Lucid Interim CEO on EV Market, Tariffs, and Tesla Owners Switching

Impact of Auto Tariffs

• ⚠️ President Trump's announced 25% tariffs on foreign autos and parts are causing significant stock drops for both foreign and American automakers.
• 📈 Goldman Sachs and Bank of America predict imported car prices could increase by $5,000 to $15,000 due to these tariffs.
• 🇺🇸 Lucid Motors emphasizes its commitment to US manufacturing, with its vehicles assembled in Arizona and key components like the e-motor, drivetrain, and battery modules produced domestically.
• 💡 The company is also securing critical raw materials, such as graphite, for US-based production.

Lucid Gravity: New Model and Demand

• 🚀 The new 2026 Grand Lucid Gravity Grand Touring model starts at $94,900, with a Touring trim to follow at $79,900.
• 💰 Orders for the Gravity are averaging over $100,000 due to customer-added options, indicating strong demand for higher-configured vehicles.
• 🎯 Lucid aims to attract new customer segments with the Gravity, with over 75% of its orders coming from individuals new to the Lucid brand.

EV Charging and Performance

• ⚡ The Lucid Gravity boasts 0-60 mph in 3.4 seconds and offers fast charging capabilities.
• 🔋 While BYD announced a 5-minute charge for 400 km (approx. 170 miles EPA) using new high-voltage charging stations, Lucid's Gravity achieves its charging speed in just over 8 minutes using currently available US charging infrastructure.

Attracting Former Tesla Owners

• 🚗 Lucid is seeing a significant increase in orders from former Tesla owners, with 50% of current orders coming from this demographic.
• 💡 These customers are described as EV-savvy individuals looking for alternatives to Tesla, with some citing a desire for newer models and potentially negative feelings towards Elon Musk.

Lucid's Market Position and Stock Performance

• 🏆 Lucid Air was the bestselling EV in its segment in the US in the second half of 2024.
• 📈 The company experienced four consecutive record quarters for production and deliveries prior to the Gravity launch.
• 📊 The introduction of the Gravity is expected to drive higher sales volumes and improve the company's stock performance, with a focus on continued execution and delivery numbers.