Target $0

[illopp00]

Short term strategy is to convert inventory to cash. Discounts accomplish that objective. Hopefully that cash is then put into customer service. For all the money that has poured into Lucid, it appears to me that cap ex has been the priority over op ex. We've seen factories built and new technologies pursued but at the expense of day to day operations.

As far as improving the brand strategy, that's going to take more time and consistency. There's a lot to overcome there across two poorly executed model launches. The good news is that Napoli has fully acknowledged the challenges there and vowed not to make the same mistakes going forward.

As I recall the Air got off to quite a slow start due to the same things, random build quality issues and buggy software, so its not and unsolvable problem.

 

[socktucker]

You CAN trust their track record of inconsistency

Oof.

 

[gaskiller]

According to a google search, Saudi Ownership now is Approximately 56.8% to 58.4% of Lucid Group (LCID) that is owned by Saudi Arabia, primarily through its sovereign wealth fund, the Public Investment Fund (PIF) via its affiliate Ayar Third Investment Company.
The Public Market Float: Approximately 41.9% of Lucid's total outstanding shares are available in the public market float.

Market cap now is about 1.6 Billion so public Float Value: ~$670M – $690M USD - I wonder if the Saudis are contemplating taking this privateer or increasing their ownership. I know there are regulations, perceptions, pros and cons.

Downsides of going private:

1. Becomes Saudi company, which may affect sales in Western countries
2. Loss of access to US capital markets
3. Saudi have to fund another 2-3 billion at least in addition to the billion to go private
4. Security implications for Saudi company running Robotaxis in US
5. Loss of stock incentives needed to hire and retain the best talent

They won’t go private.

 

[LucidNYGuy]

FWIW, I did not see a single Gravity in NYC / Long Island’s South Shore before the summer, and now they are everywhere. Absolutely exploded here over the past few months, and almost all women driving them (I feel like the only dude driving this thing!).

This area is not an early-adopter market by any means (I was the only guy in my town with a Tesla in 2013), so I’m pleasantly shocked to see soccer moms buying Gravities. Personally, I wouldn’t be surprised if the Q3 sales numbers surprise folks.

That said, I’d guess this region is 80–90% leased, and they definitely snagged a lot of those crazy lease deals.

Also randomly saw a Gravity with Nuro tonight driving around my suburban area! No idea how many testers they have out now, but I’ve now seen tons of Cybercab testers (with steering wheels and drivers, of course) and now a Nuro Gravity. NY isn’t allowing fully driverless operation anytime soon, so I have no idea why they’re all here now.