Core Viewpoint - The demand for electric vehicles (EVs) in the U.S. and Europe is showing signs of significant slowdown, as indicated by the CEO of Lucid Group, reflecting a broader trend of cooling global EV demand despite advancements in EV technology and supply chains [1][4]. Group 1: Market Demand and Trends - The cancellation of federal tax incentives in the U.S. has led to a surge in EV purchases in Q3, but a subsequent decline in demand is expected [1][4]. - Lucid Group's CEO noted that while the company is managing backlog orders, the overall market demand is indeed slowing down [1]. - Morgan Stanley analysts downgraded the stock ratings for Lucid, Rivian, and Tesla, predicting that the "EV winter" will continue into next year [1]. Group 2: Production and Sales Goals - Lucid aims to produce approximately 18,000 electric vehicles this year, a target that remains within a reasonable range according to the interim CEO [4]. - The end of the federal tax credit of about $7,500 under the Inflation Reduction Act is seen as a pivotal moment that will likely suppress the adoption rate of EVs in the U.S. [4]. Group 3: European Market Challenges - In Europe, high energy prices, inflation, and rising living costs are negatively impacting consumer willingness to purchase new and high-priced EVs [5]. - The lack of reliable and convenient charging infrastructure is a significant barrier to EV adoption in the European market, alongside high battery costs [5].