Lucid Cutting Staff by 18%

[MIG]

https://www.cnbc.com/2023/03/28/lucid-to-cut-1300-workers.html

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[mini2nut]

I would be surprised if they are still around by 2025. Lucid is circling the drain. The demand for the Lucid Air is well below company expectations.

 

[jjswan33]

I would be surprised if they are still around by 2025. Lucid is circling the drain. The demand for the Lucid Air is well below company expectations.

Yet LCID is still worth nearly 3 billion dollars more than RIVN.....

 

[mini2nut]

But Rivian has billions more cash on hand. Lucid has around 4.4 billion which is expected to be burned up by 2024. We will see if the Saudis decide to dump any more money into Lucid to keep it afloat.

 

[jjswan33]

But Rivian has billions more cash on hand. Lucid has around 4.4 billion which is expected to be burned up by 2024.

Not saying it makes sense, just means that the investors have more faith in LCID for some reason.

 

[MIG]

They had as many as 37,000 preorders, if their propaganda could be believed, and 7,000 cars delivered. It's a pricey vehicle and from the couple I've seen in person, it's a bit clunky, especially at the rear. I feel the same way about the Porsche Panamera. Drove behind one on my commute this morning and it was just an odd-looking rear view. Not the sole determinant of what makes a great car but it seemed like they lost interest once they got to the rear. I was behind an R1S on my way home (while driving in my R1S) and found the rear view to be very appealing.

 

[MIG]

Not saying it makes sense, just means that the investors have more faith in LCID for some reason.

The investors just put more faith in the Saudis, who have a bottomless pit of money to throw at Lucid if they're so inclined.

 

[mini2nut]

The Lucid Air styling reminds me of a Buick that is going after the 55+ demographic.

 

[jjswan33]

The investors just put more faith in the Saudis, who have a bottomless pit of money to throw at Lucid if they're so inclined.

Maybe but if the Saudis are going to invest more money to keep them afloat that will certainly dilute the share value.

 

[mini2nut]

Lucid Motors boasts a powerful backer in the form of Saudi Arabia. The Middle Eastern country holds a 61-percent stake in Lucid through the kingdom's Public Investment Fund (PIF).

 

[Mark_AZR1T]

Lucid Motors boasts a powerful backer in the form of Saudi Arabia. The Middle Eastern country holds a 61-percent stake in Lucid through the kingdom's Public Investment Fund (PIF).

My sovereign wealth fund has a % stake in Rivian.....I'm not very powerful though, so I had to resort to designing and building a part that every Rivian owner on the planet should have....at least that has contributed back to my sovereign wealth fund

 

[kurtlikevonnegut]

They had as many as 37,000 preorders, if their propaganda could be believed, and 7,000 cars delivered. It's a pricey vehicle and from the couple I've seen in person, it's a bit clunky, especially at the rear. I feel the same way about the Porsche Panamera. Drove behind one on my commute this morning and it was just an odd-looking rear view. Not the sole determinant of what makes a great car but it seemed like they lost interest once they got to the rear. I was behind an R1S on my way home (while driving in my R1S) and found the rear view to be very appealing.

I see one some days on my way to work. It's really not a particularly attractive car.

The Lucid Air styling reminds me of a Buick that was going after the 55+ demographic.

I think the Regal is the car you're thinking of, and it does bear a striking resemblance.

 

[SANZC02]

I would be surprised if they are still around by 2025. Lucid is circling the drain. The demand for the Lucid Air is well below company expectations.

Do not forget the Saudis committed to purchase up to 100k vehicles. That may keep them afloat until the SUV comes to fruition.

 

[Mark_AZR1T]

I have two friends working there and of course there is the YouTube channel with daily fly-overs.....line has slowed and rework on paint is now 60% of all vehicles. Still funding the massive factory expansion......it isn't a last hurrah with the Saudi's there.....yet

 

[Dave711]

I recently cancelled my order for a Lucid. I could tell they were in trouble. I think I could have gotten 25k off a new Lucid but I still didn't want to do it. I really thought about short selling it.

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