Core Insights - Lucid Group, Inc. has announced key organizational changes aimed at accelerating growth, streamlining decision-making, and enhancing accountability as it scales globally [1][2]. Organizational Changes - Marnie Levergood has been appointed as Senior Vice President, Quality, to ensure high standards of quality and craftsmanship in vehicle production [1]. - Emad Dlala has been promoted to Senior Vice President, Engineering and Digital, overseeing all product development functions, including vehicle engineering and software [5]. - Erwin Raphael has been elevated to Senior Vice President, Revenue, with expanded responsibilities for global sales and service operations [5]. - Eric Bach, Senior Vice President of Product and Chief Engineer, has departed the company after a decade of service [2]. Strategic Objectives - The organizational changes are intended to drive faster innovation and stronger execution, particularly as the company prepares to launch the Lucid Gravity and its Midsize platform [2]. - Leadership changes are expected to enhance technology excellence, improve software quality, manage costs, and ensure projects remain on schedule [2]. Company Overview - Lucid Group is a Silicon Valley-based technology company focused on creating advanced electric vehicles, including the award-winning Lucid Air and Lucid Gravity SUV [3]. - The company assembles its vehicles in vertically integrated factories located in Arizona and Saudi Arabia, emphasizing industry-leading technology and innovations [3].

Core Insights - Lucid Group, Inc. has announced a collaboration with NBA stars Jalen Brunson and Josh Hart to enhance its marketing campaign, which emphasizes a commitment to excellence and innovation [1][2][3] - The campaign will launch with prominent advertisements and social media activations coinciding with the New York Knicks' home opener on October 22 [1][2] - The partnership aims to connect Lucid's brand with cultural moments in sports, fashion, music, and film, reinforcing its mission of uncompromising quality [2][3] Company Overview - Lucid Group is a technology company based in Silicon Valley, focused on producing advanced electric vehicles (EVs) [4] - The company’s flagship models, the Lucid Air and Lucid Gravity, are noted for their high performance, sophisticated design, and energy efficiency [4] - Lucid operates a vertically integrated factory in Arizona for vehicle assembly, showcasing its commitment to innovation in EV technology [4]

Core Concept - The Lucid Gravity X concept aims to redefine the capabilities of SUVs, focusing on both on-road and off-road performance, built on the foundation of the Lucid Gravity [1][2] Vehicle Features - The Lucid Gravity X is designed for adventure, featuring enhanced trail performance with a widened track, lifted ride height, custom wheels with all-terrain tires, and protective skid plates [2] - The vehicle's exterior includes bold orange accents, a rugged satin paint finish, and brushed metal fascias, enhancing its aesthetic appeal [3] - Topographical maps of iconic California locations are etched onto the hood, and unique sill plates feature coordinates marking its debut [4] Company Overview - Lucid Group, based in Silicon Valley, focuses on creating advanced electric vehicles (EVs) with best-in-class performance and energy efficiency, assembling vehicles in a vertically integrated factory in Arizona [5]

Financial Data and Key Metrics Changes - The company reported revenue of $259 million in Q2 2025, a 29% increase year over year [31] - Vehicle deliveries reached 3,309 units, up 38% year over year, marking the sixth consecutive quarter of record deliveries [5][31] - Gross margin for the quarter was negative 105%, primarily due to a $54 million impact from tariffs, which accounted for a 21 percentage point decrease in gross margin [32] - Adjusted EBITDA was negative $632 million, down 12%, driven mainly by gross margin pressure [33] - The company ended the quarter with $3.6 billion in cash and investments, and total liquidity of $4.86 billion [34] Business Line Data and Key Metrics Changes - The company produced 3,863 vehicles in Q2 2025, an 83% increase year over year [5][31] - The Lucid Gravity is expected to be the majority of deliveries in the second half of the year, with production ramping up [63] Market Data and Key Metrics Changes - The company is navigating a volatile market environment, with ongoing challenges in the AAV sector, particularly in supply chain [31][34] - The company has updated its annual production guidance to a range of 18,000 to 20,000 vehicles for 2025 [37] Company Strategy and Development Direction - The company is focused on operational discipline, building a distinctive scalable brand, and maintaining a sustainable edge through technology [11] - A partnership with Uber was announced, involving a $300 million investment to support the development of a next-generation premium robotaxi [7][29] - The company plans to implement a one-for-ten reverse stock split to ensure equity remains accessible to institutional investors [30] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges in production due to supply chain issues but expressed confidence in overcoming these obstacles [12][14] - The company is committed to building a robust supply chain and making strategic decisions for long-term success [26][38] - Management remains optimistic about the future of EVs and expects normalization in demand over the coming years [47] Other Important Information - The company is actively pursuing partnerships beyond traditional sales, indicating a shift towards monetizing technology through licensing deals [9][58] - The company has secured a preliminary agreement with GraphiteOne to source graphite domestically, beginning in 2028 [15] Q&A Session Summary Question: How many current Gravity orders are there? - The company does not disclose specific order numbers but noted a high conversion rate once customers experience the vehicle [40] Question: Is the midsize platform still on target for production in late 2026? - Yes, production is still scheduled for late 2026, with deliveries expected to ramp up throughout 2027 [41] Question: How will the partnership with Uber aid in company growth? - The partnership is seen as an entry into a large market and validates Lucid's scalable platform [43] Question: Should we expect any changes to the midsize initial ASPs as they ramp up? - There are no plans to change the ASP of the midsize platform [45][47] Question: Can you provide an update on the Atlas powertrain? - The Atlas powertrain is on track, targeting the same efficiency at a lower cost [58] Question: How much of the inventory write-downs is attributable to tariffs? - The tariff impact in Q2 was approximately $55 million, with expectations for reimbursements later in the year [78]