Why Does Saudi Arabia Keep Bailing Out Lucid?
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- Опубликовано: 16 июн 2024
- Lucid Motors is an electric vehicle start-up that went public by merging with a SPAC in 2021. Their vehicle sales have massively underperformed expectations and they're losing money at an alarming rate. Despite this, the Saudi Arabian sovereign wealth fund continues to pump billions of dollars into the company.
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0:00 - 1:38 Intro
1:39 - 7:40 Lucid Motors
7:41 Saudi Arabia 
Кино
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.
"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
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 $$$
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...
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...
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
@@MatthewMS. plz don't insult papa musk
Robot commenting, same comment in all videos
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
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.
Probably a sunken cost fallacy
Theyre doing exactly what they said they would do. Investing for their future outside of oil, including domestic manufacturing
I am unsure if Japanese carmakers were subsidieced however the japanese market was protect so they could catch up.
It's not that bad of an investment tbh. They're gaining experience in a future sub section of the car industry. Very smart move. Even if they fail, they will have learned a lot as well as established some if the infrastructure needed for this sector to thrive.
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.
I like your analysis. Thank you for making this video.
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 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
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.
Well, it's not as stupid as the Line... or the Mukaab... or Oxagon... or...
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.
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.
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..
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.
I remember when Lucid brand was announced back 2016, but I haven't heard anything from them since then.
Very good report, thanks!
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
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.
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
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
That's weird. On the website it states the losses are 227,008 per car. I've seen even higher.
That figure increases daily!
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
Dealership near me has had one in stock for over a year now. They keep dropping the price but no bite
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.
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.
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 never expected that sales of Lucid vehicles were that low. Image is everything and they hid it well. Wow.
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.
$200K/car loss ?
What are they doing?
Paying the ceo 1 mil per day apparently.
Where do you have this 114 mph for the Model S from?
yeah google search says 149mph
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
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
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.
Makes more sense than to burn 44billion on Twitter.
Worth it
Xchan
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.
They just opened a new showroom in Old Town Pasadena.
I wonder will local Saudis work inside those factories. The works in to automobile will likely be mostly filled by migrant workers
We will bring you to work in our factories and we only give you orders and you have to say (yes sir)😂😂😂😂
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. ^^
Please do a similar thorough analysis on Rivian!
I like the look. It's a pity it isn't doing well.
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
Whoever decided on this investment was definitely lucid dreaming.
rolls royes used to have the same problem when it started in the UK .. and it still exists
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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 was in Riyadh last year. Didn’t see a single Lucid.
not bad info. good video
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.
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.
"Merging to form a SPAC" famous last words
So is it a buy or garbage?
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.
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...
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.
When a company or a country just owned another company the another company will suffer for a little time this is normal.
Apple also spend 10b on an ev project with 0 revenue...
At least its still better investment then Line lmao
🤣🤣🤣🤣 u r so nasty 🤣🤣
tks MBS
I sure hope they hold on. They make a great vehicle.
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.
I'm sorry... $8 million of losses *per day?*
Even 100 billion for this project would be a better investment than just letting their unrefined plastic be burnt as petroleum.
How fast it charges
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.
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.
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.
Losing over $300,000 per car the most recent quarter…
Lage investment in a brand called "looz-it" sounds like a great idea!
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.
They should invest in Aptera. The car form factor is transitionary.
and now Aptera went to the UAE begging for investments in April, apparently taking money from an area of the world with some of the worst human rights issues is acceptable if state your saving the environment
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.
They want to create domestic industries in anticipation of oil becoming irrelevant or collapsing due to whatever reason. The issue is that they suck at management of companies because all they know is oil. It could be fixed, but I highly doubt a corrupt autocracy can do it. Especially the Saudis.
Not to mention all the inherited difficulties of try to operate industries in a desert with a limited customer baces.
You can drive any speed you want in parts of Montana.
At least they are keeping an incredibly interesting company alive. They truly are the best electric vehicles made.
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"
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
They should build charging network. That at least will be in line with initial energy supply business of sa
It they can fully build the car there and sell it for a good price it would be a great investment because cars are too expensive in the Middle East.
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.
Maybe Peter Rawlinson is a better Used Car Salesman than Henrik Fisker?🤔
Why doesn't Saudi Arabia just pay existing car brands to be an assembly/testing hub for the region?
They don't even have a labor force which is their real problem. I guess their native workforce doesn't care much for working because all the work is done by Indians and other foreigners, who are brought in and held hostage until their contracts are up. So what would even be the point of building any manufacturing in the country when they'd have to import the workers anyway? And what kind of manufacturer would want to be associated with that kind of labor practice?
Standard model S top speed is 130mph. And only $72k
Let's see. A Lexus LS 500h or this thing in the same price range.
These things are good and probably drive way better than the way the boring ass Lexus. The problem for Lucid is they are good deals for you and not for them, since they lose tons of money on every unit.
@@chrisbradley3224 Yeah, nah. LMAO!
A Lexus burns through tons of dirty fossil fuel in operation. Next!
Toyota 2022 announcement: "Lexus to go all-electric in Europe and North America by 2030." Toyota knows where the future lies, but it's way behind.
@@skierpage cry more! 🤣🤣🤣
I'm a financial analyst working in a third world country. When money is thrown at something that don't make sense, the answer is most likely money laundering
Can you provide an example explaining the process involved?
He is called a Prince, but he is really a King. He already owns all the money in the country. No need for laundering when he can take it for himself. However, a smart king knows, if the whole nation goes under, so does his kingdom. Unfortunately, he is so rich, he only knows how to think about things that amuse him. Hence, the endless billionaire islands, sky scrapers, and massive money projects. He is building top/down.
I can see the appeal, from a certain point of view. If they have a ton of money but are worried that they'll no longer be able to trade with other countries for any reason, having a domestic production is very enticing. Granted, that's not what they have, but they could theoretically get there and the sunk cost fallacy probably plays a role as well.
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.
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?
@@Chris-oz9qxinternet
There aren't many problems that can't be solved with more money!
This is basically like tesla 10 years ago..
For a luxury car, it looks kinda cheap, no sexy body lines, even the name sounds like an apple product.
If you're selling a luxury car, and you deliver a luxury car, the price won't be a problem, but what they have here is far from luxury.
exterior design was by the guy who did the 4th gen mazda miata and it does a reasonable job of looking like a proper boomer luxury sedan. the real problem is that nobody drives boomer luxury sedans anymore.
@@henlostinky273 the front is nice, the side view is meh, and the rear view is 1990s GM Oldsmobile/Buick.
The filthy rich want understated luxury without any opulent branding.
Only new-money peasants want opulent luxury
Man, if the Saudi prince wants to go broke, he can send me billions, I'll make them disappear 😂
You can not beat Pentagon at this game, no a single chance.
@@giacomu1 nope!
My guess is you cant burn it faster than lucid
@@SadAlonso-md6xt listen, I can try, feel free to join me in this venture, I'm sure a handful of us can dissappear billions faster than Lucid 😂
@@giacomu1i accept the challenge! Just send me the money and you will see 😂😂