LCID

Gravity Market Launches and Customer Access

Cluster Description

Commitments to launch, price, and deliver Lucid Gravity across regions, with priority on the latest Europe debut; earlier North America milestones remain in effect unless explicitly superseded.

Commitments

• September 08, 2025: Unveil Lucid Gravity in Europe with a German premiere at IAA Munich and open orders immediately, with first European deliveries beginning early 2026.
• September 08, 2025: Announce European pricing and leasing options for Gravity Grand Touring (e.g., Germany €116,900; leasing from €1,169/month incl. VAT), with Touring pricing published and availability to follow later.
• September 08, 2025: Open orders for Gravity Grand Touring via Lucid’s website and Studios across Europe, with Gravity Touring to be made available at a later date.
• February 14, 2025: Launch Gravity Grand Touring in Canada with orders open now, starting at $134,500 CAD.
• February 14, 2025: Plan introduction of Gravity Touring in Canada in late 2025, starting at $113,500 CAD.
• November 07, 2024: Open customer orders for Gravity Grand Touring in the U.S. with production slated to start at the end of 2024, and confirm Touring production planned for late 2025.

Autonomous Robotaxi Program with Uber and Nuro

Cluster Description

End-to-end commitments to develop, manufacture, and deploy a premium robotaxi exclusively on Uber’s platform; September 2025 details reaffirm and update July–August announcements.

Commitments

• September 04, 2025: Confirm the robotaxi will be built at Lucid’s Arizona facility, operate exclusively on Uber’s platform, and is expected to first launch later next year in a major U.S. city.
• September 04, 2025: Note Uber’s deployment target of 20,000 or more Lucid vehicles over six years through the program, supported by Uber’s $300 million investment in Lucid.
• August 16, 2025: Commit to deliver a minimum of 20,000 Lucid Gravity Plus vehicles to Uber over six years following start of production targeted for late 2026.
• August 06, 2025: Reiterate late next year timing for first robotaxi vehicles and Uber’s plan to deploy a minimum of 20,000 vehicles over six years (reaffirmed and refined by September 04, 2025).
• July 17, 2025: Announce Uber’s aim to deploy 20,000+ Lucid vehicles equipped with Nuro Driver over six years, with first launch scheduled for next year in a major U.S. city, alongside multi‑hundred‑million‑dollar investments in Nuro and Lucid.

Brand and Marketing Partnerships

Cluster Description

Global brand-building initiatives centered on a multi‑year partnership with Timothée Chalamet; September campaign launch supersedes earlier previews.

Commitments

• September 04, 2025: Enter into a multi‑year partnership with Timothée Chalamet as Lucid’s first‑ever global brand ambassador and feature him in upcoming multi‑format campaign content.
• August 06, 2025: Confirm the Chalamet-led global brand campaign to launch in early September to stimulate near‑term demand and anchor the brand in popular culture (superseded by September 04, 2025 launch).
• August 05, 2025: Initiate a significant brand awareness push featuring Timothée Chalamet as first global brand ambassador to strengthen market presence.
• July 29, 2025: Establish a multi‑year partnership with Timothée Chalamet as the first Global Brand Ambassador, with the campaign premiering in early fall 2025.

Production, Guidance, and CapEx

Cluster Description

Operational targets and spending guidance for 2025, with August updates superseding earlier figures.

Commitments

• August 16, 2025: Guide 2025 capital expenditures to approximately $1.1–$1.2 billion, prioritizing high‑return programs (updates and supersedes April 30, 2025 guidance of ~$1.4 billion).
• August 06, 2025: Refine 2025 CapEx guidance to $1.1–$1.2 billion and continue disciplined prioritization of critical programs (consistent with August 16, 2025 MD&A).
• August 05, 2025: Adjust 2025 production outlook to 18,000–20,000 vehicles to reflect market conditions and execution plans (supersedes prior flat 20,000 guidance).
• May 06, 2025: Target production of approximately 20,000 vehicles in 2025 as part of Q1 commentary (superseded by August 05, 2025 update).
• February 25, 2025: Commit to producing approximately 20,000 vehicles in 2025 while improving gross margins and strengthening the balance sheet (superseded by August 05, 2025 update).
• April 30, 2025: Anticipate approximately $1.4 billion in 2025 capital expenditures to support capacity and product development (superseded by August 16, 2025 guidance).

Vehicle Technology, ADAS, and Charging

Cluster Description

Software-defined vehicle enhancements, ADAS rollouts, and charging access/architecture; later commitments expand capability and standardize features across models.

Commitments

• September 08, 2025: Make DreamDrive 2 standard across all Lucid models in conjunction with Gravity’s European debut, leveraging NVIDIA DRIVE AGX and DriveOS.
• September 08, 2025: Guarantee ongoing over‑the‑air software updates to continually enhance Lucid UX 3.0 and in‑vehicle features.
• September 08, 2025: Implement a 926‑volt architecture with a patented solution for legacy charger compatibility to enable class‑leading performance.
• September 08, 2025: Deliver peak charging enabling up to 400 kilometers in 14 minutes with up to 400 kW power and 926 V maximum voltage.
• July 22, 2025: Provide Lucid Air owners access to the Tesla Supercharger network starting July 31, 2025 via a Lucid‑approved adapter, charging up to 50 kW and gaining up to 200 miles per hour.
• July 15, 2025: Roll out Hands‑Free Drive Assist and Hands‑Free Lane Change Assist to Lucid Air via OTA on July 30, 2025, with Gravity to follow later in the year.
• June 16, 2025: Begin rollout of Android Auto compatibility to enhance the infotainment experience based on owner feedback.
• April 15, 2025: Equip 2026 Gravity with proprietary charging up to 400 kW on 1000 V equipment, adding 200 miles in under 11 minutes.
• January 28, 2025: Enable Gravity owners to access 20,000+ Tesla Superchargers without an adapter starting January 31, 2025, alongside bi‑directional charging up to 19.2 kW (80 A).
• September 08, 2025: Continue in‑house development and manufacturing of next‑gen proprietary EV technology to support performance and differentiation.

Manufacturing Footprint and Supply Chain Localization

Cluster Description

Facility expansion, international manufacturing, and domestic raw material sourcing to de‑risk supply chains; later updates consolidate and advance earlier actions.

Commitments

• August 16, 2025: Expand manufacturing footprint through Arizona facility acquisitions and ongoing integration following April 2025 employment offers to former Nikola employees.
• August 16, 2025: Continue constructing the AMP‑2 plant in Saudi Arabia with milestones set toward operational commencement and complete vehicle production.
• August 16, 2025: Optimize supply chain and manufacturing plans amidst economic uncertainties through ongoing operational improvements.
• August 16, 2025: Hire additional sales, customer service, and service center personnel to support growth and service delivery.
• August 06, 2025: Advance domestic supply chain by securing U.S. natural and synthetic graphite sourcing beginning in 2028 via Graphite One (reaffirming June 04, 2025 agreements).
• July 23, 2025: Advance domestic mineral production, expand coordination between mining and automotive sectors, and support qualification/procurement of U.S. materials under the MINAC collaboration.
• June 04, 2025: Enter multi‑year agreements for American‑sourced natural and synthetic graphite with production expected in 2028, and collaborate with Syrah Resources for natural graphite AAM starting in 2026.
• April 11, 2025: Acquire more than 884,000 square feet of former Nikola facilities in Arizona and plan to offer employment to 300+ former Nikola employees to expand manufacturing and development capacity.
• February 25, 2025: Maintain progress on establishing international manufacturing at AMP‑2 in Saudi Arabia with economic support tied to milestone completion.

Capital Markets and Balance Sheet Management

Cluster Description

Actions to strengthen liquidity, optimize capital structure, and manage share count; August 2025 reverse split execution supersedes July 2025 proxy proposals.

Commitments

• August 21, 2025: Execute a 1‑for‑10 reverse stock split effective August 29, 2025, reducing outstanding shares from ~3,072.6 million to ~307.3 million and commencing split‑adjusted trading on September 2, 2025.
• August 21, 2025: Reduce authorized common shares from 15 billion to 1.5 billion concurrent with the reverse split to align with the new share count.
• August 21, 2025: Provide cash‑in‑lieu for fractional shares and appoint Equiniti Trust Company, LLC as exchange agent, with no action required by registered stockholders.
• July 17, 2025: Present a preliminary proxy to propose a 1‑for‑10 reverse stock split subject to stockholder approval (superseded by August 21, 2025 execution).
• April 09, 2025: Close $1.1 billion of convertible senior notes due 2030 and commit to use proceeds for general corporate purposes while strengthening partnership with PIF.
• April 03, 2025: Price convertible senior notes and allocate approximately $935.6 million to repurchase ~$1,052.5 million of 2026 notes, enter capped calls (cap price $4.80), and arrange a $430 million prepaid forward with Ayar Third Investment Company.
• April 02, 2025: Announce intent to offer $1 billion in convertible senior notes due 2030 with planned capped calls, partial 2026 note repurchases, and a prepaid forward transaction (subsequently priced and closed on April 03 and April 09, 2025).
• October 18, 2024: Complete a public offering and concurrent PIF affiliate private placement raising approximately $1.67 billion to extend financial runway into 2026.

Customer Access, Retail, and Shareholder Engagement

Cluster Description

Direct-to-consumer expansion, service accessibility, partner channels, and investor Q&A initiatives to deepen engagement.

Commitments

• August 16, 2025: Continue investing in the direct‑to‑consumer sales and service model by opening additional Studios and expanding the sales force.
• May 08, 2025: Open a new Studio and Service Center in Rutherford, NJ, marking Lucid’s 43rd permanent North American location and 58th globally.
• July 02, 2025: Enable shareholders to submit and upvote questions for management on Say Technologies from July 22 to August 4, 2025 for the Q2 earnings call.
• April 02, 2025: Host shareholder Q&A via Say Technologies from April 22 to May 5, 2025 for the Q1 earnings call.
• January 06, 2025: Invite shareholder questions via Say Technologies from February 11 to February 23, 2025 ahead of the February 25, 2025 earnings call.
• October 09, 2024: Expand European market reach through a SIXT partnership adding Lucid Air to the fleet in Germany and opening new Studios and service points across Europe with 100+ mobile Service Hubs in 15 markets.
• October 14, 2024: Partner with Four Seasons to provide complimentary Lucid EVs, chauffeured house cars, and hotel charging stations to enhance sustainable guest experiences.

Leadership and Governance

Cluster Description

Board and executive actions to strengthen oversight, operational execution, and technical leadership; later appointments complement ongoing CEO transition.

Commitments

• June 05, 2025: Elect Douglas Grimm to the Board of Directors, expanding the board to eight members and adding deep automotive and manufacturing expertise.
• May 06, 2025: Strengthen the executive leadership team across marketing, manufacturing engineering, ADAS/AD, and sales/service to drive growth and efficiency.
• February 25, 2025: Initiate search for Lucid’s next CEO while focusing on Gravity production ramp, midsize platform launches, Atlas drive unit development, and aggressive cost reduction.
• February 13, 2025: Promote Emad Dlala to Senior Vice President of Powertrain to advance drive units, power electronics, and battery systems.
• January 28, 2025: Appoint Taoufiq Boussaid as Chief Financial Officer effective February 25, 2025 to align financial strategy with scaling operations and shareholder value.

Events, Concept Showcases, and Performance Demonstrations

Cluster Description

Experiential marketing and technology showcases that highlight product capabilities and broaden public engagement.

Commitments

• August 17, 2025: Unveil a new Gravity‑based concept at Pebble Beach with up to 450 miles of range, 1,828 hp, and 0–60 mph in 3.4 seconds.
• August 14, 2025: Offer public demonstration drives of Lucid Air and Gravity during Monterey Car Week from August 14–17, 2025.
• August 14, 2025: Publicly debut the trail‑ready Lucid Gravity X concept at the Pebble Beach Concours d’Elegance on August 17, 2025, showcasing off‑road capability while retaining aerodynamic design.
• July 08, 2025: Achieve a GUINNESS WORLD RECORDS title by driving 1,205 km on a single charge to demonstrate EV efficiency leadership.