Open Letter to Peter and Team - a rant

[AZLucidGuy]

Yes, I understand the risks, and am currently sitting on a large (for me at least) unrealized loss with hope that things will recover. I still believe in Lucid in the long term.

I am also sitting on a large unrealized loss for $LCID. But I will not sell and will not "realize" that loss. I also sit in the drivers seat of a Lucid Air GT every day. The car has been the most reliable I have ever purchased. Now 10,600 mile in and not a single trip to the shop since the day I took delivery. Software is vastly improved since I took delivery in May 2022. I have a lot of confidence going forward. Actually, still adding shares to average down.

Lucid, like all publicly traded companies, needs to be careful with public statements. Elon is famous for over promising and under delivering on "robo taxis", the new roadster, full self driving and the humanoid robot. I am a $TSLA shareholder and also own a Tesla Model 3 which is a great car as well.
My long view is that $LCID will really see upside when the midsized sub $50K platform is taking deposits and/or when Lucid announces partnerships to license Lucid tech (drivetrain, battery management, Wunderbox etc. to other car makers). Gravity will be nice, but I fear that Lucid will price it too high. I would like it to compete with Mercedes and BMW SUVs, but I fear that they are targeting the Lambo Urus instead which is a tiny market. Hopefully, Gravity will be available in trims from $75K to $300K to cover the gamut.

I have my big boy pants on. I accept the risk of my investment in $LCID and my purchase of a first edition EV from a startup company.

Time will tell.

 

[Cosmo Cruz]

I am also sitting in a large realized gain by speculating on LCID.

I call it my Air GT.



I chickened-out and sold half my stake when it was in the 50's. It was only a year ago. Did you people hold ? How ?

 

[AIR.LUCID]

2nd cut was when they realized the executives they hired weren't doing there job. Notice the ramp up after those 5 or 6 were kicked out. Agree, CEO should have paid more attention, he was too confident. Didn't lie. He is much more honest than Ego Musk aka cybertruck, roadster, boring tunnel, neurolink, robotaxis- lie, ie, lie

I still think that Peter was asking for trouble when he claimed his best-case production numbers of 20K for the first year.

 

[noobzilla]

I am also sitting in a large realized gain by speculating on LCID.

I call it my Air GT.



I chickened-out and sold half my stake when it was in the 50's. It was only a year ago. Did you people hold ? How ?

Good job exiting at 50's !

 

[quantum]

I suppose it depends how you define a "Lucid owner", I am technically an owner as I own the stock. The site is not specific enough to be "lucidvehicleowners.com".
I do though agree with you to some extent, but as this is the investor's section of the website I do not believe restrictions should apply to non-vehicle owners, but can see that it would be sensible to restrict some sections to vehicle owners.
I have made my position clear too, I am trying to deceive anyone by claiming to own the vehicle.



Yes, there were a lot of supply chain issues beginning in 2020, but remember that the guidance from Lucid was provided in 2021 around the height of those issues. If Lucid were not aware of the issues when providing their guidance then that just raises questions about the competency of the people involved. As I said, we accept some things were out of their control and can understand a cut in production due to those issues, that explains the first cut down to 12k-14k, but what about the second cut? The supply chain issues have not been mentioned as an ongoing problem, so is it fair to assume this is an issue still? It may well be, but without Lucid confirming this then it is just speculation. The other aspect is that other manufacturers do not seem to have had anywhere near the same problems, I am not aware of another vehicle manufacturer that has had to cut guidance for this year by 65%, even other start ups (that have the capital to enter production without further funding). I am happy to be corrected though if there are any.



And this is the point, "probably" (my added emphasis in your quote) is just a guess and does not explain the issues. It is fine if there are issues with logistics, but tell your investors, make them aware that you are aware of any issues and are working to resolve them. I am able to guess at the issues myself, and have recently been stating that it is likely logistics issues that are causing the backlog, but as an investor I would like Lucid to acknowledge issues rather than pretend investors do not care.

Dont worry, they will fix everything, patience is a virtue for an investor

 

[HariK]

I am also sitting on a large unrealized loss for $LCID. But I will not sell and will not "realize" that loss. I also sit in the drivers seat of a Lucid Air GT every day. The car has been the most reliable I have ever purchased. Now 10,600 mile in and not a single trip to the shop since the day I took delivery. Software is vastly improved since I took delivery in May 2022. I have a lot of confidence going forward. Actually, still adding shares to average down.

Lucid, like all publicly traded companies, needs to be careful with public statements. Elon is famous for over promising and under delivering on "robo taxis", the new roadster, full self driving and the humanoid robot. I am a $TSLA shareholder and also own a Tesla Model 3 which is a great car as well.
My long view is that $LCID will really see upside when the midsized sub $50K platform is taking deposits and/or when Lucid announces partnerships to license Lucid tech (drivetrain, battery management, Wunderbox etc. to other car makers). Gravity will be nice, but I fear that Lucid will price it too high. I would like it to compete with Mercedes and BMW SUVs, but I fear that they are targeting the Lambo Urus instead which is a tiny market. Hopefully, Gravity will be available in trims from $75K to $300K to cover the gamut.

I have my big boy pants on. I accept the risk of my investment in $LCID and my purchase of a first edition EV from a startup company.

Time will tell.

Spot on with what I think.

 

[noobzilla]

I need to check when and how much stock offering Lucid has sold. Theyre burning cash fast but I think moving forward their production has picked up the pace. Don't forget about EU deliveries soon too.

 

[HariK]

I need to check when and how much stock offering Lucid has sold. Theyre burning cash fast but I think moving forward their production has picked up the pace. Don't forget about EU deliveries soon too.

Well. Here is an optimistic way to look at it. In 22 they are shipping 7k units. By 25 if they can ship 140k units, 20X from now, we will all do well if stock price goes up 10x to 90 perhaps. I will root for that.

 

[quantum]

Well. Here is an optimistic way to look at it. In 22 they are shipping 7k units. By 25 if they can ship 140k units, 20X from now, we will all do well if stock price goes up 10x to 90 perhaps. I will root for that.

With 140k units per annum, earning will be at least 14 billion at 100k per vehicle. Tesla earnings around 21 billion in 2022. Tesla valued at 500 billion, you can reasonably expect Lucid to be valued at 300 billion. This would give a stock price if 200 roughly

That’s why I’m loading up, ignore all the TSLA investors going around bitching about lucid, including Ego Musk

 

[HariK]

With 140k units per annum, earning will be at least 14 billion at 100k per vehicle. Tesla earnings around 21 billion in 2022. Tesla valued at 500 billion, you can reasonably expect Lucid to be valued at 300 billion. This would give a stock price if 200 roughly

That’s why I’m loading up, ignore all the TSLA investors going around bitching about lucid, including Ego Musk

However average price has to fall to 80k or so to hit the volumes. We badly need a model y killer to get there.

 

[Grnr92663]

If Lucid can license their motor/inverter/tech, then they don't need to build as many cars. Licensing tech will be a lot more lucrative & higher margin (and reduce all the complexity of sale & retails).

My neighbor just took his 2022 Audi e-tron (really nice, black version S) from OC to San Diego. On the way back, the car ran out of juice just few miles from his house and required a tow truck to get it to EA station. Less than 190 miles total for the trip and he's so mad right now. He paid $115K for the car !!!

 

[quantum]

If Lucid can license their motor/inverter/tech, then they don't need to build as many cars. Licensing tech will be a lot more lucrative & higher margin (and reduce all the complexity of sale & retails).

My neighbor just took his 2022 Audi e-tron (really nice, black version S) from OC to San Diego. On the way back, the car ran out of juice just few miles from his house and required a tow truck to get it to EA station. Less than 190 miles total for the trip and he's so mad right now. He paid $115K for the car !!!

Too bad he didn’t buy a Lucid

 

[quantum]

However average price has to fall to 80k or so to hit the volumes. We badly need a model y killer to get there.

With the Gravity and international sales, shouldn’t be difficult if you have best EV

 

[Volund]

I don’t think Lucid is obligated to comment on Bears Workshop flyover videos.


Wow, Ford is really misleading their investors!

I had to wait 6 months for my Samsung fridge, and then they sent the wrong one and I had to wait another three months!

After owning nothing but Samsung appliances, and having them systematically fail on me over the course of 5 years, I now refuse to buy anything Samsung, for now... I'm an LG believer.

 

[HariK]

After owning nothing but Samsung appliances, and having them systematically fail on me over the course of 5 years, I now refuse to buy anything Samsung, for now... I'm an LG believer.

I too had a failed LG dishwasher, Samsung dishwasher. My Samsung $2k 3 compartment fridge was not controlling the temp of the mid compartment. It was beeping and stuck at 33F which I use for cheese and drinks. They gave me 50% compensation because they did not even have the parts to fix it in the warranty period. Did you notice the similarities in the design and features of LG and Samsung? I think they seem to have the same company designing for them or the same supplier. My 20year old cheap Garage fridge also 25cft Roper/Whirlpool made in the USA is still working fine including the ice maker. My buddies also reported failure in a similar LG fridge which was fixed once during the warranty period and failed again. My Samsung Microwave died too. I bought Bestbuy Insignia and it has been just fine.

 

[Bunnylebowski]

After owning nothing but Samsung appliances, and having them systematically fail on me over the course of 5 years, I now refuse to buy anything Samsung, for now... I'm an LG believer.

Ah then you know the living hell that is the act of trying to seek service from Samsung. They’re one of the 5 largest corporations in Korea but I’m convinced no one there knows anything about their own products or what to do with them once they’ve been sold. I split the difference, fridge is Samsung, washer and dryer LG, living room TV is Samsung (I regret that one, any dark scene is utterly unwatchable), upstairs TV is Sony XBR900H which is the best TV I’ve ever owned (does Dolby Vision, HDMI 2.1, ALLM and VRR) upstairs Dolby Atmos system is the Samsung 9 channel soundbar/woofers/speakers which is actually fantastic quality for the money, better than Sonos and half the price.

 

[Volund]

Ah then you know the living hell that is the act of trying to seek service from Samsung. They’re one of the 5 largest corporations in Korea but I’m convinced no one there knows anything about their own products or what to do with them once they’ve been sold. I split the difference, fridge is Samsung, washer and dryer LG, living room TV is Samsung (I regret that one, any dark scene is utterly unwatchable), upstairs TV is Sony XBR900H which is the best TV I’ve ever owned (does Dolby Vision, HDMI 2.1, ALLM and VRR) upstairs Dolby Atmos system is the Samsung 9 channel soundbar/woofers/speakers which is actually fantastic quality for the money, better than Sonos and half the price.

I went with LG washer and dryer, LG C2 for my TV
Fridge is Whirlpool which has been flawless so far but it's old
And @HariK may have a point with similarities. But ever since LG dropped out of the phone gang, I think their appliances have gone up a notch.
So definitely newer LG stuff is better I think

 

[HariK]

I have Vizio M and P series TVs in my house. The picture quality of Sony is the best because of their excellent video processor. Samsung is close followed by LG and Vizio. I worked in that field for many years BTW. The mid range Sony and Samsung or barely average. On a scale of 1 to 10 in picture quality, OLED is probably a 10 but it has a screen burn issue. Among QLEDs Sony is probably a 9 followed by Samsung 8+, LG and Vizio 7+ if you compare equivalent models but Vizio is best bang for the buck and I have 2 x 65, 1 x 55, 2 X 48 Vizio. One in each of the 4 bedrooms, 1 in the family room and 1 in the back Patio. I have 2 x 7.1 Onkyo/Polk systems but in the smaller rooms I am getting Vizio M series 5.1 sound bars.

 

[HariK]

Oops! How did we get from an open letter to Peter to consumer electronics and appliances?

 

[joec]

Oops! How did we get from an open letter to Peter to consumer electronics and appliances?

I don’t know, but many of us are fine with it.