Lucid Motors reported on Thursday evening its Q1 2022 Earnings reporting a total revenue of $57.7 million and 360 vehicles deliveries to customers in the first quarter. During the following Conference Call, and answering to one of the most voted questions by Lucid shareholders, Peter Rawlinson said their vehicles can “go further” and charge faster than any other model.
Our next question is what is Lucid’s plan for a charging network? Tesla obviously has the advantage over the EV market right now with their network of chargers. Will Lucid be mirroring a similar solution or will there be an adapter to utilize other charging networks?
Peter Rawlinson, Lucid’s CEO
Yes. Well, I mean, first of all, the remarkable efficiency and range of Lucid Air, I mean, you can replace range anxiety or the range confidence, you can go further in the first place. And we also have an advantage, because we have the fastest charging car in the world. We have demonstrated up to 300 miles range in about 22 minutes.
It’s a profound commercial and technology advantage. You simply charge less when you have greater efficiency and the longest usable range. And also, I believe that we have a significant second mover advantage. We have got a 900 volt vehicle, others are at 400 volts and we have a much faster charging vehicle. And when you need to charge, you can charge your Lucid Air virtually anywhere in North America using an open source combined charging system, the CCS plug, the current standard, that’s super important that we have open source.
BE THE FIRST ONE TO GET THE NEWS
And then we combined the Air’s wonder box boost charger cannot automatically recognize your Air, adjust the incoming voltage and boost voltage for the quickest possible charge. So, it’s got boost voltage capability. And this means makes charging easy at home or at any public station. And you can also charge up by plugging the included Lucid mobile charging cable into a typical household outlets or a NEMA 14-50 for a faster rate of charge.
Now, that said along with Air’s astonishing range, you can also benefit from our partnership with Electrify America and the most extensive network of ultra-fast public charging stations nationwide and they have over 750 stations and over 3,300 chargers I believe across the U.S. and plan to have more by the end of the year. And don’t forget, when you reserve an Air by June 30, 2022, you get complimentary access to up to 350 kilowatt charging for 3 full years in the USA — Lucid CEO concluded.
On April 27, Lucid announced an agreement with the Government of Saudi Arabia to deliver up to 100,000 vehicles over a ten-year period, with an initial commitment to purchase 50,000 vehicles and an option to purchase up to an additional 50,000 vehicles over the same period.
Lucid Motors announced recently that it will introduce a new version of Lucid Air, the Lucid Air Grand Touring Performance. The new version delivers 1,050 horsepower and accelerates from 0-60 mph in 2.6 seconds becoming the most powerful electric vehicle in the US.
Lucid will inaugurate its first European showroom in Germany in May amid global expansion. The confirmation was made through a billboard placed on Terminal 2 in Munich (Germany) saying: “Visit our Lucid Studio in Munich. Opening May 2022.”