![]() The company is now using round numbers, but the overall volume estimates are essentially unchanged. Lucid is the future of sustainable mobility, designing luxury electric cars that further reimagines the driving experience. The previous projections had very specific volume forecasts. Luxury Electric Cars Lucid Motors Lucid is the future of sustainable mobility, designing luxury electric cars that further reimagines the driving experience. Instead of expecting to deliver precisely 577 vehicles this year, Lucid now expects to simply deliver less than 1,000. The company has now effectively reaffirmed its forecasts, with some minor adjustments. There were some recent misguided concerns that CEO Peter Rawlinson would not commit to Lucid's projections to deliver 20,000 vehicles in 2022 based on a media interview. Once that occurs, the ticker symbol will change from "CCIV" to "LCID." Reaffirming guidance The deal was initially expected to close in the second quarter, but Lucid now believes that the transaction will be completed early in the third quarter. The company has now started to test ESS prototypes, with the batteries being integrated and tested with solar panels that are currently installed at Lucid's headquarters. Lucid has plans to offer Energy Storage Systems (ESS), repurposing its batteries in the same way that Tesla does to serve the commercial, home, and utility energy storage markets. Additionally, Lucid has been aggressively hiring employees, including a new CFO, and now has over 2,000 employees in total. Those locations will be critical in building brand awareness. There are currently six Lucid stores open, and another four are preparing to open their doors within the next two months. Testing and validation are progressing well, according to Lucid. The production run for final quality validation is on schedule to kick off in June, with customer deliveries on track for the second half of the year. The company is already in pre-production and has made 74 pre-production vehicles thus far at its facility in Arizona. Lucid continues to refine its manufacturing processes to ensure high build quality. ![]() Entering the final stretch before production Those reservations, which are fully refundable, represent over $800 million in potential sales if the company can execute and deliver. When the deal was first announced in February, Lucid had around 7,500 reservations, which climbed to 8,000 by the end of that month. The nascent electric vehicle (EV) company said that total Air reservations have now topped 9,000.
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