Written by Cláudio Afonso | LinkedIn | X
Lucid is considering building a dealer network in certain markets, the company’s Interim Chief Financial Officer and Principal Accounting Officer, Gagan Dhingra, said on Wednesday.
Speaking at the Nasdaq 51st Investor Conference in London, Lucid’s executive started by reiterating CEO Peter Rawlinson’s recent statement, emphasizing the company’s goal of achieving 6.0 miles per kilowatt-hour of energy efficiency.
In July, the company announced that its 2025 Pure variants of the Air sedan could achieve 5.0 miles per kilowatt-hour of energy, becoming the most efficient EV on the roads. With an EPA-estimated range of 420 miles from an 84 kWh battery pack, the model has an energy efficiency of 5 miles per kWh and maintains the record 146 MPGe EPA rating.
When asked whether the EV maker was considering adopting a mixed business model, including selling its vehicles through third-party dealerships, the CFO remained open to the possibility, stating that the company is “exploring multiple options.”
“We are also now exploring opportunities for everything. We’re not saying no to anything, but we’re exploring multiple options, and sometimes it depends from country to country as well, especially when you go to a new country, sometimes it could be challenging to open just one studio and you go on your own,” the CFO stated. “So we are evaluating all strategies. I cannot disclose more, but we are looking at each and every angle and things could be different.”
Below is the segment from the session where Lucid’s Interim CFO comments on the possible business model change.
In November, the EV maker registered two vehicles in the Netherlands, matching the October result. In the German market, Lucid registered 116 vehicles last month, mainly driven by a rental fleet deal with Sixt announced in October. Year-to-date registrations in the country total 372 units, up 304.3% from the same period in 2023.
Globally, Lucid produced 1,805 vehicles and delivered 2,781 in the third quarter of the year, of which 8% were leased.
Lucid has been increasing its presence in Germany — its biggest European market —, and has recently opened showrooms in Frankfurt and Hamburg. Last week, the company’s Chief Operating Officer Stefan Winterhoff revealed plans to add studios in Berlin and Stuttgart by 2025, adding that the company is “revising our strategy to establish numerous other outlets in Germany.”
Lucid shares closed about 3% higher on Wednesday at $2.43.
The company has recently delivered the first vehicles in the United Arab Emirates (UAE), its sixth market globally.
As reported earlier this Tuesday, Lucid’s Grand Touring variant of the Gravity SUV has received an official EPA-estimated range of 450 miles. Lucid started production of the SUV last week at its plant in Casa Grande, Arizona.
Written by Cláudio Afonso | LinkedIn | X
