Want to purchase concerned about viability

[Trlynyc]

I am looking to purchase my first EV. I really love the luxury of Lucid, but I am concerned about its long term viability. This is nothing against Lucid. I just feel this way about any start up company.
As I like to actually purchase rather than lease my cars, I need to know that the warranty is supported by a company that will be there when I need them. Even if you get past the warranty issue, how do you get comfortable knowing that replacement parts will be available when needed?

I really don't want to purchase a TESLA. But I am really wondering how are people getting comfortable with the aforementioned risks?

 

[joec]

This topic has been discussed many, many times here on the forum. I suggest you do a search using the search bar at the top of the view.

Bottom line; no one can guarantee any car company will be around forever. Many of us feel Lucid has a strong enough backing from the PIF to endure at least the next few years, by which time we should know if Gravity and then the mid-size car moves the needle for them.

Tesla, at this point in its history, had pundits and owners asking this very question on a daily basis. It wasn't until months into the Model 3 launch that they had any claims to viability. Keep that in mind whenever you see anyone questioning Lucid's long-term viability.

 

[Adnillien]

I have had my car for two years and service and warranty has been outstanding. Lucid is well funded with a strong cash position and can likely access more funding from the Saudi PIF. Yes there is some risk but I am very comfortable with that what I consider to be a low risk. The car is way too much fun to drive.

 

[Trlynyc]

This topic has been discussed many, many times here on the forum. I suggest you do a search using the search bar at the top of the view.

Bottom line; no one can guarantee any car company will be around forever. Many of us feel Lucid has a strong enough backing from the PIF to endure at least the next few years, by which time we should know if Gravity and then the mid-size car moves the needle for them.

Tesla, at this point in its history, had pundits and owners asking this very question on a daily basis. It wasn't until months into the Model 3 launch that they had any claims to viability. Keep that in mind whenever you see anyone questioning Lucid's long-term viability.

I tried to find it with the search tool, but kept coming up empty. Apparently, I haven't figured out the right search term.

 

[CLTGT]

Most of the commentary has been centered around LCID Stock. Do a search on that and you will probably get some hits.

 

[DeaneG]

...I really don't want to purchase a TESLA. But I am really wondering how are people getting comfortable with the aforementioned risks?

Bottom line is that unless you're willing to buy a mass-market EV like an EQS, iX, e-tron, EX90 etc, there is no guarantee.
Polestar and Rivian have their own financial journeys to endure.

I agree with others that Lucid's lead investor, the PIF, is well aware of the cost of raising a car company from the ground up and has a very long-term mindset, as demonstrated by ongoing and significant investments in factory and infrastructure.

 

[Daniel2022AT]

If Lucid fails to secure funding for its future as an independent company, it has strong enough technology and growing brand value it would get acquired. If for some strange reason that would not happen, what happens next? A third party would buy the rights to the software and charge a subscription fee for OTA updates. Other third parties would provide physical service. I really don’t see any major risks.

 

[RM-S8]

I'm reading this thread and I'm crumbled.
It looks like all of us who purchased Lucid cars are either pure idiots, degenerate gamblers, or people who don't know/realize the advantages of EVs.
Well, I consider myself neither.

 

[Instinctive]

Bottom line is that unless you're willing to buy a mass-market EV like an EQS, iX, e-tron, EX90 etc, there is no guarantee.
Polestar and Rivian have their own financial journeys to endure.

I agree with others that Lucid's lead investor, the PIF, is well aware of the cost of raising a car company from the ground up and has a very long-term mindset, as demonstrated by ongoing and significant investments in factory and infrastructure.

If Lucid fails to secure funding for its future as an independent company, it has strong enough technology and growing brand value it would get acquired. If for some strange reason that would not happen, what happens next? A third party would buy the rights to the software and charge a subscription fee for OTA updates. Other third parties would provide physical service. I really don’t see any major risks.

These became the two most important reasons for me. PLENTY of capital and runway, very clear and defined strategy, and a superior tech such that if the first disappears and the second didn't work, they're getting bought up by someone and incorporated into their platforms.

 

[par11768]

Just lease the car. The buyout at the end of the lease is reasonable and if something happens or you are not sure about the future of the company, return the car. I have a friend who purchased one of the early Fisker Karmas. That company went under and getting service was impossible for months before. The car was in the shop to the point my friend went after them under the lemon laws and won but the bankruptcy halted that process. He was stuck with a non-running car in his garage for a year until the company was purchased and he was able to sell it back for a $50-75K hit - moral of the story - when in doubt lease.

 

[vices]

The best way around the uncertainty is to lease unfortunately. You can purchase afterwards if you feel lucid is in better footing in 3y, walk away if worse.

 

[Daniel2022AT]

Just lease the car. The buyout at the end of the lease is reasonable and if something happens or you are not sure about the future of the company, return the car. I have a friend who purchased one of the early Fisker Karmas. That company went under and getting service was impossible for months before. The car was in the shop to the point my friend went after them under the lemon laws and won but the bankruptcy halted that process. He was stuck with a non-running car in his garage for a year until the company was purchased and he was able to sell it back for a $50-75K hit - moral of the story - when in doubt lease.

The Fisker example with all due respect is irrelevant. Lucid is a superbly engineered, quality vehicle and Fisker is not a comparable. Go ahead and lease. I think that is bad advice depending on your time horizon and personal liquidity. Vehicles actually appreciate over a 10-20 year timeframe and EV’s especially so with 250,000-350,000 mile lifespans.

 

[no gas]

I am looking to purchase my first EV. I really love the luxury of Lucid, but I am concerned about its long term viability. This is nothing against Lucid. I just feel this way about any start up company.
As I like to actually purchase rather than lease my cars, I need to know that the warranty is supported by a company that will be there when I need them. Even if you get past the warranty issue, how do you get comfortable knowing that replacement parts will be available when needed?

I really don't want to purchase a TESLA. But I am really wondering how are people getting comfortable with the aforementioned risks?

Lucid is not going anywhere, they just expanded to 4 million sq feet in Arizona. They just need time to establish. Ignore the hate talk by Tesla fanboys and those who shorted the stock. EV tech is unbeatable, there is a reason Aston Martin dumped Mercedes and went with Lucid for their future powertrain. Lucid also supplies Formula E. I bought last year, and even considering buying another Air or Gravity for my wife.

 

[Cosmo Cruz]

Given my age I rationalized this would be the last car I own.
Because it's just a battery-powered fan I figure it will last forever...change out battery pack as technology improves ... done.
The performance of the Lucid is way beyond my skill ... I don't need Sapphire specs .... I'm already scared enough.

Although ... I'd love to see how torque-vectoring feels... dammit Lucid... Had I waited a couple of years, that's where I'd be...no need to tell the wife it's an entirely different Bear or what it costs. I'd just say I bought the blue one.

 

[rdevillers]

I am looking to purchase my first EV. I really love the luxury of Lucid, but I am concerned about its long term viability. This is nothing against Lucid. I just feel this way about any start up company.
As I like to actually purchase rather than lease my cars, I need to know that the warranty is supported by a company that will be there when I need them. Even if you get past the warranty issue, how do you get comfortable knowing that replacement parts will be available when needed?

I really don't want to purchase a TESLA. But I am really wondering how are people getting comfortable with the aforementioned risks?

I had these same concerns when I bought the first of our Teslas 9 years ago.

As others have said, Lucid’s IP is very valuable and, worse case, someone would buy up the company just for that. Someone who is far behind in EV‘s - like Honda, for example.

 

[Cosmo Cruz]

Please people, this horse is dead

and the grapes are delicious.

This is the best car, and car company, in the world.

Go ahead, keep shorting the stock. LOL!

 

[xponents]

Go ahead, keep shorting the stock. LOL!

And keep losing money.. Ive ALREADY made a good sum from the stock, and Gravity/midsize hasnt even started yet!

 

[Cosmo Cruz]

I was very lucky. I got in when it was about $10, then sold half my shares when it went above $50.
Holding on to the half I kept, but since then turned-over financial management to the pros. I hope they don't sell it for tax deduction against my other gains.
It's driving me crazy, because when it got below $3 ... I wanted to mortgage the house...wife / wealth managers won't let me.
They insist I need to stop playing stock investor.
She doesn't know I"m drooling over the Sapphire. Pretty sure buying LCID now will get me there in a couple of years, and then some.

 

[xponents]

I was very lucky. I got in when it was about $10, then sold half my shares when it went above $50.
Holding on to the half I kept, but since then turned-over financial management to the pros. I hope they don't sell it for tax deduction against my other gains.
It's driving me crazy, because when it got below $3 ... I wanted to mortgage the house...wife / wealth managers won't let me.
They insist I need to stop playing stock investor.
She doesn't know I"m drooling over the Sapphire. Pretty sure buying LCID now will get me there in a couple of years, and then some.

I first got in at around 7 dollars and sold it at that short spike when people thought the Saudis were taking Lucid private, it jumped to 17 and I sold it for 14. I later put all my money I made from that into my next purchase of the stock at 2.7, and I haven’t sold it so far! In it for the long term though.. if it hits around 50ish I should have 5 digits of profit! Gravity will be a SMASH hit.

 

[Steveinarizona]

Everyone has a different risk quotient. There is some risk in purchasing a vehicle from a new company but there is also some risk in purchasing a car from an established company: Studebaker, Plymouth, etc. Each of us must determine which risks cause angst and which are manageable to the individual.

When Saab ceased to exist, other dealers took on the responsibility of stocking replacement parts, etc. But, when it failed, it was part of GM (which also probably explains why it failed) and Lucid is not part of any existing car company,

This post, to here, demonstrates to me the validity of what I am saying. Some think the OP makes sense, some think it is not a real fear, etc. Only the OP can make that determination for herself.