I think investing in a bucket of shit for profit returns, is a better investment than "The Line". I mean, what were they smoking before coming up with the worst idea this planet has ever seen, even the dinosaurs are rolling in their graves.
@NerreraFightStories not really. Every1 who cared already knew this shit is straight up impossible (at least not in proposed scale). Can't get "worse than you think" if you knew its already rock bottom worst case.
It's pretty easy to make a good car if you are allowed to lose $200k per unit I would imagine. Imagine what a BMW or Porsche would look like if instead of making profit they were allowed to lose $200k per unit? They would be amazing.
How dio the old big OEMs profit of the century of knowing how to bend steel? Where is the mass of PROFITABLE affordable or even 'luxurious' EVs of Toyota, VW, Ford, GM, Stellantis (especially in the US)? Without Tesla there would be even less than now!
Anyone can make good cars when you throw money at the problem The challenge is designing and manufacturing profitably Honestly it’s just dumb to put any money into a new ev car company. The industry giants have woken up, they already have parts from previous cars, they aren’t building from scratch. Tesla was a once in a generation event
Nah, I think they got exactly what they wanted. If it was doing well, they wouldn't have been able to buy a controlling stake in it and force them to build a plant in Saudi Arabia. They needed a failing car company, and they got exactly they were aiming for. As for whether it's a good idea to lose so much money trying to build up in industrial sector that seems destined to be eternally priced out of the market by high wages in the country, I don't know.
Lucid is a far better car than Tesla,watch Jason camissa's video on it.if the fundamentals are good ,in long term,any investment will pay off. RUclips wasn't profitable till the 20's
I drove a Lucid Air Touring at the nearby Lucid store just last Sunday and it was really impressive. I'm waiting to drive the Gravity before ordering anything though.
Not sure they are taking the right approach with Gravity, coming out with the more expensive version first. Their problem is lack of volume and the higher price point version may have little impact on overall sales volume. They may be afraid that the lower price SUV will undercut sedan sales.
Lucid is in this for the long haul. They have the best technology, and they will be selling premium cars all around the world. The Saudis have staying power.
The BetaMax was the best technology but the VHS format killed it off. There is more than the "best" technology. You gotta have a decent price, good production, quality and build something for which there is a market.
Elon Musk always said by far the hardest task Tesla faced was figuring out how to mass manufacture their vehicles, not designing them or making prototypes.
I keep asking myself the very same question. Seems like the only person getting rich is Pete rawlinson. All the magazines said they had great cars, but they keep selling them at a loss. They said watch out for a 48,000 car.... Why are we watching out? Are we watching to see how much more money you can lose per unit???
Lucid seems to make great cars, but they are not cheap and the market for luxury EVs isn’t all that great. Tesla got away with using Model S sales to fund expansion of the company because back then their were the only game in town.
Quotes of "loss per car" are meaningless because they have to invest insane money just to make any car. Wheras established manufacturers already have manufacturing plants, people, suppliers, etc. Theyre not selling a 300k car for 100k. Theyre selling a 100k car while burning tons of money on "growth".
@@kaasmeester5903 Mr Rollings said to start a new car company you have to come out with the luxury models first the most expensive then you bring out the more affordable last this company is really owned by the Saudi and the cost is just a drop in the bucket to them the PIF fund has about a trillion dollars and they have enough oil to last over 200 years
@@brilanto No, it's because EVs were always a much more complex and resource-intensive technology than internal combustion engine vehicles. And when you add on the extra 'tech' (as these are primarily designed by tech companies and not auto companies), these EVs are products that suffer from premature obsolescence... making them even more resource-intensive and wasteful. In addition, the shift to EVs required the building of a completely new charging infrastructure and would entail the auto repair industry to completely re-train and re-tool and, the biggest problem, would require a massive expansion of electricity grids and power generation. In reality, EVs were just a way of the upper middle class and the upper class to cosplay as environmentalists while doing absolutely nothing to reduce their extremely resource-intensive lifestyles.
@@davidc1878 specifically for US, service is essentially pert replacement regardless if it’s ice or ev, big cities have no issues with amount of charging stations, esp now that Tesla is opening up for other brands. As far as being more complex, developing ice would take start up 20 yrs and still be worse then a lot of competition. EVs opened up the market and progress for sure. I don’t see it fully replacing ice any time soon but it has its use cases
@@davidc1878 I see, you fully soaked up the OEMs' 🤡 arguments... Batteries (even that in the cars) help to stabilize the misplanned grids and are almost fully recyclable, after their very long lifetime is exhausted - to create new batteries even cheaper along the falling price from the scaling and growing supply. It's the combustion engines with planned obsolescence to sell more cars, parts, compulsory service [btw missing only with Teslas] to feed the greedy dealerships and Big Oil losing their profits, as renewable energy takes away the business case...
Wasn't the first guy to come up with that model. William Rockefeller and Anaconda Mining company wrecked the global economy for 10 years, pumping out fake stock worth more than the vompany and its profits...
My buddy was on the lucid hype train a while back with an avg of $32/share.. I told him it was a terrible investment and he wouldn’t listen.. finally it hit around $26/share and I went over the company’s financials with him and how he should cut his losses.. he listened to me and sold and he still thanks me all the time.. we live in a pretty wild time when there’s so many different bad stocks being hyped right now..
@@gokublack316 first off that just happened yesterday,. Secondly he he didn’t lose $700k. He bought $700k worth of Intel shares yesterday and his position is down roughly -30% altho he hasn’t even sold. So if he were to actually sell today he would have realized losses of -$210k but he hasn’t.. Intel is also a solid company that has been around for a long time Meanwhile Lucid is down about -95% from the highs and is a new company that is completely unprofitable, has massive debt and is headed to bankruptcy.. and many ppl actually lost huge percentages of their position gambling on a trash stock..
I sold a put and used those funds to buy more shares. If you want to make guaranteed cash open a US savings bond account. Every equity carries 100% down side risk. The PIF is money in the bank as exposure to an equity with what amounts to the backing of a sovereign wealth fund.
I see Lucid as a battery power company. They have an innovative product with their battery design and regenerative braking tech. I see the cars as proof of concept, evidenced by their involvement in F1e. Their goal may really be to sell their tech product or license patents to other manufacturers.
Saudi would do better taking the Norwegian route. Instead of investing the sovereign wealth fund into failed projects, just invest it into a diversified portfolio of international stocks and bonds. When you saved enough, you can just live off the interest and dividends forever.
Who told you Saudi didn't do that? Norwegian wealth fund also pumped some flops too, they all really aren't so different. The Saudi knows Oil will not last forever and they need to do something, Manufacturing are labor intensive and provide jobs, just look at China, the government pumped A LOT of money into the EV sector, and they only got 1 decent EV maker out of it.
they have their own personal wealth fund invested heavily in the west from football clubs to hotels to apple to Microsoft. in case they need to flee when the oil dries up and the arab civilians start hunting them to kill them. but they want to keep their fiefdom and to do that, they need to create a post oil economy. except they are failing miserably at it. As they are too stupid and probably killed all the smart people or tortured them to flee if not. that's usually how idiot nepobaby rulers are.
@steak5599 I don't see Norwegians investing in such idiotic idea as a 170 km long linear city in a desert. Lol. The Saudis take bad investing to a whole new level.
I met the Saudi member that made this acquisition and they have a lot of pride for Lucid. They honestly have an unlimited budget. Although they are wanting profitability, they see the long game.
Has no long game even tesla that sells for less which lucid is just a rip off of because it has people from tesla has a hard time to sell now because people that wanted electric cars got them already and electric suck since need special charger areas
TIL there's fewer than 278 days in a year. I think executive pay is the least of Lucid's problems. They'd be burning tons of cash even if they didn't pay any of their execs a dime. Also have to imagine getting paid in equity in a failing business isn't all that it's cracked up to be.
They are the definition of more money than sense if they want to get into the automotive industry, they should be the destination hub for hot weather testing. They also have enough money to evolve the company into a energy company and make other avenues of green energy production more cost effective.
While its bad that its not making money. Creating an industry from scratch on an unindustrialized country is super expensive. This is why most of the world ISNT industrialized.
All these EV companies behave and expect to be treated like tech companies. They aren’t tech companies they are car manufacturers. It’s a really tough business, ask GM, Ford, Toyota, Honda, etc… there is a reason new car companies ,even regular ones, never last or are bought out by the big boys. You can’t make cars on a small scale and make money unless you are charging 200,000 or more. The scale just isn’t there.
You can't start off that way with new products. Every high tech product is high like the first cars, tvs, cell phones, VCRs until you reach mass production.
Starting with a high performance vehicle was a good way of justifying EVs when establishing the market. Unfortunately there is a limited market for premium EV customers. The next challenge for EV manufacturers is cost efficient production which is proving to be really difficult for many brands
No, the losing strategy is starting off trying to produce a low-cost low-margin product when you can't even make a profit on the high-cost "high margin" version.
They seem one of the EV startups that pitched themselves as following the Tesla model to investors to exist in the first place. Start in the highest end market can produce a product where the low volume you can produce as a start up might be able hit a niche to offset the high costs of early phase development. Then as you improve your internal design/production infrastructure target a wider market but still high end of vehicle market so theoretically profitable, since EVs inherently were still going to have a cost premium over ICE vehicles, even if you were not still far behind production capacity of traditional automakers. Eventually producing models most people could afford to buy, which even Tesla has arguably not gotten far enough to get price point that low, and likely either Tesla or traditional auto manufactures will likely reach that before Lucid. On top of which, even if they somehow could produce the cars at those price points, there still is not enough of the raw materials EVs need mined per year to displace the entire number of ICE vehicles sold per year. So to sell to the masses either requires increasing like a dozen materials mining capacity magnitudes of order, or developing new battery chemistries and some alternate materials for various components/structures. Which those materials probably either cost more or have disadvantages in performance, since if were cheap and effective would be the standard now.
I’ve been a race car driver in SCCA since the late 80s. I can assure you that literally no one (and especially not distracted tech-obsessed people) needs a 500hp car for the street (to say nothing of 1000+ hp). The weight and power levels of these electric vehicles is really concerning. What happens when a 6000lb electric sedan with insane acceleration hits a smaller normal car?
I mean, i was hit by a regular car from the back in a Tesla. Nothing happened to me except the bumper being damaged. The other car was wrecked and needed to be towed..Idk if its good or not but i can definitely say an EV saved my life.
Plaid driver here: the Plaid is the safest sedan ever built, and the 0-60 is not only insanely fun, but has gotten me out of a hairy situations caused by distracted drivers more than once. Most amazing car ever built. I also drove the Lucid Grand Touring and was underwhelmed by the tech, and, believe it or not, the interior.
I made a killing on the SPAC, almost a 5x on my money. I seen the $87 Billlion MC for IPO and fired in my profit, got smashed for 85% loss. Loved the car and ideology, but the company screwed the numbers and Wall street over valued IPO
doors not closing and squeaky steering wheels to be expected from a new car company ? no its not to be expected for the price they are asking it should be immaculate.
The SPAC is the symptom, not the cause. They have to merge with a SPAC because the business is such dog shit they couldn't pull off a traditional IPO. And the whole reason they wanted to go public was to get another big pile of investor cash to burn.
Interesting article. Some good points here. You really missed a big one. So far the product is 100% on target. If they can deliver on gravity the quality they have on air in 2025, and then in 2026/7 on an affordable sedan, they look very promising. It’s a long game, but those deep pockets set them up for success.
I test drove a Lucid when I was shopping for a premium EV. It is not a good car for the price: 1. The ride was very hard for a car at this - it does not have air suspension 2. The apple carplay integration is terrible 3. The automatic lane keeping is glitchy I ended up getting an EQS, which is much better in every way, for the price point.
Why is Saudi Arabia investing in electric cars? You'd think that would be against their best interest since the biggest reason they have $100 BILLION in cash is bc of gasoline powered vehicles. Also, why can't anybody make an electric car with style? They all look alike. And why isn't there any companies working on solar power batteries for these vehicles? There has to be some connection to electric companies, no?
You do know that Tesla will be happy to cover your roof with solar panels to charge your EV (for a price) do you not? A car that has the solar charger built in just won't work, there's not enough surface area on a car.
If the Saudis didn't have oil you would know nothing of them because they wouldn't even be able to make headlines even if they launched a terror campaign
At 4:15, what version of the model S are you comparing to the lucid? You definitely have to be much clearer if you're going to draw comparisons on specifications, because there is a model S that has much better specifications than you have provided
Or, the real goal NEVER the profit, but influence 🤏 The saudi royal mafia bought sporting teams & entities & lost billions on them only to sport wash & use them to pay indirect bribes 🤷♀️
Not necessarily. An earlier ruler once threw away a truckload of silver at a random construction worker who did a hilarious stunt. That construction worker was Mohammed Bin Laden.
@@samsonsoturian6013that's not true. what is it with west and constantly lying about Muslims. bin laden comes from a massively rich construction family. they have been rich since the kingdom started selling oil. well before bin laden himself was born.
LUCID was in the new Beverly Hills Cop movie it was a nice shot of a LUCID building and Car! Pretty sure theyre gonna go far the morals and principles of the individuals who run the company are what i looked at in the beginning of 2023
Aside from Tesla ALL the small EV makers will be out of business by the end of decade....just like Rambler, Hudson, Packard, from the old days when GM, Ford, and Chrysler put them out of business.
lucid is a genuinely baffling company and it'd be fascinating if someone ever dissected why nothing ever seems to go right for them. they just lost dan bell as head of software, a guy who worked on the original iphone and ran intel's mobile division, because after 3 years he couldn't fix the dysfunction in their software team. you can almost see apple HQ from their office but it took them 2 years to get carplay working. they're a startup but the code running in those cars now is directly descended from junk slapped together for demos of those 2016 prototypes. shutting them down is almost a mercy, but the saudis keep it going for reasons nobody understands. just a complete mystery.
@@richseng this year apple cut their losses on their long running and expensive car programme so id say zero chance they would buy a EV company that is losing even more than they did on their own
@@richseng This is a viable option and wouldnt be awful for Apple. I believe they had an autonomous car project that they shut down. Apple really should get into the car biz. There are ppl who will be loyal to apple regardless of what the product is, and cars are about as big as you get w manufactured products in USA
@@m.o.n.d.e.g.r.e.e.n Well, as Elon said, building a car company is HARD, and if Lucid already did 85% of the work, and Apple could buy up the infrastructure & capacity at 10 cents on the dollar, it could/would make sense if they put the right team together... and they would, as many of the best engineers worldwide would rush in to help make it happen. I think it could be a coup for Apple, instead of them just buying back their own shares. Steve Jobs would go for it. The challenge would be a drug that every shareholder would get to hit on.
Not sure how much money the Saudis have, but given that Softbank lit a bunch of their money on fire, it seems to me that they need to make a very decisive and large scale move into the ev/hybrid industry. I don't think it is through Lucid because they need to make cars for the everyday person. That's how you cement yourself as a global, reputable, recognizable auto producer. Luxury cars only appeal to the wealthy, which will pigeonhole their growth. You can also make way more money. They need to be competing directly with Toyota, and they will only have the exorbitant capital to do it for a limited time. That's my take, anyway.
They have really solid tech and now need to scale. Scaling takes a lot of runway and capital. If allowed the time to scale, I think they will be successful.
Thanks for not doing your "preview of what will be discussed" and just making a video. One of my biggest issues with a few of my favorite channels is the preview, but thankfully I can fast forward 3 unnecessary minutes. great work as always
I think this shows just what Tesla and other EV makers are up against. The Auto industry is not only incredibly competitive, as this weren't enough. It's also driven by governments which don't care about losing a fuckton of money per car sold. Lucid is not real player on the car market, they're a tool for building a future Saudi Arabia when the oil cashflow dries up. It's no fun to compete against such a tool.
Lucia’s biggest problem is that they have seriously overestimated how many people want, or can even afford a $100K+ car. If they’d come out with a $30K car, they’d be crushing it.
Good tech but poor mgmt & vision! #1 problem was focusing on sedans which are declining in popularity. Sure, start with expensive halo sedan with immediate follow-on more affordable SUV! Why commit to so many variants of the sedan only?! And how in the world does this CEO with no vision and poor mgmt skills & team get paid $300m+ annually?! LCID’s mktcp is $6b today so that means shareholders are paying their CEO 5%/yr of the company’s value…crazy!
Actually the reason is more then likely is Elon Musk is not well liked in Saudi Arabia and they are trying to stick it to tesla , and even Tesla is in trouble due to recent report and have had huge layoffs not even giving the employees any noticed, As a saphire owner I can Honestly say the lucid was so much better then my tesla s .
@SOLOSOLOSOLOSOLOSOLOSOLO let me guesse a tesla fan boy ,who thinks tesla are the best , sorry to burst your bubble but they are far from it , with so many issues such as car not painted properly , nothing lines up them turning off car features that are already paid for by the previous owners, trying none stop to get us early adopters to of the model S to get us to upgrade so they can get us out of lifetime free charging etc,My lucid has had zero issues so far but if I had a choice I really wish in North America they would realize that what BYD and NIO are doing with the possibility of swappable batteries would be a much smarter route. Yes My lucid is expensive but honestly in the long run was a better choice , as it does the job of 3 cars Great for my job ,fun to race and huge on the inside to show my clients there future home also its a right off
lucid is tesla both made by same people tesla workers working at lucid only difference between the two is price because lucid needs to charge more to pay for costs due to less sales.
What is needed is a battery the size, weight and energy density of, say, a 14 gallon tank of petrol. About 450-500KW-h. And take 5 min or less to charge to at least 80%. Imho, until that's achieved, electric cars will remain too expensive to make and too heavy to be engaging driving tools.
The 70k Lucid is better than the Tesla Model S, 15 miles longer range, much better built quality, better looking while being 5 grand cheaper. Plus it comes with $2,000 charging credit though incentives I believe
Only ONE winner being Peter. Never ever there will be an automotive industry in Saudi. Too expensive, a local workforce which is just lazy, too warm/restrictive to have a decent life for a quality foreigner. Took toyota 1 minute to fo the analysis but 2 years to explain says it all .
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I've always wondering this very question. I mean there have good technology but they need to start mass producing cheaper vehicles in the 40-50k price range
Their major problem is the over reliant on the dangerous touch screen. No one asked or wanted touchscreen in a moving automobile. Tesla sold well not because of the touchscreen, but because consumers had no choice before and they had to accept that defect.
KSA deserves credit for trying to diversify away from oil production. If they try hard enough they will succeed. They should consider saving one of the charging SPACs to create a reliable competitive alternative. This will not only help Lucid but also provide a business that can go global. 500Kwh charging would be awesome.
They not trying spending money in luxury car company that loses money every time one is sold on cars you cannot use if they run out in middle of no where because need a charger to power them up lol.
There's a lot of negativity in these comments. Most likely the bulls who invested @$26-$60. I've been following them fairly closely for the last couple of years. I'm cautiously optimistic about the company. Regarding the losses, they're still bounds ahead in technology and closing down on the up front costs of operations. Even if they moved towards selling drivetrains and or other tech they could become more profitable in other areas. AMP2 starting production is bullish Even if they're selling to themselves. I bought in at $26 and sold for a profit. I bought back in at $2.50 last month and plan on the most recent news to plateau the losses. Instead of hoping for their downfall why not hope for their survival? GL Lucid
Lucid has the best technology in EV and best expertise in automotive engineering. The need fund to propel forward with a passionate CEO serious on the business. If have money for them to thrive I would do the same.
The car is out but the brand is new and it will take some time to build recognition, the car market is a very hard business. I wish lucid to be successful, i find their car good looking and if i could afford one i would definitely buy one.
The cars are beautiful, the drive statistics (range, speed) are unbelievable. If they could bring the soft-ware to the same level and configure charging straight to Superchargers that would be fantastic.
Lucid is not a low-cost car maker and it isn't a low-cost component supplier. It signed a deal to supply batteries and powertrains to struggling luxury car maker Aston Martin, who just announced it is delaying its first EV to 2026
@skierpage they should have been smarter. People that can afford it don't want high volume cars. If there company was low production (sub 5k per year), Their overhead would be significantly lowered, but ik the cost per car will have gone up a bit but keep the main business being drive train sales, and battery tech, they'd be fine. In the search for gold (in this case EV companies), the real people that get rich are the ones selling the shovels. The way tradiation companies like ford was throwing money at it, I'm sure they would be a lot more successful now
@@ThePrinceEffect if Lucid had planned to only make its current volume of cars, it would never have gone public at a high valuation. Name a new component supplier that's gotten rich from EVs. Big car companies are perfectly capable of making their own good-enough motors and assembling battery packs from Chinese or Korean cells. The dream of car companies putting their own "top hat" car body on top of a skateboard chassis provided by industry suppliers remains a dream.
I think with how much money saudi arabia has they have a potential to even surpass tesla. But maybe the team just isnt on par with tesla. Imagine if they made a charging grid as big if not bigger than tesla they would be a major player. I feel like theyre just at the beginning where they have to make big investments and hope to make their profits in the future. And saudi arabia has plenty of money to invest unless their oil dries up.
funny thing is pete hates it when people compare lucid to tesla, he sees his main competitors as mercedes-benz or audi but nobody even imagines the two are comparable
I am surprised by some who believe that Lucid is the only investment for the Public Investment Fund because its value is close to a trillion dollars and Lucid is nothing.
I don't really understand how companies can just keep pumping money into things without taking a step back and wondering how they can improve production. The model T used mass production and new assembly line systems to streamline and mass produce cars. Ford paid higher wages then most factory jobs to encourage his own employees to purchase cars. EVs need to fully standardize assembly and how to mass produce parts from the screws to the battery. Once EVs can actually mass produce and standardize and work with each other instead of just always at war for market share we wont see a more consumer friendly vehicle.
I'd argue only part of it ( but an important part) I think what hurts Lucid is that for what they're asking for their vehicles, one can purchase an excellent, high performance ICE vehicle. If it came down to a Lucid or a nicely appointed Porsche, BMW, or Mercedes I'd choose one of the latter.
TBH if you are spending 6 figures on an EV you probably don't care that much about how good the free charging is, which you won't even use unless you are going on a road trip. The depreciation is the real issue.
@@weirdshibainu rich people can afford to do the right thing and not burn fossil fuel. Lucid's bigger problem is by the time the Air started delivery there were credible luxury EV sedan alternatives including thr Porsche Taycan and Mercedes EQS, along with the Model S whose price Tesla kept lowering.
@@skierpage You think rich people really care about doing the right thing? LOL. As they fly private? Or live in houses with huge carbon footprints? I'd argue that a small percentage may be early adopters for the tech, with even a smaller percentage in the name of climate change. Neither the Taycan or the EQS are strong sellers and even in their portfolio the comparable ICE vehciles out sell the EV counterpart.
The biggest problem with Lucid is they decided to introduce a 4-door sedan as their first vehicle - in 2021! By the time they began the R&D for the Air, they should’ve known the market was already trending towards SUVs and CUVs. My guess is the Gravity will be a flop too because sales figures show the market for a luxury SUV isn’t large, without massive discounts and incentives. (See iX, EQS, Q8 e-tron) Rivian has had relative success because they’ve been able to build a fairly strong following and their vehicles attract the outdoorsy crowd - and those who generally have higher incomes and want to try something new from an EV-only company. Surprisingly for many, their vehicles are also luxurious, while primarily being known for the outdoors. Curious to see how long Lucid keeps receiving additional funding because I highly doubt the Gravity is going to save them.
Do ppl actually prefer RWD vs AWD/4WD??? I cant think of a single reason why Id ever buy a non AWD car, but I do live in a snowy/hilly area and need either AWD or 4WD or its a joke. My Tesla does pretty good in the snow tbh
This is still probably a better investment than their "line" city.
Burning stacks of $100 bills, to heat your home, is a better investment than "Line" city.
Go read the Wall Street Journal article that came out yesterday on 'The Line' if you haven't, its so much worse than you think
I think investing in a bucket of shit for profit returns, is a better investment than "The Line". I mean, what were they smoking before coming up with the worst idea this planet has ever seen, even the dinosaurs are rolling in their graves.
City or prison?
@NerreraFightStories not really. Every1 who cared already knew this shit is straight up impossible (at least not in proposed scale).
Can't get "worse than you think" if you knew its already rock bottom worst case.
Saudi Arabia is allergic to making good investments outside Saudi Aramco.
That's what happens when everyone making decisions got their jobs because their dad gave it to them
Aramco isn't really an investment, it's their source of income
lol, Aramco is a cheat code and that's the only reason it's successful.
Saudi Aramco is foreign operated and is losing money
@@shadowpat810*human cash cow
For a company called Lucid they seem to be dreaming.
😂😂😂 good one
And not lucid dreaming either
Or having Lucid Dreams 😊
@FishBola1991
Such a generic cookie cutter naming scheme they have.
Badum tish.
Lucid makes fine cars.They just need to figure out how to make $
It's pretty easy to make a good car if you are allowed to lose $200k per unit I would imagine. Imagine what a BMW or Porsche would look like if instead of making profit they were allowed to lose $200k per unit? They would be amazing.
@@chrisbradley3224 you are comparing a start up to a 100 years old companies
How dio the old big OEMs profit of the century of knowing how to bend steel?
Where is the mass of PROFITABLE affordable or even 'luxurious' EVs of Toyota, VW, Ford, GM, Stellantis (especially in the US)?
Without Tesla there would be even less than now!
Anyone can make good cars when you throw money at the problem
The challenge is designing and manufacturing profitably
Honestly it’s just dumb to put any money into a new ev car company.
The industry giants have woken up, they already have parts from previous cars, they aren’t building from scratch.
Tesla was a once in a generation event
Make it in China, otherwise lose $$$
"By merging with a SPAC." Take a drink!
Or SABIC
the saudi petrochemical giant company 🤷♀️
😅
@@duran9664They bought that, they didn’t build it.
JUST AS BAD A FRAUD AS DJT
It went crazy
Because not funding lucid would be an admission of making a bad investment.
Never underestimate to the power of when pride meets the sunk cost fallacy.
@@_Kittensworth Fear as well. These guys chopped up a journalist for speaking the truth about their stupid line city.
Nah, I think they got exactly what they wanted. If it was doing well, they wouldn't have been able to buy a controlling stake in it and force them to build a plant in Saudi Arabia. They needed a failing car company, and they got exactly they were aiming for.
As for whether it's a good idea to lose so much money trying to build up in industrial sector that seems destined to be eternally priced out of the market by high wages in the country, I don't know.
Middle Easterners will never admit they made a crappy investment.
Lucid is a far better car than Tesla,watch Jason camissa's video on it.if the fundamentals are good ,in long term,any investment will pay off. RUclips wasn't profitable till the 20's
I drove a Lucid Air Touring at the nearby Lucid store just last Sunday and it was really impressive. I'm waiting to drive the Gravity before ordering anything though.
i Drove a cybertruck Nice Truck
Amazing car, just a real waste to investors. I guess this is the effect of the free market.
Of course it's "impressive". It cost half a million dollars to make.
Hopefully the gravity will bring Lucid’s dreams back down to earth.
Not sure they are taking the right approach with Gravity, coming out with the more expensive version first. Their problem is lack of volume and the higher price point version may have little impact on overall sales volume. They may be afraid that the lower price SUV will undercut sedan sales.
Lucid is in this for the long haul. They have the best technology, and they will be selling premium cars all around the world. The Saudis have staying power.
The BetaMax was the best technology but the VHS format killed it off. There is more than the "best" technology. You gotta have a decent price, good production, quality and build something for which there is a market.
Max lucid should be $70k. Stop the bs cap $100k . Lucid dreaming, old fart Ford Taurus design
Elon Musk always said by far the hardest task Tesla faced was figuring out how to mass manufacture their vehicles, not designing them or making prototypes.
THAT'S NOT THE ISSUE HERE
leon Lusk is false smart guy grifter
@@matt.stevick plz don't insult papa musk
Robot commenting, same comment in all videos
@@matt.stevicklike him or not, he succeeded where everyone else is failing. He is selling cars and not losing billions
I keep asking myself the very same question. Seems like the only person getting rich is Pete rawlinson.
All the magazines said they had great cars, but they keep selling them at a loss. They said watch out for a 48,000 car.... Why are we watching out? Are we watching to see how much more money you can lose per unit???
Tesla is the only car company making a profit right now on evs in 5 or 6 years this company will be big
@@damatricrayton8942 can I sell you my stock??
Lucid seems to make great cars, but they are not cheap and the market for luxury EVs isn’t all that great. Tesla got away with using Model S sales to fund expansion of the company because back then their were the only game in town.
Quotes of "loss per car" are meaningless because they have to invest insane money just to make any car. Wheras established manufacturers already have manufacturing plants, people, suppliers, etc. Theyre not selling a 300k car for 100k. Theyre selling a 100k car while burning tons of money on "growth".
@@kaasmeester5903 Mr Rollings said to start a new car company you have to come out with the luxury models first the most expensive then you bring out the more affordable last this company is really owned by the Saudi and the cost is just a drop in the bucket to them the PIF fund has about a trillion dollars and they have enough oil to last over 200 years
Shout out to my homies who lost 'you don't even want to know' amounts of $ on Lucid and Rivian
10 puts, 3 months out
And all because of 'Elon bad'...
@@brilanto No, it's because EVs were always a much more complex and resource-intensive technology than internal combustion engine vehicles. And when you add on the extra 'tech' (as these are primarily designed by tech companies and not auto companies), these EVs are products that suffer from premature obsolescence... making them even more resource-intensive and wasteful. In addition, the shift to EVs required the building of a completely new charging infrastructure and would entail the auto repair industry to completely re-train and re-tool and, the biggest problem, would require a massive expansion of electricity grids and power generation. In reality, EVs were just a way of the upper middle class and the upper class to cosplay as environmentalists while doing absolutely nothing to reduce their extremely resource-intensive lifestyles.
@@davidc1878 specifically for US, service is essentially pert replacement regardless if it’s ice or ev, big cities have no issues with amount of charging stations, esp now that Tesla is opening up for other brands. As far as being more complex, developing ice would take start up 20 yrs and still be worse then a lot of competition. EVs opened up the market and progress for sure. I don’t see it fully replacing ice any time soon but it has its use cases
@@davidc1878 I see, you fully soaked up the OEMs' 🤡 arguments...
Batteries (even that in the cars) help to stabilize the misplanned grids and are almost fully recyclable, after their very long lifetime is exhausted - to create new batteries even cheaper along the falling price from the scaling and growing supply.
It's the combustion engines with planned obsolescence to sell more cars, parts, compulsory service [btw missing only with Teslas] to feed the greedy dealerships and Big Oil losing their profits, as renewable energy takes away the business case...
I test drove a Lucid car a while back and it’s nice but the price given what you get is ridiculous
ah, the Adam Neumann business model, suck all the money from your investors.
oyveyyy
Would you rather these idiots spend it on building pyramids in the desert?
Those stupid investor believe that conman and scammer Neumann.
Wasn't the first guy to come up with that model. William Rockefeller and Anaconda Mining company wrecked the global economy for 10 years, pumping out fake stock worth more than the vompany and its profits...
My buddy was on the lucid hype train a while back with an avg of $32/share.. I told him it was a terrible investment and he wouldn’t listen.. finally it hit around $26/share and I went over the company’s financials with him and how he should cut his losses.. he listened to me and sold and he still thanks me all the time.. we live in a pretty wild time when there’s so many different bad stocks being hyped right now..
Not as bad as the dude who lost 700 k of his dead grandmother inheritance on Intel stocks
@@gokublack316 first off that just happened yesterday,. Secondly he he didn’t lose $700k. He bought $700k worth of Intel shares yesterday and his position is down roughly -30% altho he hasn’t even sold. So if he were to actually sell today he would have realized losses of -$210k but he hasn’t.. Intel is also a solid company that has been around for a long time Meanwhile Lucid is down about -95% from the highs and is a new company that is completely unprofitable, has massive debt and is headed to bankruptcy.. and many ppl actually lost huge percentages of their position gambling on a trash stock..
Do you think Aptera will do anything? It's the new solar car...TY!!
I sold a put and used those funds to buy more shares.
If you want to make guaranteed cash open a US savings bond account.
Every equity carries 100% down side risk.
The PIF is money in the bank as exposure to an equity with what amounts to the backing of a sovereign wealth fund.
@@rednose1966 lol
I see Lucid as a battery power company. They have an innovative product with their battery design and regenerative braking tech. I see the cars as proof of concept, evidenced by their involvement in F1e. Their goal may really be to sell their tech product or license patents to other manufacturers.
Saudi would do better taking the Norwegian route. Instead of investing the sovereign wealth fund into failed projects, just invest it into a diversified portfolio of international stocks and bonds. When you saved enough, you can just live off the interest and dividends forever.
Norway's sovereign wealth fund is totally pumping the EV bubble too. They make a little money, because they aren't idiots.
Who told you Saudi didn't do that? Norwegian wealth fund also pumped some flops too, they all really aren't so different.
The Saudi knows Oil will not last forever and they need to do something, Manufacturing are labor intensive and provide jobs, just look at China, the government pumped A LOT of money into the EV sector, and they only got 1 decent EV maker out of it.
@@steak5599 except that saudis are wasting and burning at wayyy higher rate and on top saudis are 30 million
they have their own personal wealth fund invested heavily in the west from football clubs to hotels to apple to Microsoft. in case they need to flee when the oil dries up and the arab civilians start hunting them to kill them.
but they want to keep their fiefdom and to do that, they need to create a post oil economy. except they are failing miserably at it. As they are too stupid and probably killed all the smart people or tortured them to flee if not.
that's usually how idiot nepobaby rulers are.
@steak5599 I don't see Norwegians investing in such idiotic idea as a 170 km long linear city in a desert. Lol. The Saudis take bad investing to a whole new level.
I met the Saudi member that made this acquisition and they have a lot of pride for Lucid. They honestly have an unlimited budget. Although they are wanting profitability, they see the long game.
Sounds like cope. Who wants to drive a car made by desert 🐒 s.
Has no long game even tesla that sells for less which lucid is just a rip off of because it has people from tesla has a hard time to sell now because people that wanted electric cars got them already and electric suck since need special charger areas
All they have to do is rise the barrel of oil by .2 cents per day for a couple days….
Eh, no one has unlimited budget, not even the Norwegian sovereign fund
I wish them success. Lucid is an amazing car.
Why didn't you mention the latest news that the CEO's pay package in 2022 was $278 million. More than $1 million a day. Criminal! Where's the lawsuit?
He's certainly not worth that money.
You do know there are 365 days in a year?
None the less it’s still excessive.👍
Maybe they meant per working day, not per calendar day.
@@stuiley424252 recognised business days.
TIL there's fewer than 278 days in a year. I think executive pay is the least of Lucid's problems. They'd be burning tons of cash even if they didn't pay any of their execs a dime. Also have to imagine getting paid in equity in a failing business isn't all that it's cracked up to be.
They are the definition of more money than sense if they want to get into the automotive industry, they should be the destination hub for hot weather testing. They also have enough money to evolve the company into a energy company and make other avenues of green energy production more cost effective.
Or sold to Lincoln
While its bad that its not making money. Creating an industry from scratch on an unindustrialized country is super expensive. This is why most of the world ISNT industrialized.
the problem with Saudi is when oil runs out, it has to be industrialized like the west or it will end up like Yemen.
That's weird. On the website it states the losses are 227,008 per car. I've seen even higher.
That figure increases daily!
I like your analysis. Thank you for making this video.
Cheap cars, that’s what everyone wants and needs not 100k+ bricks
Yep, and make a car that looks like a normal car. Every electric car looks like some fake car from a futuristic movie set.
@@williamlangeii4012wdym model S and 3/y are some of the most mundane normal looking cars out I would even say the air isn't anything over the top
All these EV companies behave and expect to be treated like tech companies. They aren’t tech companies they are car manufacturers. It’s a really tough business, ask GM, Ford, Toyota, Honda, etc… there is a reason new car companies ,even regular ones, never last or are bought out by the big boys. You can’t make cars on a small scale and make money unless you are charging 200,000 or more. The scale just isn’t there.
Make these EVs cheaper for the masses. Trying hook in car enthusiasts with luxury EVs is a losing strategy.
You can't start off that way with new products. Every high tech product is high like the first cars, tvs, cell phones, VCRs until you reach mass production.
Starting with a high performance vehicle was a good way of justifying EVs when establishing the market. Unfortunately there is a limited market for premium EV customers. The next challenge for EV manufacturers is cost efficient production which is proving to be really difficult for many brands
No, the losing strategy is starting off trying to produce a low-cost low-margin product when you can't even make a profit on the high-cost "high margin" version.
They seem one of the EV startups that pitched themselves as following the Tesla model to investors to exist in the first place. Start in the highest end market can produce a product where the low volume you can produce as a start up might be able hit a niche to offset the high costs of early phase development. Then as you improve your internal design/production infrastructure target a wider market but still high end of vehicle market so theoretically profitable, since EVs inherently were still going to have a cost premium over ICE vehicles, even if you were not still far behind production capacity of traditional automakers. Eventually producing models most people could afford to buy, which even Tesla has arguably not gotten far enough to get price point that low, and likely either Tesla or traditional auto manufactures will likely reach that before Lucid. On top of which, even if they somehow could produce the cars at those price points, there still is not enough of the raw materials EVs need mined per year to displace the entire number of ICE vehicles sold per year. So to sell to the masses either requires increasing like a dozen materials mining capacity magnitudes of order, or developing new battery chemistries and some alternate materials for various components/structures. Which those materials probably either cost more or have disadvantages in performance, since if were cheap and effective would be the standard now.
You know what's a losing strategy? Losing money on every vehicle to sell to the masses. They would sell cheaper if they could.
Can't wait to buy the Lucid Gravity and travel with it! God damn, so spacious !!! LIKE THIS IF YOU'RE BUYING ONE!!
It is one heck of an automobile. No doubt.
I’ve been a race car driver in SCCA since the late 80s. I can assure you that literally no one (and especially not distracted tech-obsessed people) needs a 500hp car for the street (to say nothing of 1000+ hp). The weight and power levels of these electric vehicles is really concerning. What happens when a 6000lb electric sedan with insane acceleration hits a smaller normal car?
"Ride for ruin and the world ending! Deeeeeeeath!"
A big hard to extinguish fire most of the time
I mean, i was hit by a regular car from the back in a Tesla. Nothing happened to me except the bumper being damaged. The other car was wrecked and needed to be towed..Idk if its good or not but i can definitely say an EV saved my life.
Plaid driver here: the Plaid is the safest sedan ever built, and the 0-60 is not only insanely fun, but has gotten me out of a hairy situations caused by distracted drivers more than once. Most amazing car ever built. I also drove the Lucid Grand Touring and was underwhelmed by the tech, and, believe it or not, the interior.
The same thing that happens when a 6000lb gasoline SUV without insane acceleration hits a smaller normal car.
Thank you for the informative video. I thought I knew the Lucid story but I learnt from this, including that Lucid built a plant in SA.
I made a killing on the SPAC, almost a 5x on my money. I seen the $87 Billlion MC for IPO and fired in my profit, got smashed for 85% loss. Loved the car and ideology, but the company screwed the numbers and Wall street over valued IPO
Lmao “ideology”
No wonder they swindled you
Well, it's not as stupid as the Line... or the Mukaab... or Oxagon... or...
Mukaab isn't really stupid
doors not closing and squeaky steering wheels to be expected from a new car company ? no its not to be expected for the price they are asking it should be immaculate.
I heard so many the next tesla and yet haven't heard one that's not losing money let alone profitable.
Oh damn, why are they failing?
"Merge with a SPAC"
ah, nvm
The SPAC is the symptom, not the cause. They have to merge with a SPAC because the business is such dog shit they couldn't pull off a traditional IPO. And the whole reason they wanted to go public was to get another big pile of investor cash to burn.
Dealership near me has had one in stock for over a year now. They keep dropping the price but no bite
Interesting article.
Some good points here.
You really missed a big one.
So far the product is 100% on target.
If they can deliver on gravity the quality they have on air in 2025, and then in 2026/7 on an affordable sedan, they look very promising. It’s a long game, but those deep pockets set them up for success.
I test drove a Lucid when I was shopping for a premium EV. It is not a good car for the price:
1. The ride was very hard for a car at this - it does not have air suspension
2. The apple carplay integration is terrible
3. The automatic lane keeping is glitchy
I ended up getting an EQS, which is much better in every way, for the price point.
LOL apple carplay is a deal breaker?
Your four criticisms of the Lucid Air sound valid, but the EQS is less efficient and has less range and is less powerful. Enjoy your EV.
Apparently Mercedes can’t sell any EQS models and they just sit on the lots.
@@Passions
Car software is a central part of the experience
Honestly would rather get a Tesla than an EQS. The EQS is Mercedes first attempt at EVs and it's lacking- great looking car, bad at everything else.
$200K/car loss ?
What are they doing?
Paying the ceo 1 mil per day apparently.
Great analysis. Thank you! 🙌🏾
Saudi has made a sound investment in lucid. They should be able to get an ROI in approx one trillion years
A comment motivated by racism 👏
great analysis ! thank you
Whoever decided on this investment was definitely lucid dreaming.
I remember when Lucid brand was announced back 2016, but I haven't heard anything from them since then.
I actually did a lot of business with them when relating to their large facility in Arizona. It’s crazy how much money they put into that.
Why is Saudi Arabia investing in electric cars? You'd think that would be against their best interest since the biggest reason they have $100 BILLION in cash is bc of gasoline powered vehicles. Also, why can't anybody make an electric car with style? They all look alike. And why isn't there any companies working on solar power batteries for these vehicles? There has to be some connection to electric companies, no?
You do know that Tesla will be happy to cover your roof with solar panels to charge your EV (for a price) do you not? A car that has the solar charger built in just won't work, there's not enough surface area on a car.
Go watch Jason Cammisa’s review of the Lucid Air. Many reasons the company is floundering, but a subpar product is not one of them.
Seems like if Saudi Arabia didnt have oil it would have the investment misfortune of a country like Albania
If the Saudis didn't have oil you would know nothing of them because they wouldn't even be able to make headlines even if they launched a terror campaign
It's like Cathie Wood but with oil money.
Like Yemen or Afghanistan
Albania is a modern paradise compared to what Saudi Arabia would be without the oil.
@@peterfireflylund Oil is not the only factor, there are many countries that have it, the main factor is proper management
At 4:15, what version of the model S are you comparing to the lucid?
You definitely have to be much clearer if you're going to draw comparisons on specifications, because there is a model S that has much better specifications than you have provided
Someone is sleeping with the prince. Literally the only explanation I can think of..
Or, the real goal NEVER the profit, but influence 🤏 The saudi royal mafia bought sporting teams & entities & lost billions on them only to sport wash & use them to pay indirect bribes 🤷♀️
Not necessarily. An earlier ruler once threw away a truckload of silver at a random construction worker who did a hilarious stunt. That construction worker was Mohammed Bin Laden.
why USA citizens think about sex more than success?
@@samsonsoturian6013that's not true. what is it with west and constantly lying about Muslims.
bin laden comes from a massively rich construction family. they have been rich since the kingdom started selling oil. well before bin laden himself was born.
Yeah, there has to be ass involved somewhere in this story
LUCID was in the new Beverly Hills Cop movie it was a nice shot of a LUCID building and Car! Pretty sure theyre gonna go far the morals and principles of the individuals who run the company are what i looked at in the beginning of 2023
If you have so much money you really don't care what it's spent on, something will eventually be profitable!
or you'll see how quickly all these investments go bankrupt once their oil dries up.
6-7 billion for a country like Saudi Arabia is peanuts!! So they can still do it for another 10 years (if they want to).
But it, lost optunity cost, that money could have been spent on something profitable and that oil money is not going to last for ever
@@zenastronomyOil is not going to dry up in next 40 years
@@Hasanaljadid but demand might
I think this car is the most beautiful and highly advanced car I’ve ever seen. Kudos to the people lucid for creating a work of art.
I like the way the lucid air dream looks. I would want one but way too high price. Also i dont see myself buying any new car anytime soon.
Aside from Tesla ALL the small EV makers will be out of business by the end of decade....just like Rambler, Hudson, Packard, from the old days when GM, Ford, and Chrysler put them out of business.
lucid is a genuinely baffling company and it'd be fascinating if someone ever dissected why nothing ever seems to go right for them. they just lost dan bell as head of software, a guy who worked on the original iphone and ran intel's mobile division, because after 3 years he couldn't fix the dysfunction in their software team. you can almost see apple HQ from their office but it took them 2 years to get carplay working. they're a startup but the code running in those cars now is directly descended from junk slapped together for demos of those 2016 prototypes. shutting them down is almost a mercy, but the saudis keep it going for reasons nobody understands. just a complete mystery.
Do you think Apple should buy them out?
@@richseng this year apple cut their losses on their long running and expensive car programme so id say zero chance they would buy a EV company that is losing even more than they did on their own
@@richseng This is a viable option and wouldnt be awful for Apple. I believe they had an autonomous car project that they shut down. Apple really should get into the car biz. There are ppl who will be loyal to apple regardless of what the product is, and cars are about as big as you get w manufactured products in USA
@@m.o.n.d.e.g.r.e.e.n Well, as Elon said, building a car company is HARD, and if Lucid already did 85% of the work, and Apple could buy up the infrastructure & capacity at 10 cents on the dollar, it could/would make sense if they put the right team together... and they would, as many of the best engineers worldwide would rush in to help make it happen. I think it could be a coup for Apple, instead of them just buying back their own shares. Steve Jobs would go for it. The challenge would be a drug that every shareholder would get to hit on.
5:15 Incorrect. You have the 2023 Lucid Pure pricing but the 2024 Lucid Pure performance numbers. 2024 went from AWD to RWD
Not sure how much money the Saudis have, but given that Softbank lit a bunch of their money on fire, it seems to me that they need to make a very decisive and large scale move into the ev/hybrid industry. I don't think it is through Lucid because they need to make cars for the everyday person. That's how you cement yourself as a global, reputable, recognizable auto producer. Luxury cars only appeal to the wealthy, which will pigeonhole their growth. You can also make way more money. They need to be competing directly with Toyota, and they will only have the exorbitant capital to do it for a limited time. That's my take, anyway.
They have really solid tech and now need to scale. Scaling takes a lot of runway and capital. If allowed the time to scale, I think they will be successful.
Lucid needs to make cheaper cars at 70k per car- people will buy
Thanks for not doing your "preview of what will be discussed" and just making a video. One of my biggest issues with a few of my favorite channels is the preview, but thankfully I can fast forward 3 unnecessary minutes. great work as always
Agree
I think this shows just what Tesla and other EV makers are up against. The Auto industry is not only incredibly competitive, as this weren't enough. It's also driven by governments which don't care about losing a fuckton of money per car sold. Lucid is not real player on the car market, they're a tool for building a future Saudi Arabia when the oil cashflow dries up.
It's no fun to compete against such a tool.
Lucia’s biggest problem is that they have seriously overestimated how many people want, or can even afford a $100K+ car. If they’d come out with a $30K car, they’d be crushing it.
Apple also spend 10b on an ev project with 0 revenue...
Facts, lucid will succeed
Good tech but poor mgmt & vision! #1 problem was focusing on sedans which are declining in popularity. Sure, start with expensive halo sedan with immediate follow-on more affordable SUV! Why commit to so many variants of the sedan only?!
And how in the world does this CEO with no vision and poor mgmt skills & team get paid $300m+ annually?! LCID’s mktcp is $6b today so that means shareholders are paying their CEO 5%/yr of the company’s value…crazy!
Actually the reason is more then likely is Elon Musk is not well liked in Saudi Arabia and they are trying to stick it to tesla , and even Tesla is in trouble due to recent report and have had huge layoffs not even giving the employees any noticed, As a saphire owner I can Honestly say the lucid was so much better then my tesla s .
Keep lying to yourself lol
@SOLOSOLOSOLOSOLOSOLOSOLO let me guesse a tesla fan boy ,who thinks tesla are the best , sorry to burst your bubble but they are far from it , with so many issues such as car not painted properly , nothing lines up them turning off car features that are already paid for by the previous owners, trying none stop to get us early adopters to of the model S to get us to upgrade so they can get us out of lifetime free charging etc,My lucid has had zero issues so far but if I had a choice I really wish in North America they would realize that what BYD and NIO are doing with the possibility of swappable batteries would be a much smarter route. Yes My lucid is expensive but honestly in the long run was a better choice , as it does the job of 3 cars Great for my job ,fun to race and huge on the inside to show my clients there future home also its a right off
lucid is tesla both made by same people tesla workers working at lucid only difference between the two is price because lucid needs to charge more to pay for costs due to less sales.
I never expected that sales of Lucid vehicles were that low. Image is everything and they hid it well. Wow.
Makes more sense than to burn 44billion on Twitter.
Worth it
Xchan
What is needed is a battery the size, weight and energy density of, say, a 14 gallon tank of petrol. About 450-500KW-h. And take 5 min or less to charge to at least 80%. Imho, until that's achieved, electric cars will remain too expensive to make and too heavy to be engaging driving tools.
Saudi Arabia signed an agreement with Lucid to buy 100,000 current and future models over a ten year period. They are going long-term!
Fake pre-order...
70k for a base model is too much for a no name brand.
The 70k Lucid is better than the Tesla Model S, 15 miles longer range, much better built quality, better looking while being 5 grand cheaper. Plus it comes with $2,000 charging credit though incentives I believe
It needs to be 20-35k €
@@PrivilegedWhiteMalethey both have crap build quality 😂
When they lose 200k per vehicle, it wouldn’t matter that much to sell it cheaper…
@@philthechiller7026 It does matter how much the production costs are. ^^
Only ONE winner being Peter. Never ever there will be an automotive industry in Saudi. Too expensive, a local workforce which is just lazy, too warm/restrictive to have a decent life for a quality foreigner.
Took toyota 1 minute to fo the analysis but 2 years to explain says it all .
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I've always wondering this very question. I mean there have good technology but they need to start mass producing cheaper vehicles in the 40-50k price range
Comments that say "First" sucks.
Indeed
“Suck” - just fyi.
Nope means they are a big fan that they click immediately when the notification comes. Ciao lol
First
Just like your mom
Their major problem is the over reliant on the dangerous touch screen. No one asked or wanted touchscreen in a moving automobile. Tesla sold well not because of the touchscreen, but because consumers had no choice before and they had to accept that defect.
KSA deserves credit for trying to diversify away from oil production. If they try hard enough they will succeed. They should consider saving one of the charging SPACs to create a reliable competitive alternative. This will not only help Lucid but also provide a business that can go global. 500Kwh charging would be awesome.
They not trying spending money in luxury car company that loses money every time one is sold
on cars you cannot use if they run out in middle of no where because need a charger to power them up lol.
There's a lot of negativity in these comments. Most likely the bulls who invested @$26-$60. I've been following them fairly closely for the last couple of years. I'm cautiously optimistic about the company. Regarding the losses, they're still bounds ahead in technology and closing down on the up front costs of operations. Even if they moved towards selling drivetrains and or other tech they could become more profitable in other areas. AMP2 starting production is bullish Even if they're selling to themselves. I bought in at $26 and sold for a profit. I bought back in at $2.50 last month and plan on the most recent news to plateau the losses. Instead of hoping for their downfall why not hope for their survival? GL Lucid
Infinite bailouts = bullish
Facts 🎉😂 any problem can be solved with enough cash 🤑
Coming from nothing and entering the luxury market is definitely a bad business idea unless you have a bottomless pit of money and have the patience
Lucid has the best technology in EV and best expertise in automotive engineering.
The need fund to propel forward with a passionate CEO serious on the business.
If have money for them to thrive I would do the same.
Very good report, thanks!
This is basically like tesla 10 years ago..
It is actually much more beautiful than Tesla, if you saw it on the street you would immediately admire it as if it were a car from the future
Even 100 billion for this project would be a better investment than just letting their unrefined plastic be burnt as petroleum.
this is a testament to tesla. making EVs at scale from scratch is not easy
Took them 12 years to make a profit. Musk was begging Apple and Saudi to buy them out. " funding secured"
"Merging to form a SPAC" famous last words
The car is out but the brand is new and it will take some time to build recognition, the car market is a very hard business. I wish lucid to be successful, i find their car good looking and if i could afford one i would definitely buy one.
The cars are beautiful, the drive statistics (range, speed) are unbelievable. If they could bring the soft-ware to the same level and configure charging straight to Superchargers that would be fantastic.
Where do you have this 114 mph for the Model S from?
yeah google search says 149mph
Honestly lucid could have been very successful if they sold there drivetrain. High HP and best range. Thats a game changer if the cars were cheaper.
Lucid is not a low-cost car maker and it isn't a low-cost component supplier. It signed a deal to supply batteries and powertrains to struggling luxury car maker Aston Martin, who just announced it is delaying its first EV to 2026
@skierpage they should have been smarter. People that can afford it don't want high volume cars. If there company was low production (sub 5k per year), Their overhead would be significantly lowered, but ik the cost per car will have gone up a bit but keep the main business being drive train sales, and battery tech, they'd be fine. In the search for gold (in this case EV companies), the real people that get rich are the ones selling the shovels. The way tradiation companies like ford was throwing money at it, I'm sure they would be a lot more successful now
@@ThePrinceEffect if Lucid had planned to only make its current volume of cars, it would never have gone public at a high valuation.
Name a new component supplier that's gotten rich from EVs. Big car companies are perfectly capable of making their own good-enough motors and assembling battery packs from Chinese or Korean cells. The dream of car companies putting their own "top hat" car body on top of a skateboard chassis provided by industry suppliers remains a dream.
Never forget about Jamal khashoggi!
😂😂😂😂😂
After Biden famous fist bump with MBS👊, it was totally over 😒
Quit spamming that. The Saudis do frivolous murders all the time. One Bedouin was killed just because he refused to leave when evicted
Or Jeffery Epstein, the Boeing whistleblowers etc etc
Saudi Prince MBS aka Mohammed Bone Saw runs therepressive autocratic corrupt country.
I think with how much money saudi arabia has they have a potential to even surpass tesla. But maybe the team just isnt on par with tesla. Imagine if they made a charging grid as big if not bigger than tesla they would be a major player. I feel like theyre just at the beginning where they have to make big investments and hope to make their profits in the future. And saudi arabia has plenty of money to invest unless their oil dries up.
The fact of the matter is Lucid makes insanely better cars than Tesla. They deserve to succeed.
If you believe this, you should buy their stock.
Define better. Certainly not on value.
Is that suppose to be a joke?
Betamax was technically better than VHS.....which one succeeded?
funny thing is pete hates it when people compare lucid to tesla, he sees his main competitors as mercedes-benz or audi but nobody even imagines the two are comparable
I'm sorry... $8 million of losses *per day?*
Why would manufacturer a car in America ? What are the benefits of it seems like it would cheaper & easy to do it somewhere else … pls inform me
I am surprised by some who believe that Lucid is the only investment for the Public Investment Fund because its value is close to a trillion dollars and Lucid is nothing.
Ok Jared to.
When a company or a country just owned another company the another company will suffer for a little time this is normal.
At least its still better investment then Line lmao
🤣🤣🤣🤣 u r so nasty 🤣🤣
😊😅😅😅
I don't really understand how companies can just keep pumping money into things without taking a step back and wondering how they can improve production. The model T used mass production and new assembly line systems to streamline and mass produce cars. Ford paid higher wages then most factory jobs to encourage his own employees to purchase cars. EVs need to fully standardize assembly and how to mass produce parts from the screws to the battery. Once EVs can actually mass produce and standardize and work with each other instead of just always at war for market share we wont see a more consumer friendly vehicle.
Lage investment in a brand called "looz-it" sounds like a great idea!
Why not start with a hybrid car instead of a ev it just seems like a uphill battle being that the the infrastructure isn’t there
The charging part is a real deal breaker.
I'd argue only part of it ( but an important part) I think what hurts Lucid is that for what they're asking for their vehicles, one can purchase an excellent, high performance ICE vehicle. If it came down to a Lucid or a nicely appointed Porsche, BMW, or Mercedes I'd choose one of the latter.
TBH if you are spending 6 figures on an EV you probably don't care that much about how good the free charging is, which you won't even use unless you are going on a road trip. The depreciation is the real issue.
@@weirdshibainu rich people can afford to do the right thing and not burn fossil fuel. Lucid's bigger problem is by the time the Air started delivery there were credible luxury EV sedan alternatives including thr Porsche Taycan and Mercedes EQS, along with the Model S whose price Tesla kept lowering.
@@skierpage You think rich people really care about doing the right thing? LOL. As they fly private? Or live in houses with huge carbon footprints? I'd argue that a small percentage may be early adopters for the tech, with even a smaller percentage in the name of climate change. Neither the Taycan or the EQS are strong sellers and even in their portfolio the comparable ICE vehciles out sell the EV counterpart.
@@bubba99009 I think most people that buy these could care less about depreciation. They lease.
The biggest problem with Lucid is they decided to introduce a 4-door sedan as their first vehicle - in 2021! By the time they began the R&D for the Air, they should’ve known the market was already trending towards SUVs and CUVs. My guess is the Gravity will be a flop too because sales figures show the market for a luxury SUV isn’t large, without massive discounts and incentives. (See iX, EQS, Q8 e-tron) Rivian has had relative success because they’ve been able to build a fairly strong following and their vehicles attract the outdoorsy crowd - and those who generally have higher incomes and want to try something new from an EV-only company. Surprisingly for many, their vehicles are also luxurious, while primarily being known for the outdoors. Curious to see how long Lucid keeps receiving additional funding because I highly doubt the Gravity is going to save them.
Do ppl actually prefer RWD vs AWD/4WD??? I cant think of a single reason why Id ever buy a non AWD car, but I do live in a snowy/hilly area and need either AWD or 4WD or its a joke. My Tesla does pretty good in the snow tbh