WHAT YOU MUST KNOW FROM THE LUCID MOTORS INVESTOR CALL
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Lucid Motors (NYSE:CCIV) Held its Investor phone call on July 13th, 2021, here's what was said.
- World-leading technology, they expect to have the FIRST 500 mile EPA cycle EV, the Lucid Air. #FirstTo500
- Former Apple executives will be leading the charge in software and hardware, UX/UI HMI (Human Machine Interface.)
- They are not just creating a CAR but a NEW luxury brand.
- They Have racing proving technology, They are leading in High Performance, High Range.
- Their market position will be a huge factor in their success, they will/want to be the world premiere for Luxury EVs.
- Project Gravity - Progressing well.
- Lucid Motors....NO The Lucid Group, Cars, Technology, Energy.
- Bi-directional charging, the car can be used as a Storage System - Help pays for the car!!!
- 9HP per Kilogram - Way ahead of the competition, the closest is 3.2HP per Kilogram.
- Super efficient lights help with range efficiency.
- Injection Molding - Reproducible high-quality injection molds, will help with the mass production of affordable Lucid Cars.
- All core electric technology is done in-house. Part of their secret to getting high performance and high range, all in the LPM-1 plant.
- 19.2Kw of AC Charging = 70 miles of charge per hour at home.
- No need to invest in a fast-charging network, partnership with Electrify America.
- High voltage, 350 kilowatts: second-mover advantage.
- 300 Miles on 20 minutes of fast charging.
- Bi-Directional Charge: Car-to-Grid, Car-to-House, Car-to-Car.
- Lucid Air Dream Edition is now fully reserved and total Air reservations are above 10,000.
- The Lucid Motor Team has continued its expansion in North America, Europe, and the Middle East. With an employee, count know over 2300.
Vehicle Testing and Validation
- Crash testing program is almost complete.
- Lucid Motors EPA testing is underway.
- Lucid Motors is still on track for 2H 2021 customer deliveries.
- Pre-Production run of 89 Lucid Airs completed in June on schedule.
- Production run for final quality validation is in progress.
- Manufacturing facility is ready for 2H 2021 Start of Production for customer deliveries.
Retail and Service
- Lucid studios now open in Illinois and New York.
- More retail and service locations to open in the US & Canada in the coming months.
ESS (Energy Storage Systems)
- Lucid ESS prototype testing is progressing well, which includes integration tests, and tests with solar installation at their headquarters.
- Lucid Motors is working towards a larger pilot project ad the Lucid vehicle manufacturing facility in Arizona (AMP-1).
- Plan to accelerate approximately $ 350 million of planned CAPEX investment from future periods into 2021 - 23 and to otherwise enhance manufacturing capabilities by expanding overall CAPEX investments by 6 - 7 %.
- Accelerate additional manufacturing capacity for Lucid Air to capitalize on expected demand.
- Vertically integrate certain functions (e . g . , Stamping & Battery Enclosures) via accretive in-housing investments (higher quality/lower costs.)
- We expect to launch Lucid Gravity at the end of our projected second half of 2023 timeline and intend to have increased production of Lucid Air in 2023 and 2024. We expect total vehicle volumes to be unchanged for 2023 and 2024.
- We continue to expect our existing cash resources following the business combination will fund our planned operations at least through 2022.
- Combine the next two phases of AMP-1 into one expedited phase. This will provide another 2.7 million square feet of additional production space.