Lucid Motors Tops 10,000 Reservations, Accelerates Manufacturing Plan Thanks to Strong Demand

Motley Fool2021-06-24

The marketing blitz seems to be working. Over the past several months after announcing that it will merge with special purpose acquisition company (SPAC) Churchill Capital IV (NYSE:CCIV), electric ...

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Comments

Ianer
2021-06-24
Ianer
Lets wait for Lucid to ramp their production. That is 100x harder than coming out with proto.
KopiKit
2021-06-24
KopiKit
The future is EV?
- 超群yibo:
  One of many EV players
kevinlaisq
2021-06-24
kevinlaisq
Pls comment and like
FFX
2021-06-24
FFX
[財迷]
Qlee10
2021-06-24
Qlee10
wow
Michishere
2021-06-24
Michishere
Wow

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Over the past several months after announcing that it will merge with special purpose acquisition company (SPAC) Churchill Capital IV (NYSE:CCIV), electric ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/23/lucid-motors-tops-10000-reservations-accelerates-m/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://www.fool.com/investing/2021/06/23/lucid-motors-tops-10000-reservations-accelerates-m/","article_id":"2145097284","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2145097284","pubTimestamp":1624499520,"columns":[],"sourceInfo":{"source_id":"fool_stock","name":"Motley Fool"},"weMediaInfo":null,"summary":"The nascent EV start-up enters the final stretch before launching the Air sedan.","collect":0,"end_time":0,"defaultTopTitle":"fool.com","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"Lucid Motors超过10,000家预订，由于需求强劲，加速了生产计划","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CCIV":0.9},"content_text":"The marketing blitz seems to be working. Over the past several months after announcing that it will merge with special purpose acquisition company (SPAC) Churchill Capital IV (NYSE:CCIV), electric vehicle (EV) start-up Lucid Motors has been opening more studios around the U.S. while also ramping up advertising campaigns to raise brand awareness. Lucid even cleverly bought an ad spot during Elon Musk's appearance on Saturday Night Live last month, knowing that the Tesla CEO would attract a receptive audience.\nLucid is heading in the final stretch before both entering production as well as closing its de-SPAC transaction with Churchill Capital IV. The company has now added over 2,500 reservations in four months.\n10,000 and counting\nWhen Lucid announced the merger, it had approximately 7,500 reservations for its Lucid Air sedan. The company provided investors with a handful of updates this week as it opens a new flagship store in New York City. Among the more pertinent updates was that Air reservations have now topped 10,000.\nHere's a timeline of Lucid's disclosures regarding reservations, which includes all trims.\n\n\n\nDate\nTotal Reservations\n\n\n\n\nFeb. 19\n7,500\n\n\nFeb. 28\n8,000\n\n\nMay 13\n9,000\n\n\nJun. 22\n10,000\n\n\n\nData source: Lucid Motors and SEC filings.\nAdditionally, Lucid says that it has now completed all of its preproduction builds and has started producing quality validation builds. In a follow-up interview with CNBC, CEO Peter Rawlinson noted that those units will be delivered to customers once the quality is confirmed to meet Lucid's rigorous standards. The chief executive called the milestone \"a big step forward\" toward launching the Air.\nIn fact, Lucid has even decided to accelerate some of its plans due to robust demand. The company is accelerating around $350 million of planned capital expenditures that will be used to expand manufacturing capacity at its Arizona factory. That budget is being pulled forward from future periods into 2021 through 2023, translating into 6% to 7% more capital spending during 2021 through 2026, according to Lucid.\nThe money will be used to combine the next two phases of the factory expansion into \"one expedited phase,\" implementing a general assembly line for the Gravity SUV that is in the pipeline. As a reminder, Lucid already completed Phase 1, which has capacity of approximately 34,000 units per year. The new plan will provide an additional 2.7 million square feet of manufacturing space, which will facilitate up to 53,000 Air units per year by 2023.\nThe Gravity SUV is mostly on schedule, but Lucid expects to release the vehicle near the end of its projected timeline in the second half of 2023. 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That is 100x harder than coming out with proto.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/128784831","repostId":2145097284,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":128833351,"gmtCreate":1624509468473,"gmtModify":1703838799011,"author":{"id":"3576477409987057","authorId":"3576477409987057","name":"KopiKit","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3576477409987057","idStr":"3576477409987057"},"htmlText":"The future is EV?","listText":"The future is EV?","text":"The future is EV?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/128833351","repostId":2145097284,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4989816,"gmtCreate":1624510357882,"gmtModify":1663229886847,"authorId":3576231291459124,"author":{"id":3576231291459124,"idStr":"3576231291459124","authorId":3576231291459124,"name":"超群yibo","avatar":"https://static.tigerbbs.com/6594cf6901beda8fdf0f00a0e5853f18","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":128833351,"type":1,"supId":0,"prevId":0,"content":"One of many EV players","text":"One of many EV players","html":"One of many EV players"}],"langContent":"EN"},{"id":128136120,"gmtCreate":1624505107960,"gmtModify":1703838660349,"author":{"id":"3572874548548490","authorId":"3572874548548490","name":"kevinlaisq","avatar":"https://static.tigerbbs.com/329de1199f764a89b7cadf50308e183d","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3572874548548490","idStr":"3572874548548490"},"htmlText":"Pls comment and like","listText":"Pls comment and like","text":"Pls comment and like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/128136120","repostId":2145097284,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":128374681,"gmtCreate":1624503804943,"gmtModify":1703838624595,"author":{"id":"3576060582803676","authorId":"3576060582803676","name":"FFX","avatar":"https://community-static.tradeup.com/news/1ef6d6cc462584c56b30f8322d0ec01a","vip":1,"crmLevel":6,"crmLevelSwitch":1,"authorIdStr":"3576060582803676","idStr":"3576060582803676"},"htmlText":"[財迷]&nbsp;","listText":"[財迷]&nbsp;","text":"[財迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/128374681","repostId":2145097284,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":128329562,"gmtCreate":1624502557456,"gmtModify":1703838570742,"author":{"id":"3559003590411925","authorId":"3559003590411925","name":"Qlee10","avatar":"https://static.tigerbbs.com/044cc5835b2fd80d79e0c6674a31d0c1","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3559003590411925","idStr":"3559003590411925"},"htmlText":"wow&nbsp;","listText":"wow&nbsp;","text":"wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/128329562","repostId":2145097284,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":128365892,"gmtCreate":1624502383416,"gmtModify":1703838564483,"author":{"id":"4087116739171250","authorId":"4087116739171250","name":"Michishere","avatar":"https://static.tigerbbs.com/ba01976dff5b88344321d016c3f16326","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"4087116739171250","idStr":"4087116739171250"},"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/128365892","repostId":2145097284,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":114,"commentSize":25,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; 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