Written by Cláudio Afonso | LinkedIn | X
The electric vehicle (EV) maker Lucid Motors will publish its financial results from the second quarter on Monday shortly after the market close at 4pm Eastern Time. The conference call with the company’s CEO and the Principal Accounting Officer will follow 90 minutes later, at 5:30pm.
The California-based company delivered 2,394 vehicles in the second quarter of the year and produced 2,110 units. This year, and according to the latest update from the management, Lucid aims to produce 9,000 vehicles.
As usual, the company has accepted questions from retail and institutional shareholders with the most upvoted ones being answered by the CEO Peter Rawlinson and by Gagan Dhingra, Lucid‘s Principal Accounting Officer.
The Q&A platform Say Technologies, used by Lucid to collect questions from retail and institutional shareholders ahead of the call, has registered the participation of 2,860 shareholders holding a total of 5.34 million shares combined.
With 1,200 votes and 3.2 million shares represented, the most voted question covers the cost cutting measures comparing Lucid to the Irvine-based EV maker Rivian.
In late May, Lucid Motors announced that was laying off 400 workers, representing about 6% saying it would “substantially complete the plan by the end of this quarter.
“Can you provide more information on what you’re doing to cut costs? For example, Rivian recently announced a 35% reduction in costs and expect to have positive gross margin in Q4. Can you share your path to positive margins?,” the shareholder asked.
The second most voted question dives into the specs of the motors developed by Lucid comparing them with the ones from competitors.
The question collected the vote from 378 shareholders that own 2 million shares.
“There are companies working on axial/radial flux motors and claiming highest torque and power density while using less materials, some claim to be production ready within 1-2 years. How does this compare to Lucid’s motors and how are you staying ahead of upcoming tech?,” the investor asked.
The third one focus on the energy storage system asking for an update on the prototypes that the company run a few years ago.
In late 2020/ early 2021, Lucid constructed a prototype of a 300-kilowatt hour stationary battery storage system at its engineering lab, as the Senior VP of Product Erich Bach told TechCrunch at the time.
“Can you give an update on progress for a retail ESS [Energy Storage System] product? Are you still running prototypes and can you provide information on their performance? “
The fourth most represented question, representing 1.8 million shares, focus on the expansion to more European markets besides Germany, The Netherlands, Norway and The Netherlands — where Lucid is active as of today.
“If and When will Lucid look to expand into Europe and the United Kingdom where there is a growing demand for Premium EV’s?,” the shareholder asked.
The fifth question focuses on the potential new deals with other automakers as rumours of a deal with Hyundai’s premium brand Genesis continue.
Lucid’s CEO Peter Rawlinson has said multiple times that the company is open to supply its technology to other companies besides the deal with Aston Martin.
“When can we expect more information regarding partnerships similar to Aston Martin? Are there other yet-to-be-announced large partnerships in the works?,” the retail shareholder questioned.
On Friday, Rawlinson shared a comparative chart showcasing the miles per gallon of gasoline-equivalent (MPGe) results of the newly launched 2025 version of the Lucid Air sedan against three key competitors: Tesla Model S, Mercedes EQS and Porsche Taycan.
In mid-July, the luxury electric vehicle (EV) maker introduced the revamped Lucid Air Pure, the most efficient production car ever created.
The 2025 version of this model has set new benchmarks, achieving an impressive 5.0 miles per kilowatt-hour (kWh) and 146 MPGe.
Written by Cláudio Afonso | LinkedIn | X
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