Written by Cláudio Afonso | LinkedIn | X
Luxury EV manufacturer Lucid Motors announced Friday it opened a new showroom in Hamburg – Germany – marking the fourth in the country and the eighth in Europe.
Last month, the company led by Peter Rawlinson had opened a store in Frankfurt which followed the Munich and Dusseldorf stores which opened in May 2022 and September 2023, respectively.
Lucid’s newest showroom, located at Poststraße 21 in central Hamburg, sits near rival Nio, the Shanghai-based EV manufacturer that opened its own store there in June.
In Europe, Lucid is currently operating in Switzerland, Germany, Norway, and the Netherlands.
Earlier this month, the EV maker announced it signed a purchase agreement with the German rental firm SIXT to offer its model in the country.
The Lucid Air sedan, including the Pure, Touring, and Grand Touring variants, is now available for rental in Germany with prices starting at €999 per month on a minimum 360-day contract.
Lucid registered 41 vehicles in Germany in September, marking its strongest performance since entering the market.
Following the announcement of the purchase agreement with SIXT, the new record was likely due to the delivery of the first batch of Lucid sedans in the country. In August, Lucid had recorded 13 vehicles.
Last week, Lucid Motors announced a 262 million stock offering to raise about $1.75 billion.
Since the announcement, the stock has fallen about 23%, extending its year-to-date losses to 40%, as Wall Street analysts expressed surprise at the move.
Commenting on the capital raise, Rawlinson said it “should have come as zero surprise to anyone” while affirming that the new funds will secure the company’s financial runway until 2026.
Written by Cláudio Afonso | LinkedIn | X
