Wasn’t/Isn’t that Tesla’s very successful business model?
And Tesla didn't Saudi oil money behind them.
I’m with B as well. It’s going to be a bit of a bumpy road but hopefully they succeed. Everyone was praising Rivian and saying Lucid? Who’s Lucid. At this point in time Rivian has taken a serious beating compared to Lucid.
I have a Rivian on order and am also an IPO holder. As much as it pains me, Rivian is getting exactly what is deserves. My delivery went from February of 2022 pre IPO to sometime in 2023 after the IPO. The delivery windows were total fraud to pump the stock price.
I think lucid will probably survive as long as they are able to ramp up production and are at about an 18,000-20,000 annual run rate by end of year. As a shareholder the 62% Saudi Govt stake is both a benefit and concern. They want to keep Lucid going and will pump money in if needed. On the other side, a lot of what they might do would lead to shareholder dilution, they have majority control so may force decisions that might not be in best interest of American investors (a new plant in Saudi…what sort of auto supply chain exists there), and could just decide to take the company private on a whim.
To be fair Tesla’s predictions of future production volumes turned out to be eerily accurate 5 or 6+ years out (they were ridiculed at the time they made them as impossible). It’s just everything else (model release dates, Robotaxis, now robots) that was not accurate
I don’t remember Tesla delivering on any promises. There was always some production excuse. But that’s my memory. I could be wrong
Lucid has a remarkable management team. They created and are now producing a remarkable product. They have a very strong financing partner who is not only supporting with present day funding but also with a huge contract to purchase at least 50,000 cars with an option of going to 100.000 cars, all at fair market value. Lucid will not go away simply due to first year production problems and learning how to manage people and realizing that it is this people who will push you over your production goals. Plus, they are aggressively building their expansion facility at the Casa Grande location and have another aggressive schedule to built a huge plant in Saudi Arabia. While their stock now is hitting all time lows, much of that is due to people running away from the tech sector and large growth sector because it smells like a recession is coming. Actually, I believe the numbers will eventually show sometime in the future that we are actually now in the starting phase of the recession. Gas and food prices are killing those who are living check to check. Times have become very, very tough for much of our population.
In 2015 when they were producing maybe 25,000 model S per year and had just started building the Model X they said they would be at 500,000 per year in 2020. They were absolutely ridiculed in Wall Street and the legacy auto companies just ignored them. The ended up delivering 499,550. From that point they guided average 50% growth per year which at least for last year and this year they will easily exceed. They really lagged on getting the Model 3 underway (the “production hell” that Lucid said they would avoid) but on the other hand they surprisingly started Model Y production months early. All of the robotaxi “next year” stuff has become a running joke.
Yes, there are consequences to misleading the public with inforamtion that is known or should have been known to be misleading. It is never a good idea to get in the cross haris of the SEC and the consequences can be severe, including inability to ever have a leadership role at a public company.
Haha their opinion only counts if it’s a negative post on a Reddit thread. What were you needing a service visit for?
“He” is likely a bought fb account for $10 whose credentials were stolen. I would bet hundreds of dollars this is a short seller. Maybe I’m wrong, but it is trivial to do this sort of thing.
It appears the Reddit account has been deleted? Maybe it’s a real employee who realized he just signed his own termination.
