UNITED STATES SECURITIES AND EXCHANGE COMMISSION o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39408 Lucid Group, Inc. (MARK ONE) or x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 Washington, D.C. 20549 FORM 10-Q (Exact name of registrant as specified in its charter) Delaware 85-0891392 (State or other jurisdiction ...

Produced 2,212 vehicles in Q1, excluding over 600 vehicles in transit to Saudi Arabia for factory gating Delivered 3,109 vehicles in Q1; up 58.1% compared to Q1 2024 Q1 revenue of $235.0 million GAAP net loss per share of $(0.24); non-GAAP net loss per share of $(0.20) Ended the quarter with approximately $5.76 billion in total liquidityNEWARK, Calif., May 6, 2025 /PRNewswire/ -- Lucid Group, Inc. (NASDAQ: LCID), maker of the world's most advanced electric vehicles, today announced financial results for it ...

Company Announcement - Lucid Group, Inc. announced production and delivery totals for Q1 2025 on April 2, 2025[7]. - The press release detailing these figures is attached as Exhibit 99.1[9]. - The report was signed by Taoufiq Boussaid, Chief Financial Officer, on behalf of Lucid Group, Inc.[13]. Regulatory Compliance - The report is filed under the Securities Exchange Act of 1934, indicating compliance with regulatory requirements[8]. - The company is not classified as an emerging growth company under the Securities Act of 1933[5]. - The financial statements and exhibits are not deemed "filed" for liability purposes under the Exchange Act[8]. Report Details - The address of the principal executive offices is 7373 Gateway Boulevard, Newark, CA 94560[3]. - The filing date of the report is April 2, 2025[12]. - The document includes an interactive data file as part of the exhibits[9]. - The report does not provide specific financial metrics or performance indicators in the extracted content[7].

Core Insights - Lucid Group has strengthened its executive leadership team to drive future growth and enhance its position in the electric vehicle market [1][2] Leadership Appointments - Akerho "AK" Oghoghomeh has been appointed as Senior Vice President of Marketing, bringing experience from building brands like Red Bull to enhance Lucid's marketing initiatives and global growth [2] - Jason Ryska joins as Vice President of Global Manufacturing Engineering, with over 30 years of experience in automotive manufacturing from companies like Fiat Chrysler and Ford [3] - Dr. Kay Stepper, with over 30 years in the automotive sector, has been appointed Vice President of Advanced Driver-Assistance Systems and Autonomous Driving, previously serving at Qualcomm and Bosch [4] - Adrian Price, also with over 30 years of experience, joins as Senior Vice President of Operations from Ford, focusing on production ramp-up and manufacturing efficiencies [5] - Erwin Raphael, Vice President of Revenue, has extensive automotive experience and previously worked at Amazon and Genesis Motor North America [6] - Gemma Parker, Vice President of Program Management, has a background in vehicle line direction at Rivian and experience at McLaren and DRÄXLMAIER Group [7] Company Overview - Lucid Group is a technology company based in Silicon Valley, focused on creating advanced electric vehicles, including the award-winning Lucid Air and the new Lucid Gravity, known for their performance, design, and energy efficiency [8]

Summary:⚈ Lucid stock fell 6.52% ahead of earnings, prompting a revised $3 price target⚈ Cantor Fitzgerald maintains a neutral stance despite recent share decline⚈ Weak Gravity SUV sales signal deeper downturn could be aheadAhead of its upcoming May 6 earnings report, and amidst Lucid (NASDAQ: LCID) stock’s May 5 6.52% early session plunge to $2.38, Cantor Fitzgerald’s Andres Sheppard elected to revise their price target for the beleaguered electric vehicle (EV) maker.LCID stock one-week price chart. Source ...

Group 1 - Lucid has established a strategic partnership with King Abdullah University of Science and Technology (KAUST) in Saudi Arabia [1] - The partnership aims to enhance the leading position of electric vehicle technology [1] - The collaboration will focus on improving capabilities in autonomous driving and advanced driver-assistance systems (ADAS) [1]

Core Insights - Lucid Group has announced a strategic partnership with King Abdullah University of Science and Technology (KAUST) to enhance electric vehicle (EV) technology and support Saudi Arabia's vision for sustainable mobility [1][3]. Group 1: Partnership Details - The partnership aims to leverage KAUST's research capabilities and Lucid's expertise in EVs to drive innovation in areas such as advanced driver-assistance systems (ADAS) and autonomous driving (AD) [3][4]. - Lucid will gain access to KAUST's supercomputing resources, which will significantly enhance its ability to develop advanced materials, optimize vehicle efficiency, and accelerate AI training for various applications [4][5]. Group 2: Research Focus - Collaborative efforts will include the design and prototyping of next-generation components, integrating various engineering disciplines to improve vehicle performance and durability [4]. - Research will focus on high-performance materials, including metallic and polymer-based composites, heat-reflective coatings, and innovative laminates, aimed at optimizing vehicle efficiency [4]. Group 3: Company Background - Lucid Group is recognized for producing advanced electric vehicles, including the award-winning Lucid Air and the new Lucid Gravity, which are noted for their performance and energy efficiency [6]. - The company operates a vertically integrated factory in Arizona, emphasizing its commitment to innovation in the EV sector [6].

Sales Growth Expectations - Lucid is expected to experience record absolute sales growth in the coming years, with a current sales base of approximately $800 million [1] - Analysts project revenue to increase by 82% in 2025 and by another 91% in 2026, driven by several anticipated vehicle launches [1] Investment Performance - Long-term investors in Lucid have faced significant losses, with a $1,000 investment at the time of the 2021 IPO now valued at only $62 [3] - Both Lucid and Rivian went public in 2021 at high valuations, but their share prices have since dropped by over 80% [3] Sales vs. Market Expectations - Despite aggressive sales growth, with Lucid's revenue increasing by nearly 350% since going public, share prices have plummeted due to overly optimistic market expectations [5] - The high multiples at which both Lucid and Rivian were priced did not align with their actual growth, leading to a sharp decline in valuations [5] Investment Considerations - After a prolonged correction, Lucid shares may now present an attractive opportunity for new investors [6] - The historical performance of Lucid serves as a reminder that the valuation paid by investors is crucial in determining returns, regardless of the company's growth rate [6]

Core Insights - Lucid Group is positioned as a potential high-growth investment opportunity, similar to Tesla, with expectations of significant sales growth in the coming years [1][10] Company Strategy - Lucid aims to replicate Tesla's successful growth strategy, which began with high-performance vehicles and evolved to include more affordable models [2][5] - The company has launched its Air sedan and plans to introduce the Gravity SUV, expanding its vehicle lineup to compete with Tesla's offerings [6][7] Sales Growth Projections - Analysts predict Lucid's sales will grow by 82% in 2025 and 91% in 2026, leading to an overall sales increase of over 200% in the next 24 months [8] - Current annual sales for Lucid are over $800 million, but this is significantly lower than Tesla's nearly $100 billion revenue [6][8] Future Plans - By the end of 2026, Lucid plans to start production of mass-market vehicles, similar to Tesla's Model Y and Model 3, which could further enhance its growth trajectory [8] Financial Considerations - The company may need to raise additional capital through stock issuance or debt to support its growth plans, especially following the departure of its CEO [9]

Core Viewpoint - The future of transportation is increasingly leaning towards electric vehicles (EVs), with global sales on the rise, presenting investment opportunities in companies well-positioned in this sector [1] Company Summaries QuantumScape - QuantumScape is focused on developing solid-state battery technology, which promises to enhance charging time, range, safety, and energy density while reducing costs [2] - The company is ahead of schedule in its production goals, particularly with the Cobra separator process expected to enter baseline production in Q2 2025 [3] - QuantumScape has formed a partnership with Murata Manufacturing to explore ceramics production, which could accelerate the commercialization of its battery technology [4] - The company has substantial liquidity, ending Q1 with over $860 million, which is expected to last into the second half of 2028, providing a runway for its technology development [5] Lucid Group - Lucid Group has shown significant growth, delivering 3,109 vehicles in Q1, marking a 28% increase year-over-year and achieving five consecutive record quarters [7] - The company is benefiting from a shift in Tesla owners seeking alternatives, with 50% of current orders coming from former Tesla customers [8] - The upcoming launch of the Gravity SUV is anticipated to further boost deliveries, as it targets a larger market compared to the Air sedan [9]