Written by Cláudio Afonso | LinkedIn | X
Drone footage captured on Saturday by a Lucid Motors enthusiast revealed approximately 800 vehicles parked in one of the parking lots of the company’s factory in Casa Grande, Arizona.
The footage was shared by forum moderator “Adnillien” on the Lucid Owners Forum this Monday, raising concerns about the electric vehicle maker’s demand in the U.S. and European markets.
Earlier this month, the company introduced a new leasing incentive of $7,500 Air Credit for customers in the United States. This offer is in addition to the existing $4,000 bonus available for inventory vehicles.
Last month, the company offered an Air Credit that was 50 percent lower ($3,750) for new customers in the country, while the inventory bonus was $1,000 higher, at $5,000.
In the second quarter of the year, the company delivered 2,394 vehicles while producing 2,110 units. When announcing the delivery numbers for that period, Lucid did not disclose the split between the markets where it operates.
On August 5, Lucid will publish and discuss its second-quarter financial results where it is expected an update from the management on the delivery split and on the annual production guidance which stands at 9,000 vehicles, according to the latest update on May 6.
In the first three months of 2024, at least 25.4 percent of Lucid’s deliveries were made in the Middle East, whereas Europe accounted for only a small fraction of the company’s customer base.
During the first quarter earnings call, when asked about the delivery split, CEO Peter Rawlinson stated that out of the 1,967 Air sedans delivered, “over 500” were in Saudi Arabia. This indicates that deliveries in the US and Europe totaled approximately 1,200 vehicles between January and March.
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On Monday, the chief executive said the first pre-production bodyshell of the Lucid Gravity SUV was built and transferred to the main production line in Arizona. This follows the initial rollout of Gravity bodies from the automated production line in late June.
Lucid’ Saudi Arabian facility, known as AMP-2, is currently performing semi-knocked-down (SKD) assembly and reassembling Lucid Air vehicle kits pre-manufactured in the Arizona plant. The plant is now under expansion as 7 to 8 new buildings will be added over the next months.
In March, the company said it was raising an additional $1 billion from the Public Investment Fund (PIF) of Saudi Arabia.
By then, the PIF-affiliate Ayar Third Investment Company committed to buy $1 billion in convertible preferred stock being able to convert the preferred stock into about 280 million shares.
Written by Cláudio Afonso | LinkedIn | X
