Lucid Group (LCID) Cantor Fitzgerald Global Technology & Industrial Growth Conference summary

Production outlook and vehicle mix

• Production guidance for 2024 is set between 23,000 and 25,000 vehicles, with Q4 2023 production rates supporting this target.

• Supply chain challenges in 2023 included shortages of magnets, aluminum, and chips, but confidence remains high for meeting 2024 goals.

• The Air sedan segment is expected to remain flat, with most incremental production and deliveries coming from the Gravity SUV.

• Gravity SUV, launched in late 2023, is positioned as a key growth driver due to its higher ASP and larger addressable market.

• Positive feedback and momentum for Gravity are expected to help achieve production targets.

Strategic partnerships and autonomy initiatives

• A partnership with Uber and Nuro aims to deliver 20,000 autonomous vehicles over six years, initially targeting a limited number of cities.

• Vehicles for Uber's robotaxi service are built L4-ready, with minimal integration required, and the collaboration is seen as a starting point for broader expansion.

• Autonomy is a strategic focus, with efforts in both personally owned vehicles (in partnership with NVIDIA) and the robotaxi market.

• The midsize platform will be the first to be fully L4-capable, designed from the ground up for autonomy and flexibility.

• Cost reductions in autonomy hardware, including lidar and compute, make high-level autonomy feasible for personal vehicles.

Midsize platform and market expansion

• The midsize platform is designed for scale, cost efficiency, and ease of production, targeting a broader market with a starting price below $50,000.

• The platform allows for multiple variants with shared components, enabling economies of scale and rapid development.

• Midsize is expected to be a high-volume product, similar in market positioning to Tesla's Model 3/Y but differentiated by performance and range.

• The platform is pre-prepared for L4 autonomy and is flexible for both personal and robotaxi applications.

• Simplification and reduced part counts are key to efficient rollout and improved margins.