced-offroader midsize variants be the outdoorsy models you're referring to?

 

[illopp00]

Wouldn't the Earth and to-be-announced-offroader midsize variants be the outdoorsy models you're referring to?

I think he is suggesting they might as well release them together. If there really is that much part sharing and commonality. It will get Lucid actually more scale earlier assuming they can handle the service and debugging.

 

[erigion]

Wouldn't the Earth and to-be-announced-offroader midsize variants be the outdoorsy models you're referring to?

Yes, but that's supposedly coming out a year after Cosmos so 2028. Lucid may be bankrupt by then

I think he is suggesting they might as well release them together. If there really is that much part sharing and commonality. It will get Lucid actually more scale earlier assuming they can handle the service and debugging.

Yea, during their investor day a month ago, they said Cosmos and Earth shared 90-95% of parts. So Lucid should swallow their pride and release Earth first.

 

[Need4Sleep]

I think he is suggesting they might as well release them together. If there really is that much part sharing and commonality. It will get Lucid actually more scale earlier assuming they can handle the service and debugging.

yeah, I was thinking along the same lines. If the 95% parts commonality does come, then delaying the prior end-of-year 2026 start of production to release both simultaneously could be the bold move they need.

Or maybe even release the Gravity X to get a quick boost in sales, given how well-received the concept was. Super short term, I'd say releasing the Gravity X could unlock more sales

 

[tarator]

Efficiency in an EV is almost meaningless at the price level they're currently competing in. People who can spend 100k on a car from a brand-new brand will have a home with a garage or private driveway they can charge at. And buyers at that price have never really cared that much about efficiency.

While efficiency doesn't matter much for day-to-day driving, it matters a lot for long trips. The main reason I leased a Lucid Air is its range.

 

[socktucker]

While efficiency doesn't matter much for day-to-day driving, it matters a lot for long trips. The main reason I leased a Lucid Air is its range.

If I have to drive more than 400 miles, I’m flying!

 

[tarator]

If I have to drive more than 400 miles, I’m flying!

My cat's don't like flying.

 

[Need4Sleep]

Efficiency in an EV is almost meaningless at the price level they're currently competing in. People who can spend 100k on a car from a brand-new brand will have a home with a garage or private driveway they can charge at. And buyers at that price have never really cared that much about efficiency.

Once again, if I were an investor, I'd want one of these executives to answer for their product timeline decisions. A fastback/coupe SUV should come after the more traditional SUV, if it even gets made at all. The Model Y could get away with the teardrop shape because it was the only midsize EV for a long time. Even the EVs released 5 or so years ago like the Mach-E, EV6, and Ioniq 5 weren't exactly traditionally shaped SUVs. Now with battery advances, we're seeing them with the iX3, EX60, and R2.

The two former vehicles have so many pre-orders in Europe alone that their factories have been running extra shifts. People who see the EX60 say they want the Cross Country variant even though it mostly has more black body cladding so it looks more "outdoorsy." The R2 has people like Doug Demuro saying that it is the EV he would buy. As annoying as some people might find him, I'd bet he knows more about the US car market than most people. On his podcast, he literally says that the Cosmos is another minivan that looks like a "weeny car" and it won't sell. This is backed up by the only influencer (Kyle from Out of Spec) that has seen and sat in the Cosmos says the R2 has more headroom in the rear seat. And his co-host on that episode found the exterior design interesting at best.

Selfishly, I want a more traditionally shaped SUV, with an 800v architecture if possible. Unselfishly, the market share of the fastback SUV is just multiple times smaller than the traditional one. Why would a company willingly target a smaller market? The US market has spoken. People here love things big and bold and brash. One of the worst on-road vehicles ever, the Jeep Wrangler, sells over 150k in the US alone mostly because it looks cool and rugged. The big three pickups (Plus Toyotas) get bigger and bigger with every generation.

If Lucid wants to zag, that's fine, but they might find out they're running into a brick wall with that more efficient shape.

I disagree, efficiency in an EV is even more meaningful in that price bracket because efficiency will dictate the size of the battery, and that will be one of the biggest (if not the biggest) factor that will dictate the price.

The more efficient you can get an EV, the smaller the battery size, and the lower the overall price point you can hit

 

[gaskiller]

I disagree, efficiency in an EV is even more meaningful in that price bracket because efficiency will dictate the size of the battery, and that will be one of the biggest (if not the biggest) factor that will dictate the price.

The more efficient you can get an EV, the smaller the battery size, and the lower the overall price point you can hit

Agree, handling also improves, multitude of benefits

 

[gaskiller]

That will be my last penny to Lucid unfortunately.

That’s a great plan, not wanting to upgrade out of spite. You are the one losing out…..so you want to drive around in your 100k outdated car? If so, be my guest.

 

[BS8899]

I did not attend Lucid's call today and I have not read transcripts of the today's call. I am asking a clarification question.

In February, Lucid' s communique was, the seat-buckle manufacturer's unauthorized change of their process resulted in a stall in Gravity manufacturing and delivery. Furthermore, Lucid had to recall/rework many Gravity vehicles, hence, Q1'26 delivery was below expectations. At that time, Lucid stated they were NOT changing yearly Gravity shipment targets, implying Gravity demands remain strong as forecasted.

Is the above statement STILL SUBSTANTIALLY QUANTITATIVELY TRUE in light of today's numbers and forward-looking shipments? If not, what changed? The economy? The forecast? Competition? The February statements were simply wrong?

 

[gaskiller]

I did not attend Lucid's call today and I have not read transcripts of the today's call. I am asking a clarification question.

In February, Lucid' s communique was, the seat-buckle manufacturer's unauthorized change of their process resulted in a stall in Gravity manufacturing and delivery. Furthermore, Lucid had to recall/rework many Gravity vehicles, hence, Q1'26 delivery was below expectations. At that time, Lucid stated they were NOT changing yearly Gravity shipment targets, implying Gravity demands remain strong as forecasted.

Is the above statement STILL SUBSTANTIALLY QUANTITATIVELY TRUE in light of today's numbers and forward-looking shipments? If not, what changed? The economy? The forecast? Competition? The February statements were simply wrong?

Exactly, they just reiterated production a few days ago. Maybe Silvio is wanting to look at production vs demand. If they can equate, cash burn would reduce.

They have $1.4 billion in inventory. That is 14k vehicles if average price is 100k. And their annual production is 25-27k? I’m not a businessman and can still see how stupid this is.

Clearly shows the past leadership was clueless about financial prudence.

I’m more convinced now that Silvio is the man! Lucid doesn’t need a founder/engineer/hype CEO.

They need someone who can whip them into cost containment.

 

[tarator]

Clearly shows the past leadership was clueless about financial prudence.

I’m more convinced now that Silvio is the man! Lucid doesn’t need a founder/engineer/hype CEO.

They need someone who can whip them into cost containment.

And by past leadership you mean the guy that is going back to his COO job, right?

 

[gaskiller]

They have 1.4 billion in inventory, company worth 2 billion? Stock is a steal!

 

[gaskiller]

And by past leadership you mean the guy that is going back to his COO job, right?

COO implements, CEO directs. Duh

 

[illopp00]

I disagree, efficiency in an EV is even more meaningful in that price bracket because efficiency will dictate the size of the battery, and that will be one of the biggest (if not the biggest) factor that will dictate the price.

The more efficient you can get an EV, the smaller the battery size, and the lower the overall price point you can hit

This is also true, which is still why I think they might as well release both and let the market demand work it out. Without a doubt, the brick shaped SUV will be more expensive AND have less range.