Peter Rawlinson on rising costs (no hikes for existing reservations)

[copper]

Some very good info: https://www.reuters.com/business/au...onor-prices-existing-reservations-2022-03-17/

Key takeaways:

"There's an inevitability that we will have to look at the price points of models that are coming out in the future," CEO Peter Rawlinson told Reuters, citing soaring nickel prices after Russia invaded Ukraine.
"What we want to do is to honor and keep our commitments to existing reservation holders. I think that's what was ill received in the market with Rivian."

This probably will apply to new reservations for the Touring and Pure, along with the Gravity.

Rawlinson on Thursday said the bottlenecks were caused by a handful of suppliers for windshield glass, carpeting and some exterior trim parts.
"I'm super frustrated because we're not gated by silicon chips, we're not gated by our ability to make electric motors," Rawlinson said.
Switching to different suppliers for those parts would compromise quality, he said.

It looks like some of the more esoteric parts didn't come from suppliers where (a) Lucid had sufficient volume to dictate production priorities or (b) were smaller volume makers who couldn't handle QC at the committed contract levels.

Rawlinson also said Lucid has started on a prototype of in-house battery cell production, adding that it also has partnerships with battery suppliers Samsung SDI (006400.KS) and LG Energy Solutions.

This is very interesting. Any EV company now has to consider batteries a core competency in order to protect their supply chain and gain a market advantage. This may create drift in cell standards across the market as carmakers seek to lock-in the single most important volume component of their powertrain.

 

[MorganB]

Some very good info: https://www.reuters.com/business/au...onor-prices-existing-reservations-2022-03-17/

Key takeaways:


This probably will apply to new reservations for the Touring and Pure, along with the Gravity.

This is exactly why I went ahead and reserved my pure. I think the price point of the pure is excellent and if you look at a Model S you have a lot more value in the Pure in my opinion. I wanted to lock in that price and maintain the option to order. The more I look at cars the more convinced I am that Lucid will be a good choice for me.

 

[copper]

This is exactly why I went ahead and reserved my pure. I think the price point of the pure is excellent and if you look at a Model S you have a lot more value in the Pure in my opinion. I wanted to lock in that price and maintain the option to order. The more I look at cars the more convinced I am that Lucid will be a good choice for me.

Good call. I think the Pure will be a stellar value and Lucid’s volume seller until the Gravity is out.

 

[mnewber1]

I wonder if it's reservation holders or confirmation holders..

 

[copper]

I wonder if it's reservation holders or confirmation holders..

Quoted from Peter:

"What we want to do is to honor and keep our commitments to existing reservation holders. I think that's what was ill received in the market with Rivian."

Looks like reservations, not confirmations.

 

[mnewber1]

Looks like reservations, not confirmations.

That's reassuring, $9,000 for Dream Drive Pro that has no videos proving its existence is already high enough. I had a hard time convincing myself $10,000 (now $12,000) was worth it.

 

[MorganB]

I hope it’s reservation holders also. Time will tell. If they do a price hike before they confirm a single Pure then it would be a vapor ware entry price point which might not be good for PR.

 

[copper]

I hope it’s reservation holders also. Time will tell. If they do a price hike before they confirm a single Pure then it would be a vapor ware entry price point which might not be good for PR.

He says its for reservation holders. I'd be shocked if they went back on that. I also think the price increase will be very soon.

 

[MorganB]

That's reassuring, $9,000 for Dream Drive Pro that has no videos proving its existence is already high enough. I had a hard time convincing myself $10,000 (now $12,000) was worth it.

Has the price of Dream Drive Pro gone up? On March 10th a sales advisor quoted me 9k for the DDP upgrade on the Pure.

 

[CLTGT]

I would put a second deposit down for a Pure for my wife if they made a blue car. She loved our test drive and made comments that led me to believe she might like to replace her SUV with one. Her gripe is the colors are boring. Now, with grey taking so long and problems with silver, I’m not sure LucI’d could handle adding blue to the mix. Surprisingly, she does not like the red. That shocked me a bit, but she was able to see it at Torrance. Normally, red is her favorite color.

 

[CraZ8]

I would put a second deposit down for a Pure for my wife if they made a blue car. She loved our test drive and made comments that led me to believe she might like to replace her SUV with one. Her gripe is the colors are boring. Now, with grey taking so long and problems with silver, I’m not sure LucI’d could handle adding blue to the mix. Surprisingly, she does not like the red. That shocked me a bit, but she was able to see it at Torrance. Normally, red is her favorite color.

You know for about 5k you can wrap a pure in any shade of blue you want. The films are so good now they look like factory paint. They should last 4 plus years. Yes door jams And inside trunk lids will still be factory color but if you go with grey as the base color the difference won’t be too jarring.

 

[DBV]

If you reserve a Pure, can you change it to the Touring, since we really don’t know exact options/costs on AWD and some other features? Lucid ordering system should be more advanced. Not that hard. Seems weird too, that it is $1k down for a Touring, but only $300 for a pure. Be like Tesla and one number for all. Stupid.

 

[MorganB]

If you reserve a Pure, can you change it to the Touring, since we really don’t know exact options/costs on AWD and some other features? Lucid ordering system should be more advanced. Not that hard. Seems weird too, that it is $1k down for a Touring, but only $300 for a pure. Be like Tesla and one number for all. Stupid.

If you log in and view your reservation there is an upgrade option. Lucid will give you the info for the costs of the packages if you reach out. Here is what the sales team sent me:

Surreal Sound Audio System = $2,900

Glass Canopy Roof Option for Touring ONLY = $4,000

AWD for Pure Trim = $5,000

Dream Drive Pro (Level 3 Autonomous Driving) = $9,000

 

[DBV]

If you log in and view your reservation there is an upgrade option. Lucid will give you the info for the costs of the packages if you reach out. Here is what the sales team sent me:

Surreal Sound Audio System = $2,900

Glass Canopy Roof Option for Touring ONLY = $4,000

AWD for Pure Trim = $5,000

Dream Drive Pro (Level 3 Autonomous Driving) = $9,000

Thanks - that is helpful. I never heard back from their sales team when I asked them. I also want to make sure range stays over 400 by adding AWD, but guessing no way to know yet?

 

[MorganB]

Thanks - that is helpful. I never heard back from their sales team when I asked them. I also want to make sure range stays over 400 by adding AWD, but guessing no way to know yet?

That is a big question for me as well as I plan to add AWD to the Pure config. I hope that the range of the Pure remains above 400 by adding AWD. Otherwise I may rethink the Pure. Generally with two motors as they both consume energy the range goes down but in that case you would think the Touring would have LESS range than the Pure if they both have the same battery. Or perhaps Lucid is doing something different? A larger battery with AWD but one that still leaves the footwell space? I've only seen Lucid talk about two different battery packs though.

You would also think that the HP would increase in AWD as it is being driven by two motors and bring the Pure HP in line with the Touring?

All speculation. I think this is a question that will be answered later this year once they start to get closer to production of the pure. I did ask sales but I got the following non answer:

"the Lucid air Pure does come with a Single Motor, Rear-Wheel Drive with an option to upgrade to Dual Motor, All Wheel Drive. Both the Touring and Pure have a projected range of 406 miles. While the Pure has 480 horsepower, the Touring has 620 horsepower."

 

[Steveinarizona]

I would put a second deposit down for a Pure for my wife if they made a blue car. She loved our test drive and made comments that led me to believe she might like to replace her SUV with one. Her gripe is the colors are boring. Now, with grey taking so long and problems with silver, I’m not sure LucI’d could handle adding blue to the mix. Surprisingly, she does not like the red. That shocked me a bit, but she was able to see it at Torrance. Normally, red is her favorite color.

By the time they get to making Pures...they might add more colors. I am guessing that we won't see Pures until late 2023 or 2024.

 

[CraZ8]

That is a big question for me as well as I plan to add AWD to the Pure config. I hope that the range of the Pure remains above 400 by adding AWD. Otherwise I may rethink the Pure. Generally with two motors as they both consume energy the range goes down but in that case you would think the Touring would have LESS range than the Pure if they both have the same battery. Or perhaps Lucid is doing something different? A larger battery with AWD but one that still leaves the footwell space? I've only seen Lucid talk about two different battery packs though.

You would also think that the HP would increase in AWD as it is being driven by two motors and bring the Pure HP in line with the Touring?

All speculation. I think this is a question that will be answered later this year once they start to get closer to production of the pure. I did ask sales but I got the following non answer:

"the Lucid air Pure does come with a Single Motor, Rear-Wheel Drive with an option to upgrade to Dual Motor, All Wheel Drive. Both the Touring and Pure have a projected range of 406 miles. While the Pure has 480 horsepower, the Touring has 620 horsepower."

I remember when Tesla added the second motor to the S the range was not affected much as the driveline becomes more efficient ( both motors are only working some fraction of their total capacity). This may be true of the Lucid as well.

 

[MorganB]

I remember when Tesla added the second motor to the S the range was not affected much as the driveline becomes more efficient ( both motors are only working some fraction of their total capacity). This may be true of the Lucid as well.

Good to know. I didn’t think of that.

 

[MorganB]

By the time they get to making Pures...they might add more colors. I am guessing that we won't see Pures until late 2023 or 2024.

My guess is spring / summer 2023 for delivery of some Pure reservations with existing reservation holders placing orders this winter. I’m more optimistic that they will ramp up production by early next year.

 

[Steveinarizona]

My guess is spring / summer 2023 for delivery of some Pure reservations with existing reservation holders placing orders this winter. I’m more optimistic that they will ramp up production by early next year.

I am more inclined to guess very late 2023 or 2024 for Pures.