Lucid Motors released a detailed agenda on Monday for its first-ever investor day, scheduled for March 12, adding an appearance by Uber‘s president and signalling that affordability and a path to profitability will be one of the major focuses of the event.
The webcast begins at 8:00 a.m. ET on Thursday.
Interim Chief Executive Marc Winterhoff will open with a session titled “Our Next Chapter: Accelerating to Profitability,” followed by presentations on revenue growth from the Air sedan and Gravity SUV, the midsize platform programme, and autonomy strategy.
Chief Financial Officer Taoufiq Boussaid will close with a financial roadmap covering scale, profitability and capital discipline.
Lucid x Uber x Nuro
Andrew Macdonald, president and chief operating officer at Uber, will join Winterhoff for a fireside chat on robotaxi adoption and the two companies’ partnership on a next-generation robotaxi service set to launch commercially later this year.
Both companies — together with Nuro — announced in July last year a robotaxi program in which Uber purchases 20,000 Lucid Gravity vehicles, equipping them with Nuro’s level 4 autonomous driving technology.
The announcement sent Lucid’s stock price sharply higher.
However, the lack of details on the potential revenue from the deal quickly erased those gains.
Despite the EV maker’s interim chief saying the company saw the 20,000 units as a start, Uber has not confirmed its intention to expand the purchase beyond that number.
Mid-Size
Winterhoff used a LinkedIn post on Monday to preview the midsize programme directly.
The company “will make the Lucid vehicles more affordable,” he wrote, adding that Lucid is “working feverishly to bring our upcoming midsize platform vehicles to market, which will bring the same Lucid DNA at a starting price below $50,000.”
He was careful to frame the lower price point as a broadening of reach rather than a retreat from the brand’s positioning.
“Our midsize vehicles will also be premium vehicles, even at that price,” Winterhoff wrote.
“Lucid stands for ‘Compromise Nothing’ — awesome driving machines, with unparalleled efficiency, leading technology, segment-leading space, and handpicked, luxury materials and craftsmanship,” he added.
The first midsize model is set to begin production in Saudi Arabia later this year.
Lucid has invited analysts and journalists to receive an early preview of the programme ahead of the investor day, a detail first reported in a research note by Cantor Fitzgerald senior analyst Andres Sheppard following the company’s fourth-quarter earnings.
That same note cut Cantor’s price target on Lucid‘s stock by 33.3%.
Winterhoff and Boussaid are also scheduled to appear at Cantor Fitzgerald’s Global Technology & Industrial Growth Conference in New York on Tuesday, two days before the investor day.
Lucid’s Stock
Lucid‘s shares closed 6.4% higher on Monday at $10.40, continuing the rebound from the all-time low of $8.90 — equivalent to $0.89 pre-reverse split — hit immediately after the fourth-quarter earnings release on February 24.
The stock has fallen roughly 98.0% from its 2021 peak.
The company carries a market capitalisation of approximately $3.4 billion, equivalent to roughly a third of the Public Investment Fund’s total investment in the company.
The Saudi sovereign wealth fund holds a majority stake in Lucid.
The EV maker faces sustained pressure to narrow losses and build demand for its two existing models while bringing a third to market.
