Lucid Group (LCID) Deutsche Bank Global Auto Industry Conference summary

Strategic vision and mission

• Founded in 2016 to advance electric vehicle technology and accelerate sustainable mobility.

• Engaged in Formula E, built North America's first purpose-built EV factory, and rapidly brought Lucid Air to market.

• Focused on in-house, vertically integrated technology for differentiation and efficiency.

• Achieved a certified 5 miles per kWh, aiming for 6 miles per kWh for future sustainability.

• Plans to multiply addressable market with Gravity SUV and a midsize platform targeting 1 million units annually by early 2030s.

Technology and competitive advantage

• In-house development of battery, motor, inverter, and software enables superior efficiency and sustainability.

• Lucid vehicles achieve up to 50% greater efficiency than competitors, with a growing gap.

• Cost per mile of range is significantly lower than competitors, providing a strong commercial advantage.

• Announced a landmark deal with Aston Martin to supply powertrains, with ongoing discussions with other OEMs.

• Continuous innovation in motor control, electromagnetism, and high-voltage systems to reach 6 miles per kWh.

Scaling, production, and financials

• Current losses per vehicle are primarily due to lack of scale; factory capacity is expanding to 90,000 units.

• Three-step scale plan: grow Lucid Air, launch Gravity SUV (late 2024), and introduce midsize platform (late 2026).

• Gravity SUV targets a 6x market expansion; midsize platform aims for $48,000–$50,000 price and global reach.

• Construction of AMP-2 factory in Saudi Arabia underway, with initial midsize production planned there for global markets.

• $5 billion in cash and equivalents, with runway into 2025; further capital raises expected for long-term growth.