We are supported by readers, when you click & purchase through links on our site we earn affiliate commission. Learn more.

Lucid Group (LCID) Begins Changing Reservations Into Orders, Pledges To Ship 520 Lucid Air Dream Version EVs

Lucid Group (NASDAQ:LCID) seems to be nearing the official launch of its ultra-luxury Air EV, as evidenced by the corporate’s readiness to now begin changing reservations into official orders.

As per a blog post printed moments in the past on its web site, Lucid Group is now reaching out to the Air Dream Version reservation holders throughout North America so as to safe order affirmation and remaining configuration of the builds.

The Evergrande Saga Will Add a Sizable Threat Premium to NIO Shares and Different US-Listed Chinese language Shares

Crucially, so as to have a good time the EV’s record-breaking EPA vary of 520 miles, Lucid Group has now pledged to ship 520 Dream Version models to reservation holders on the waitlist:

“To have a good time our record-breaking, EPA official 520-mile vary achievement — we’re rising whole manufacturing of the fully-reserved Dream Version to 520 autos. This implies we’ll be capable of customized construct and ship the world’s most superior luxurious EV to a restricted variety of prospects on the Dream Version waitlist.”

Keep in mind that the EPA vary estimate for Lucid Air Dream Version (19-inch wheel) now computes at 520 miles. For reference, a 2021 Tesla (NASDAQ:TSLA) Mannequin S Lengthy Vary has an EPA estimate of 405 miles. Which means the top-of-the-line Air EV will present over 28 % extra driving vary than a fully-spec’d Mannequin S.

In fact, the following huge catalyst for Lucid Group bulls will arrive subsequent week when the corporate is slated to carry a collection of manufacturing preview occasions on the Arizona manufacturing facility.

We had famous earlier this week that Lucid Group seems to have registered round 10,000 Car Identification Numbers (VINs), equivalent to the roughly 10K reservations for the Lucid Air EV. This improvement provides confidence to the prognosis that the deliveries of the Air EV at the moment are slated to start quickly.

As a refresher, Lucid Group expects to ship a minimum of 20K models to the North American and EMEA markets in 2022, with deliveries to China commencing solely in 2023. Moreover, the Lucid Gravity SUV is now slated to launch in H2 2023. In one other main improvement, Saudi Arabia’s Requirements and Metrology Authority has now indicated that the EV producer would possible start its electrical automobile manufacturing line within the Kingdom by 2024. This is smart because the Saudi PIF stays one of many largest buyers in Lucid Group.