Lucid builds a high performance Air sedan. It has won numerous awards for performance, style and range. Business Insider reported that Lucid officials were very concerned about the order cancellations that had occurred. In the third quarter, Lucid lost $530 million to his $195 million earnings. Rising raw material prices for batteries and electric motors are impacting all electric car makers, and chip shortages are disrupting production.
Rivian, which is owned by the likes of Amazon and Ford, is also struggling. Financially-strapped Lordstown Motors may not manufacture the more than 500 pickups he plans to build by the spring.
And while Rivian and Lucid aren’t in danger of running out of cash anytime soon, they should reassess the delivery part of their business.
For Lucid, there are many luxury brands with distribution networks that can offer a lot to California startups.
Lincoln’s first EV is still years away. Imagine the benefits your Lincoln dealer will get from selling Lucid Air. They will be direct EV competitors to Mercedes and Cadillac. Lincoln dealership technicians will have experience working with EVs now, not in 2025. And Lucid customers suddenly have a nationwide network of distributors, making the ownership experience much less stressful. Ford has expressed interest in working with other automakers. At one time, there was going to be a Rivian-based Lincoln. Can Toyota’s Lexus division use EVs now? What about Chrysler?