Credit: Lucid Motors

Lucid Earnings: Apple Partnership, Production Ramp, and Dividends

Written by Cláudio Afonso | | LinkedIn | Twitter

The EV manufacturer Lucid Motors will report the second quarter financial results on Wednesday after the market close. Lucid’s CEO Peter Rawlinson and CFO Sherry House will answer the most upvoted questions from shareholders regarding a possible partnership with Apple, the 2022 production guidance, the payout of dividends, and vehicles revamp.

The question ranking number one looks for a clarification of a possible partnership with Apple and had 3,600 votes representing 952,000 shares, “Straight to it, we all want to know. Is their a possibility for a partnership with Apple in the future?”

The second one is about Lucid’s production guidance for this year which counted 2,200 votes representing over 740,000 shares, “Is Lucid on track to deliver 12k – 14k cars this year?”

Earlier this year, the company has lowered its production guidance to a range of 12,000 to 14,000 vehicles, down about 30% to 40% from its original target of 20,000 vehicles, noting supply chain constraints.


The third one regards the lineup plans for Lucid’s near future, “Plans to revamp production of vehicles ? Also any plans for an EV in the 40-50k to compete with the current market?”. The question had over 665,000 shares represented and 2,400 votes from the shareholders.

Recently, Lucid Motors Senior VP Eric Bach revealed in a recent interview with Driving Electric that the luxurious EV maker is developing entry-level new products. After the already known Gravity project — a seven-seater SUV that has been delayed until 2024 — the EV maker is working on a “mid-size” electric car to rival Tesla Model 3 in 2025-26.

The fourth question asks the management team about the possibility of paying out dividends to shareholders, “Does Lucid plan to payout dividends in the future?”.

Recently, Lucid announced the appointments of Evelyn Chiang, VP of Process Transformation, and Walter Ludwig, VP of Global Logistics. Evelyn worked at Tesla from August 2007 until the end of 2010 where she was VP of Supply Chain & IT and also the head of Tesla Roadster Operations, the company’s first model.

Written by Cláudio Afonso | | LinkedIn | Twitter