Lucid Group (LCID) Evercore ISI 3rd Annual Global Clean Energy and Transition Technologies Summit summary

Strategic vision and company milestones

• Focused on advancing EV technology and accelerating sustainable mobility, with a mission to address range anxiety and cost barriers for broader adoption.

• Achieved over 500 miles of range in production vehicles, surpassing competitors by 100 miles.

• Secured significant funding from the Saudi PIF, enabling rapid factory development and production launch.

• Won MotorTrend Car of the Year with Lucid Air and expanded with the Lucid Air Sapphire and Gravity SUV.

• Preparing for Gravity SUV production in late 2024 and a midsize platform launch in late 2026, targeting mass market scale.

Technology leadership and efficiency

• Vertically integrated, in-house development of battery packs, motors, inverters, and software.

• Achieved industry-leading efficiency at 5 miles per kWh, enabling significant battery cost savings and lighter vehicles.

• Efficiency translates to $28 per mile of range, compared to $58 for some competitors, offering a major commercial advantage.

• Modular battery design and reduced manufacturing complexity, such as 1/10th the laser welds in motors compared to competitors.

• Plans to license technology to other automakers, with a supply deal already in place with Aston Martin.

Product roadmap and market expansion

• Lucid Air sedan sales up 40% YoY in Q1, outselling key competitors in the U.S.

• Gravity SUV, a 7-seater with luxury and performance features, launches late 2024, targeting a market six times larger than Lucid Air.

• Midsize platform, a direct competitor to Tesla Model 3/Y, scheduled for late 2026, with a goal of 1 million units annually by early 2030s.

• Enhanced marketing efforts and grassroots events to boost brand awareness and customer engagement.

• Exploring LFP and next-gen battery chemistries for future models, with efficiency gains multiplying benefits of new technologies.