Lucid future and possible consequences

[thecodingart]

Give it some time. There are many tech layoffs right now (Amazon, Meta, Twitter, Twilio, Microsoft, Yahoo, GotHub, Zoom, Dell, PayPal, IBM, Google, Salesforce, etc.)

These are real people with families losing jobs. Right now, I'm hoping they all land on their feet. Focus on them, not yourself.

I mean, we had 2-3 rounds of large layoffs at Ford and there were multiple reports about our "financial" situation. Each round was for proper internal restructuring and was critical to our success. Frankly, they were ALL good and WILL make our initiatives successful. Media is media, speculation is speculation. Ford is not going anywhere and Lucid backed by Saudi is 100% fine financially. I challenge someone to compare numbers between on-staff employees pre/post layoffs with other EV startups or companies over their timelines...

Tesla: Number of Employees 2010-2023 | TSLA

Interactive chart of Tesla (TSLA) annual worldwide employee count from 2010 to 2023. <ul style='margin-top:10px;'> <li>Tesla total number of employees in 2022 was <strong>127,855</strong>, a <strong>28.77% increase</strong> from 2021.</li> <li>Tesla total number of employees in...

www.macrotrends.net

In 2012 Tesla was < 3,000 employees TOTAL.

Lucid is sitting at > 7,000 employees TOTAL

Lucid: Number of Employees 2020-2024 | LCID

Interactive chart of Lucid (LCID) annual worldwide employee count from 2020 to 2024. <ul style='margin-top:10px;'> <li>Lucid total number of employees in 2023 was <strong>6,500</strong>, a <strong>9.72% decline</strong> from 2022.</li> <li>Lucid total number of employees in 2022...

www.macrotrends.net

 

[Drendino]

A few weeks ago I canceled my reservation for a Rivian Launch Edition R1S that I made in February 2019. After waiting four years and still not hearing from my "Rivian Guide" more than a year after I was told I would, I just gave up.

I'm not sure what you mean by "over delivering" on their goals . . . unless delivering vehicles was not one of their goals.

I agree, they are far from over delivering. No car company continues to miss their own delivery estimates anywhere near Rivian with the R1S.

 

[SaaSManKS]

A few weeks ago I canceled my reservation for a Rivian Launch Edition R1S that I made in February 2019. After waiting four years and still not hearing from my "Rivian Guide" more than a year after I was told I would, I just gave up.

I'm not sure what you mean by "over delivering" on their goals . . . unless delivering vehicles was not one of their goals.

Rivian changed their delivery queue and are prioritizing purchases not by rsvp date.

 

[SaaSManKS]

I mean, we had 2-3 rounds of large layoffs at Ford and there were multiple reports about our "financial" situation. Each round was for proper internal restructuring and was critical to our success. Frankly, they were ALL good and WILL make our initiatives successful. Media is media, speculation is speculation. Ford is not going anywhere and Lucid backed by Saudi is 100% fine financially. I challenge someone to compare numbers between on-staff employees pre/post layoffs with other EV startups or companies over their timelines...

Tesla: Number of Employees 2010-2023 | TSLA

Interactive chart of Tesla (TSLA) annual worldwide employee count from 2010 to 2023. <ul style='margin-top:10px;'> <li>Tesla total number of employees in 2022 was <strong>127,855</strong>, a <strong>28.77% increase</strong> from 2021.</li> <li>Tesla total number of employees in...

www.macrotrends.net

In 2012 Tesla was < 3,000 employees TOTAL.

Lucid is sitting at > 7,000 employees TOTAL

Lucid: Number of Employees 2020-2024 | LCID

Interactive chart of Lucid (LCID) annual worldwide employee count from 2020 to 2024. <ul style='margin-top:10px;'> <li>Lucid total number of employees in 2023 was <strong>6,500</strong>, a <strong>9.72% decline</strong> from 2022.</li> <li>Lucid total number of employees in 2022...

www.macrotrends.net

Completely agree, but ford sells millions of cars a year…I’m purely asking about why they can’t put them on the road.

 

[Drendino]

Rivian changed their delivery queue and are prioritizing purchases not by rsvp date.

Are you a R1S reservation holder?

 

[thecodingart]

Completely agree, but ford sells millions of cars a year…I’m purely asking about why they can’t put them on the road.

First off, we've split our divisions and financial reports. Our EVs are funded differently and if you check our total sales, we hands down have bottlenecks in sales and are no-where-near 1 million. Tesla is the ONLY EV manufacture selling at that volume atm.

WIth that being said, take a look at the delivery problems Tesla had in 2012/2013. They could not get cars off the lot into people's hands and had to have sales people and other random employees drive the cars themselves to get them into customer's hands. It's not an easy problem to solve and can happen at the production or delivery level. Having the vehicles produced does not equate to "can't you just deliver them".

 

[Steveinarizona]

Honestly, I don’t understand the reaction and think you pose a fair question that deserves an answer.

I am going to go ahead with my Rivian purchase. In my opinion, Rivian is in a far more precarious position and has lost almost all of their major backers. Lucid has the backing of the PIF and there is very little evidence that they will walk away. In fact, their recent reinvestment demonstrates the opposite. Lucid’s technology and infrastructure is way too advanced to just disappear. Very worst case scenario, some company would purchase them. I would not let some layoffs influence your decision to buy a car. Every car manufacturer is doing it, so there would be nothing to buy if this was your criteria.

Hope that helps.

I think Rivian is better positioned because it has commercial sales to folks like Amazon. If, and it is a big if, Lucid were to go under, it is likely that someone would pick up the pieces. When Saab died, some GM dealers picked up the servicing. Lucid's technology is so strong that I can't imagine that other companies wouldn't be lining up to pick up the pieces.

 

[Lucken]

Honestly, I don’t understand the reaction and think you pose a fair question that deserves an answer.

In all honesty, unfortunately, I wasn’t surprised.

And yes, the rest of your post was helpful, so thanks for that.

 

[SaaSManKS]

First off, we've split our divisions and financial reports. Our EVs are funded differently and if you check our total sales, we hands down have bottlenecks in sales and are no-where-near 1 million. Tesla is the ONLY EV manufacture selling at that volume atm.

WIth that being said, take a look at the delivery problems Tesla had in 2012/2013. They could not get cars off the lot into people's hands and had to have sales people and other random employees drive the cars themselves to get them into customer's hands. It's not an easy problem to solve and can happen at the production or delivery level. Having the vehicles produced does not equate to "can't you just deliver them".

Idk why things are so aggressive on here, I was trying to ask a simple question about output. My point with ford and rivian was only that they too have suppliers who are trying to work with and lucids output was less than half of rivian’s when they only had what a 3 month variable in start date of mfg? I’m well aware that ford split their EV entity off, I dont have any desire to get into some heated debate about the “why” people are talking about this, I was just looking to have a constructive convo about why people think LI I’d can’t sell cars…can someone point me to the lucid online forum?! I heard they have really nice people there!

 

[thecodingart]

Idk why things are so aggressive on here, I was trying to ask a simple question about output. My point with ford and rivian was only that they too have suppliers who are trying to work with and lucids output was less than half of rivian’s when they only had what a 3 month variable in start date of mfg? I’m well aware that ford split their EV entity off, I dont have any desire to get into some heated debate about the “why” people are talking about this, I was just looking to have a constructive convo about why people think LI I’d can’t sell cars…can someone point me to the lucid online forum?! I heard they have really nice people there!

Apologizes, the prefix of first off was an aggressive response unintentionally. Ultimately, meant to address some of the delivery or "getting" on road questions you were asking. It's not an uncommon issue a certain level of maturity has happened in a care company.

More or less pointing out this isn't an issue to be concerned with and isn't worth speculating as a major issue a this point in time. If they still haven't solved this issue 3 years in.. there's a problem.

 

[hmp10]

Rivian changed their delivery queue and are prioritizing purchases not by rsvp date.

Four years to hold a deposit through repeated delays is not “over delivering”, no matter what THEIR changing priorities are.

 

[thecodingart]

Four years to hold a deposit through repeated delays is not “over delivering”, no matter what THEIR changing priorities are.

A lot of this is just public relations and marketing. Again, it's the narrative of the media and the loudest public figures.

 

[ProdigalTrader]

This thread is simply absurd. Lucid is not going anywhere, quite apart from Saudi involvement.

Why do I say this with utter certainty?

They are picking up Dept of Defense contracts, one to electrify US Mil vehicles with standardized battery technology, and the second to develop an HV battery system for defense platforms that are stationary.

Bet against many things, but never bet against the ever growing, undying nature of defense contracts.

 

[Tesla2.0]

Four years to hold a deposit through repeated delays is not “over delivering”, no matter what THEIR changing priorities are.

4 years of waiting for reservation. At least you had opportunity waited…
9 months repeated trying to reserve Hummer EV on their website email request but got stonewalled. GM was basically telling me “go buy a Tesla or Rivian, no soup for you!”

 

[joec]

Yes, but for the (28,000?) people who have reserved and not closed, this is an open business transaction that begs for due diligence. Of course the future is unknowable, but the wise person gathers the most info available and decides if the reward is worth the risk.

Im in that camp and trying to assess whether the layoff of 18% of the workforce suggests a much greater risk to me than buggy software or even a turtle breakdown. If I already owned the car I’d of course take your advice and just enjoy the car.

And btw your “no facts” hypothesis is a little off. There are lots of facts—-big layoff, declining order book, admitted lack of cash by YE, no SUV for at least a year, nasty interest rates, more EV competition…..you get it…

Well, I'm sure many here would be sad to see you go. But you have to decide for yourself and do what's best for you and your family.

 

[Lucken]

This thread is simply absurd. Lucid is not going anywhere, quite apart from Saudi involvement.

Why do I say this with utter certainty?

They are picking up Dept of Defense contracts, one to electrify US Mil vehicles with standardized battery technology, and the second to develop an HV battery system for defense platforms that are stationary.

Bet against many things, but never bet against the ever growing, undying nature of defense contracts.

But let's be honest, that part of the business could easily be spun off from Lucid Motors.

 

[Lucken]

Honestly, I'm sort of sick of reading this crap. It's far over exaggerative and doesn't put anything into proper perspective. Many here have echo'ed out the financial headway Lucid actually has. As owners, most of us aren't worried/concerned. Potential owners are freaking themselves out having not owned the product and they're scaring away new customers. F*cking cut this sh*t out. You guys make me anxious and I KNOW everything is fine.

If you want to talk about this stuff, feel free to actually breakdown the financials and cashburn rates. Do NOT just post doom and gloom speculations.

Well this should help promote a free & open conversation with out fear of reprisals.

 

[ProdigalTrader]

But let's be honest, that part of the business could easily be spun off from Lucid Motors.

The premise of the thread is that LCID would cease to exist as an ongoing concern, orphaning owners. Spin off or not, it ain’t gonna happen.

 

[Lucken]

The premise of the thread is that LCID would cease to exist as an ongoing concern, orphaning owners. Spin off or not, it ain’t gonna happen.

What I meant is that the defense contracts could be spun off into a separate entity with Lucid Motors no longer around. Do I think that would happen? Hopefully not. The bottom line is nobody can say with any degree of certainty what will happen. We all manage risk in our own way. However the belittling tone of some posts (not yours) does nothing to further the conversation.

I stand pat with my reservation with at least 6 months to go. That time should help clarify things to some degree.

 

[Bobby]

I think we have heard enough from both sides of this argument.