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Lucid (NASDAQ: LCID) details midsize EV launch, autonomy and robotaxi push

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(Moderate)
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8-K

Rhea-AI Filing Summary

Lucid Group, Inc. used its Investor Day to outline a multi-year plan to scale its business, launch a new midsize EV platform, and move toward profitability and positive free cash flow. The midsize lineup, including the Lucid Cosmos and Lucid Earth SUVs, is engineered to start below $50,000 and target segment-leading efficiency of up to 4.5 miles per kWh, with production planned to start in late 2026.

Management reaffirmed 2026 production guidance of 25,000–27,000 vehicles and capital expenditures of $1.2–$1.4 billion, while targeting gross margin profitability and high-teens revenue in the mid-term and free cash flow positivity by the late decade. Lucid highlighted cost reductions of up to 70% per unit on the midsize platform versus current models, driven by a new Atlas drive unit, smaller batteries, simpler electronics, and more efficient manufacturing.

The company also emphasized new recurring revenue streams from software, autonomy features, services, and platform licensing, aiming for roughly $1 billion in annual non-vehicle revenue and more than $2 billion from robotaxi and other B2B partnerships by the late decade. Lucid described an autonomy roadmap from current driver-assistance features to Level 4 capabilities for both personal vehicles and robotaxis, supported by partnerships including Uber and Nuro, and framed these initiatives as central to its strategy to expand its addressable market to more than $700 billion by 2035.

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Insights

Lucid lays out an aggressive scale, cost, and autonomy roadmap but results hinge on flawless execution.

Lucid is repositioning from a niche luxury EV maker toward higher-volume premium segments. The new midsize platform, starting below $50,000 with projected best-in-class efficiency, is intended to support roughly 100,000 annual vehicle deliveries in the mid-term, far above current volumes.

The financial framework targets high-teens $B revenue, mid-teens gross margins, and free cash flow positivity by the late decade. Management plans meaningful unit cost reductions—up to 70% on midsize vehicles—via smaller batteries, the Atlas drive unit, simplified electronics, and manufacturing productivity.

Strategically, Lucid is betting on software and autonomy for higher-margin, recurring revenue, aiming for about $1B in annual non-vehicle revenue and more than $2B from robotaxi and B2B partnerships. Actual outcomes will depend on EV demand, execution of the late‑2026 midsize launch, capital availability, and successful roll-out of robotaxi programs with partners such as Uber and Nuro.

FALSE000181121000018112102026-03-122026-03-12

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (date of earliest event reported): March 12, 2026
Lucid Group, Inc.
(Exact name of registrant as specified in its charter)
Delaware
001-39408
85-0891392
(State or other jurisdiction of
incorporation or organization)
(Commission File
Number)
(I.R.S. Employer Identification No.)
7373 Gateway Boulevard
Newark, CA

94560
(Address of Principal Executive Offices)
(Zip Code)
Registrant’s telephone number, including area code: (510) 648-3553
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Class A Common Stock, $0.0001 par value per share
LCID
The Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐


Item 7.01 Regulation FD Disclosure.
On March 12, 2026, Lucid Group, Inc. (the “Company” or “Lucid”) hosted an Investor Day, offering the investment community and media a comprehensive update on the Company’s strategic priorities, operational execution, long-term growth roadmap, and financial outlook. The Company issued a press release related to the Investor Day on the same date, a copy of which is furnished herewith as Exhibit 99.1. The presentation used during the Company’s Investor Day is furnished herewith as Exhibit 99.2. Both Exhibit 99.1 and Exhibit 99.2 are incorporated by reference into Item 7.01 of this Current Report on Form 8-K.
Forward-Looking Statements
This Current Report on Form 8-K includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “shall,” “expect,” “anticipate,” “believe,” “seek,” “target,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “scheduled” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters.
These forward-looking statements are subject to a number of risks and uncertainties, including those factors discussed under the cautionary language and the Risk Factors in Lucid’s Annual Report on Form 10-K for the year ended December 31, 2025, subsequent Current Reports on Form 8-K, and other documents Lucid has filed or will file with the Securities and Exchange Commission. If any of these risks or uncertainties materialize, or Lucid’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Lucid currently does not know or that Lucid currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Lucid’s expectations, plans or forecasts of future events and views as of the date of the Investor Day. Lucid anticipates that subsequent events and developments will cause Lucid’s assessments to change. However, while Lucid may elect to update these forward-looking statements at some point in the future, Lucid specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Lucid’s assessments as of any date subsequent to the date of the Investor Day. Accordingly, undue reliance should not be placed upon the forward-looking statements.
The information in this Current Report on Form 8-K and the exhibit attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit
Number
Description
99.1
Lucid Press Release Dated March 12, 2026
99.2
Lucid Investor Day Presentation Dated March 12, 2026
104
Cover Page Interactive Data File (embedded within the inline XBRL document)


SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: March 12, 2026
LUCID GROUP, INC.
By:
/s/ Taoufiq Boussaid
Taoufiq Boussaid
Chief Financial Officer

img991a.jpg
Exhibit 99.1
Lucid Details Upcoming Midsize Platform and Announces New Recurring Revenue Streams, Outlining a Disciplined Path to Profitable Scale
•Multifaceted strategy to achieve profitability includes: expanded software and mobility revenue streams, manufacturing scale, rigorous capital allocation, and material cost reductions
•Revealed key technical and strategic details of its upcoming Midsize platform, which delivers segment leading features with improved manufacturing efficiency and cost
•Platform includes three models, the first two are Lucid Cosmos and Lucid Earth
•Highlighted advanced discussions with Uber to finalize an agreement to deploy Lucid Midsize platform vehicles at a scale similar to the Gravity robotaxi program, with intention to increase over time
•Introduced Lunar, a purpose-built robotaxi concept based on the Midsize platform
•New Atlas drive unit extends Lucid’s efficiency leadership while lowering cost
NEWARK, Calif., March 12, 2026 — Lucid Group, Inc. (NASDAQ: LCID), maker of the world’s most advanced software-defined vehicles and technologies, today announced a comprehensive financial and product strategy designed to scale its business, accelerate its path to profitability and positive free cash flow, and extend its technology leadership into higher volume premium segments of the global automotive market.
At Lucid’s investor day in New York, the company outlined key technical and strategic elements of its upcoming Midsize platform and revealed its next-generation Atlas electric drive unit. Lucid also previewed planned software and technology updates, including an in-vehicle AI assistant and its autonomy roadmap, and reinforced its strategy to monetize software and services as it scales.
Lucid also highlighted continued advancement of its strategic relationship with Uber, as the companies finalize an agreement to deploy Lucid Midsize platform vehicles at a scale similar to the Gravity robotaxi program, with intention to increase over time.
Together, these announcements mark a pivotal evolution for Lucid as the company leverages its technology leadership and radical efficiency approach to strengthen near-term execution and accelerate its path to profitability and free cash flow generation.
“Lucid has already proven its capabilities through technology and product leadership,” said Marc Winterhoff, Interim CEO at Lucid. “Today, we’re keeping the same Lucid product and technology DNA intact, while applying increased scale, capital efficiency, and cost discipline, and materially reduced costs, to enable a great business with a clear and credible path to profitability and free cash flow, supported by what we are executing now and what we are building for the future.”
"We view Lucid as a key strategic partner as we continue to rapidly deploy autonomous vehicles around the world,” said Dara Khosrowshahi, CEO at Uber. “Lucid’s unmatched efficiency, autonomy-ready vehicle architectures, and customer-centric approach give us confidence in our ability to deliver autonomous mobility together at global scale.”
Lucid also introduced Lunar, a purpose built two-seat robotaxi concept based on the Midsize platform, designed to maximize efficiency, utilization, and lifetime operating economics. While still in the concept phase, Lunar highlights the potential of the company’s Midsize platform to support future autonomous and commercial applications.
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Outlining a Path to Profitability: Built on Near-Term Execution and Scalable Growth
Lucid emphasized that its strategy is anchored in near-term execution. In 2026, the company is focused on further scaling Lucid Gravity, expanding its global commercial reach, advancing software offerings and services, accelerating material cost and manufacturing efficiency initiatives, while maintaining strict capital allocation discipline to shorten the path to positive free cash flow.
Lucid outlined the key levers underpinning this transition: i) Midsize platform scale to significantly increase addressable market and fixed-cost absorption; ii) radical efficiency in engineering and manufacturing to reduce bill of materials, including the battery, labor, and capital intensity; iii) diversified revenue, including software, services, platform licensing, robotaxi partnerships, and autonomy; and (iv) capital-efficient partnerships, particularly in robotaxis and platform licensing.
“Lucid’s technology leadership is now fully aligned with a business model designed for scale,” said Taoufiq Boussaid, CFO at Lucid. “While the Midsize platform fundamentally improves unit economics in the mid-term, near-term progress is driven by scaling Gravity, disciplined capital deployment, and diversified revenue streams that accelerate our path to sustainable profitability and positive free cash flow.”
Lucid Cosmos and Lucid Earth Expand “Compromise Nothing” into High-Volume Premium Segments
Lucid’s new Midsize platform has been engineered from the ground up to deliver segment-leading vehicles at a more accessible price point, starting below $50,000, while continuing the range, efficiency, performance, and driving pleasure that define the Lucid brand.
Lucid Cosmos is an SUV designed for customers seeking exceptional efficiency, space, and performance. Lucid Earth is an SUV that extends the company’s signature driving dynamics and efficiency into a product to appeal to those with an even more adventurous spirit. Lucid will share additional details on a third Midsize consumer model later.
“With Midsize, we didn’t compromise what makes a Lucid special, we engineered it to scale,” said Derek Jenkins, Senior Vice President of Design and Brand at Lucid. “These vehicles deliver unmistakable Lucid design and driving characteristics, while embracing a radically simpler, more efficient approach to manufacturing and cost.”
Midsize Platform Extends Efficiency Leadership While Lowering Cost
Lucid emphasized that efficiency remains the company’s core differentiator, not only as a customer benefit, but as a structural business advantage. Industry-leading world efficiency enables required range with significantly smaller battery packs, a critical advantage as they represent approximately 30–40% of the cost of an electric vehicle.
“Our efficiency leadership directly translates into cost leadership with our Midsize platform,” said Emad Dlala, Senior Vice President of Engineering and Software at Lucid. “Smaller batteries, fewer parts, and tighter integration mean lower cost, better performance, and a superior customer experience, all at the same time.”
At the heart of the Midsize platform is Atlas, Lucid’s all new electric drive unit. Atlas advances Lucid’s integrated efficiency approach through a smaller, lighter, and simpler design, featuring identical front and rear housings and mounts to improve manufacturing scale and cost efficiency.
Lucid also highlighted its radically simplified design-for-manufacturing philosophy, including, as one example, the elimination of traditional beltline moldings on the doors, reducing part count, assembly time, and cost, while creating a cleaner, sleeker exterior design.
“By designing the entire vehicle as one integrated system, Lucid has raised the bar for electric vehicles,” said Winterhoff. “With Midsize, that same approach delivers best-in-class products and a scalable, profitable business model that positions our vehicles to compete and win against combustion powered alternatives at scale.”
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About Lucid Group
Lucid Group, Inc. (NASDAQ: LCID) is a technology company creating exceptional mobility experiences through innovation to drive the world forward. Built on Lucid’s proprietary technology and software defined vehicle architectures, the company’s lineup of award-winning vehicles brings Lucid’s “Compromise Nothing™” approach to premium segments of the global automotive market. Lucid designs and engineers its products in-house and manufactures at its vertically integrated facilities in Arizona and Saudi Arabia, enabling continuous innovation across vehicles, software, and advanced driver assistance and autonomy-ready capabilities.
Forward-Looking Statements
This communication includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “shall,” “expect,” “anticipate,” “believe,” “seek,” “target,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding Lucid's expectations related to the timing of reaching gross margin profitability and positive free cash flow, advancement of the strategic relationship with Uber, expansion of revenue streams, eventual performance of the new Atlas drive unit, the details and the starting pricing of Midsize vehicles, the upcoming third Midsize consumer model, the Lunar robotaxi concept, and Lucid’s strategy. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of Lucid's management. These forward-looking statements are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from these forward-looking statements. Many actual events and circumstances are beyond the control of Lucid. These forward-looking statements are subject to a number of risks and uncertainties, including those factors discussed under the cautionary language and the Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2025, subsequent Current Reports on Form 8-K, and other documents Lucid has filed or will file with the Securities and Exchange Commission. If any of these risks materialize or Lucid's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Lucid currently does not know or that Lucid currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Lucid's expectations, plans or forecasts of future events and views as of the date of this communication. Lucid anticipates that subsequent events and developments will cause Lucid's assessments to change. However, while Lucid may elect to update these forward-looking statements at some point in the future, Lucid specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Lucid's assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.
Media Contact
media@lucidmotors.com
Trademarks
This communication contains trademarks, service marks, trade names and copyrights of Lucid Group, Inc. and its subsidiaries and other companies, which are the property of their respective owners.

3
Investor Day N E W Y O R K , N Y M A R C H 1 2 , 2 0 2 6 Accelerating to Profitability 1 Exhibit 99.2

 
Forward Looking Statements​ (1 of 2) This presentation includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “shall,” “expect,” “anticipate,” “believe,” “seek,” “target,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “scheduled” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding results of operations, financial outlook and condition, guidance, liquidity, capital expenditures, prospects, growth, production volumes, strategies, management, and the markets in which Lucid operates, including expectations of financial and operational metrics, projections of profitability, projections of market opportunity, market share and product sales, plans and expectations related to commercial product launches and future programs, initiatives and products, including the Midsize program, plans and expectations on vehicle production and delivery timing and volumes, expectations regarding market opportunities and demand for Lucid’s products, the range, features, specifications, performance, production and delivery of Lucid’s vehicles and potential impact on markets, plans and expectations regarding further monetization opportunities, plans and expectations regarding Lucid’s software, technology features and capabilities, including with respect to battery and powertrain systems, plans and expectations regarding Lucid’s systems approach to the design of the vehicles, estimate of Lucid’s technology lead over competitors, estimate of the length of time Lucid’s existing cash, cash equivalents and investments will be sufficient to fund planned operations, plans and expectations regarding Lucid’s liquidity runway, future capital raises and funding strategy, plans and expectations regarding future manufacturing capabilities and facilities, logistics and supply chain, production costs, studio and service center openings, sales channels and strategies, test drive, ability to mitigate supply chain and logistics risks, plans and expectations regarding expansion and construction of Lucid’s AMP-1 and AMP-2 manufacturing facilities and capabilities, including potential benefits, ability to vertically integrate production processes, future sales channels and strategies, future market launches and international expansion, Lucid’s ability to grow its brand awareness, plans and expectations regarding management transitions, the potential success of Lucid’s distribution strategy and future vehicle programs, potential automotive and strategic partnerships and their anticipated benefits, plans and expectations regarding Lucid’s ADAS/AD roadmap and robotaxi program, expectations on the technology licensing landscape, expectations on the regulatory and political environment, and the promise of Lucid’s technology. These statements are based on various assumptions, whether or not identified in this presentation, and on the current expectations of Lucid’s management. These forward-looking statements are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from these forward-looking statements. Many actual events and circumstances are beyond the control of Lucid. 2

 
Forward Looking Statements​ (2 of 2) These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, economic, market, financial, political, regulatory and legal conditions, including changes of policies, imposition or proposed imposition of tariffs, export controls, threat of a trade war, the risk of a global economic recession or other downturn, bank closures and liquidity concerns at financial institutions, and global or regional conflicts or other geopolitical events, including recent geopolitical tensions in Middle East and Venezuela; risks related to changes in overall demand for Lucid’s products and services and cancellation of orders for Lucid’s vehicles; risks related to prices and availability of commodities and components, including rare-earth materials, semiconductors and their related products, and other materials, Lucid’s supply chain, logistics, inventory management and quality control, and Lucid’s ability to complete the tooling of its manufacturing facilities over time and scale production of Lucid’s vehicles; risks related to the uncertainty of Lucid’s projected financial and operational information; risks related to the timing of expected business milestones and commercial product launches; risks related to the construction and expansion of Lucid’s manufacturing facilities and the increase of Lucid’s production capacity; Lucid’s ability to manage expenses and control costs; risks related to future market adoption of Lucid’s offerings; the effects of competition and the pace and depth of electric vehicle adoption generally on Lucid’s business; changes in regulatory requirements, policies, and governmental incentives; changes in fuel and energy prices; Lucid’s ability to rapidly innovate; Lucid’s ability to enter into or maintain partnerships with original equipment manufacturers, vendors and technology providers, including its ability to realize the anticipated benefits of its partnerships with Aston Martin, Uber, Nuro and NVIDIA; risks related to potential vehicle recalls; Lucid’s ability to establish and expand its brand, and capture additional market share, and the risks associated with negative press or reputational harm; Lucid’s ability to effectively manage its growth and recruit and retain key employees, including its executive team; Lucid’s ongoing need to attract, retain, and motivate key employees, including engineering and management employees, as Lucid has undertaken multiple significant management changes in the past, including its CEO; risks related to Lucid’s outstanding redeemable convertible preferred stock and convertible senior notes; availability, reduction or elimination of, and Lucid’s ability to obtain and effectively utilize, zero emission vehicle credits, tax incentives, and other governmental and regulatory programs and incentives; Lucid’s ability to conduct equity, equity-linked or debt financings in the future; Lucid’s ability to pay interest and principal on its indebtedness; future changes to vehicle specifications which may impact performance, features, pricing and other expectations; the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries; and those factors discussed under the cautionary language and the Risk Factors in Lucid’s Annual Report on Form 10-K for the year ended December 31, 2025, subsequent Current Reports on Form 8-K, and other documents Lucid has filed or will file with the Securities and Exchange Commission. If any of these risks or uncertainties materialize, or Lucid’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Lucid currently does not know or that Lucid currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Lucid’s expectations, plans or forecasts of future events and views as of the date of this communication. Lucid anticipates that subsequent events and developments will cause Lucid’s assessments to change. However, while Lucid may elect to update these forward-looking statements at some point in the future, Lucid specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Lucid’s assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements. Trademarks​​ This presentation contains trademarks, service marks, trade names and copyrights of Lucid Group, Inc. and its subsidiaries and other companies, which are the property of their respective owners. 3

 
Our Next Chapter: Accelerating to Profitability Marc Winterhoff Interim CEO 8:00 – 8:25 AM 01 Revenue Growth: Lucid Air & Lucid Gravity Momentum Erwin Raphael SVP of Global Revenue 8:25 – 8:45 AM 02 Midsize: Scale and Profitability Catalyst Derek Jenkins SVP of Design & Brand Emad Dlala SVP of Engineering & Software Zach Walker Chief Engineer 8:45 – 9:40 AM Break 9:40 – 10:00 AM 03 Autonomy: L4-Ready Platforms, Faster Path to Market Kai Stepper VP of Advanced Driving Systems (ADAS) 10:00 – 10:30 AM Fireside chat Marc Winterhoff Interim CEO Andrew Macdonald President and COO, Uber 10:30 – 10:55 AM 04 Financial Roadmap: Scale, Profitability, and Capital Discipline Taoufiq Boussaid CFO 10:55 – 11:25 AM Closing remarks Marc Winterhoff Interim CEO 11:25 – 11:30 AM Q&A 11:30 – 12:00 PM Agenda 4

 
Marc Winterhoff Interim Chief Executive Officer 5

 
Our next chapter Accelerating to Profitability Increasingly diverse, high-margin revenue by monetizing autonomy Clear vision to lead in mobility technology Focus on establishing robotaxi market with leading partners #1 position with Air in luxury EV sedan and strong early reception of Lucid Gravity Strong, ready-to-scale operations and supply chain that enables steep cost reduction Midsize starting production late 2026 – Compromise Nothing, at accessible price Path to cash flow positive by the late decade 6

 
Our mission and vision Through technology we create exceptional experiences to Drive the World Forward 7

 
Lucid Air is #1 for luxury EV sedans… A testament to our winning value proposition of technology leadership, design, and brand Lucid Air Tesla Model S BMW i5 Porsche Taycan Audi A6 e-Tron BMW i7 Mercedes EQS ~9.5k ~7.2k ~6.0k ~5.3k ~3.9k ~3.1k ~1.8k Source: S&P Mobility January 2026 (except for Lucid data) U.S. unit sales for EV Luxury Sedans (2025) Polestar 3 ~5.0k 8

 
… and #3 across gas and electric vehicles U.S. unit sales for Luxury Sedans (2025) Mercedes E-Class Lucid Air Mercedes S-Class Tesla Model S BMW i5 ~16.0k ~9.5k ~7.3k ~7.2k ~6.0k BMW 5-Series ~21.1k Source: S&P Mobility January 2026 (except for Lucid data) ~8.3k BMW 7-Series 9

 
~3.8k ~2.9k ~2.8k ~2.2k ~2.0k ~1.8k ~1.5k ~1.0k Tesla Model X Lucid Gravity Rivian R1S Cadillac Vistiq BMW iX Cadillac Escalade IQ Polestar 3 Volvo EX90 U.S. unit sales for EV Luxury SUVs (for 3rd quarter on the market) Lucid Gravity is gaining momentum Note: Sales reflect each model’s third full quarter following its first meaningful sales quarter (>25 units) Source: S&P Mobility, January 2026 (except for Lucid Gravity) 10

 
Lucid Air awards vs. EV competitors (2022 – present) Lucid Air has won more awards than others combined since 2022 Lucid’s recognition is unparalleled *Lucid Air won this award in 2024, 2025, and 2026 **Lucid Air won this award in 2022 and 2023. Lucid Gravity won this award in 2025. Number of awards is compared to Luxury EV Sedan competitors * ** 11

 
LUCID TODAY 12

 
Maximize Lucid Air and Lucid Gravity Launch and Scale Midsize Platform Lead Software-Defined Vehicle and Software Innovation Lead Robotaxi Market Accelerating to Profitability Our Strategy 13

 
+ Autonomy ~$700B+ TAM Midsize platform and entry into the robotaxi market are significantly expanding our addressable market Luxury EV Sedan and SUV ~$40B TAM Note: Global TAM estimations excluding China; TAM figures are cumulative Source: S&P Mobility, July 2025 + Midsize EV ~$350B TAM 14

 
Unit cost improvements (%) Lucid Gravity own cost improvement Lucid Gravity cost improvement due to Midsize scaling 2025 2028 Bill of materials Overhead absorption Manufacturing efficiency Midsize 2028 100% 80% 60% 40% 20% 30-40% 60-70% Bill of materials Overhead absorption Manufacturing efficiency ~60% reduction in BOM vs 2025 Lucid Gravity BOM ~20% BOM cost reduction vs 2025 Lucid Gravity BOM Midsize own cost improvement Unit cost Scale, engineering, and manufacturing improvements drive down unit costs 15

 
S U P P L Y C H A I N ~25% BOM cost improvement for Gravity during 2025 Key Initiatives Navigated challenging supply chain dynamics • Finalize Midsize sourcing at current favorable cost position • Optimization of supply chain for cost, resiliency and flexibility Strong improvements in operational and supply chain performance P R O D U C T I O N 98% Increase in production volumes in 2025 Q U A L I T Y 85%+ Decrease in warranty costs for Air (last 3 years) • Significant decrease in Gravity manufacturing costs • Launch Lucid production system 2.0 in AMP-2 Significant increase in First-Time-Through (FTT) and improvement of defect rates • Embed closed-loop, data-driven issue detection 16

 
Best-in-class software that is both visible and invisible Infotainment Core Vehicle Software New features coming in 2026 Visibility to the customer • Lucid UX 3.0 • Surreal Sound Pro • Apple CarPlay and Android Auto in Lucid Air • Hands-free highway driving in Lucid Air • Automated parking • Sports car handling and chassis control • Industry-leading range • Industry-leading powertrain efficiency • Fastest charging • Software-defined vehicle (SDV) and OTA platform enabling 95%+ feature updates ADAS • Today: Apple CarPlay and Android Auto in Lucid Gravity • Lucid Intelligence AI Experience • Hands-free highway driving in Lucid Gravity • UX 3.0 in Lucid Air • Digital key in Lucid Gravity • In-city drive assist in Lucid Gravity • Vehicle-to-Home 17

 
Lucid’s autonomous strategy unlocks large additional revenue potential L4-ready vehicles Best-in-class partners Capital-efficient approach Dual robotaxi and personal autonomy strategy Most efficient EV platform 18

 
LUCID TOMORROW 19

 
Much larger TAM >$700B in 2035 New high-margin revenue streams Leveraging technology leadership Leading in SDV and software innovation Profitable and cash flow positive Infrastructure ready for large scale World-class quality and cost L4 Autonomous Driving For customer vehicles & robotaxis Compromise Nothing accessible for many more customers 20

 
Erwin Raphael SVP of Global Revenue 21

 
01 Revenue Growth: Lucid Air and Lucid Gravity Momentum #1 Market leader in luxury EV sedans 42 New locations planned for 2026 ~$1B Incremental annual non-vehicle revenue by late decade ~4X Growth in Lucid Gravity sales1 Note: (1) U.S. Q4 volume vs. U.S. Q3 volume 22

 
Market share position U.S. unit sales for Lucid Air (2021–2025) 2021 2022 2023 2024 2025 0.1K 4.3K 5.4K 7.7K 9.5K #4 #4 #3 #1 Lucid Air is the #1 best-selling luxury EV sedan Source: S&P Mobility Data, January 2026; market share position compared to other luxury EV sedans in the Air Segment 23

 
21 213 768 U.S. unit sales for Lucid Gravity (2025) 2,875 Q1 Q2 Q3 Q4 ~4X of Q3 sales 80% new to Lucid Lucid Gravity is off to a strong start and growth has accelerated Source: New Lucid buyers data per S&P Mobility Data, January 2026 28% Lucid Gravity conquests from non-SUV segment 24

 
Defies the laws of physics Lucid Gravity First Drive: An electric SUV that doesn’t make compromises Fast, futuristic, and one of the most thrilling vehicles I’ve driven The 2025 Lucid Gravity Is as Good as EV SUVs Get Test-Driving The 2026 Lucid Gravity, A Supercar In SUV Form Lucid Gravity Review: As Close As You Can Get to Perfect 25

 
S&P Mobility prior forecast ICE / PHEV EV 53M 64M 68M 71M -1% 15% CAGR ’25–’35 EV sales penetration, global (ex. China) 2020 2025 2035F2030F EV % ~2% ~8% ~18% ~28% Despite headwinds, the EV market is still primed for significant growth ~2.3x ~3.5x Technology Adoption Cycle 26

 
~2X Number of Tesla Model S customers in 2025 that chose Lucid Air over the next highest conquest model Lucid is the #1 next destination for luxury EV customers #1 Lucid Air’s rank as customer choice after trading in Tesla Model S in 2025 #1 Lucid Gravity’s rank as customer choice after trading in Tesla Model X in December 2025 ~350k Est. number of Tesla Model S and Model X vehicles in the U.S. (as of January 2026) Source: S&P Mobility Data, January 2026 Near-term revenue opportunities given market dynamics 27

 
July 2025 Aug 2025 Sept 2025 Oct 2025 Nov 2025 Dec 2025 1.0K 1.0K 1.9K 1.4K 3.2K 3.2K 2025 target run rate 1.7K monthly run rate (20K annual units*) 2026 target run rate 2.2K monthly run rate (25–27K annual units) Proven ability to scale *Initial 2025 manufacturing guidance from Q4 2024 earnings published February 25, 2025 28

 
+7 ~15% increase in North America +25 ~200% increase in Europe1 +10 ~200% increase in Middle East Planned locations in 2026 Rapid, strategic, and efficient global expansion Note: (1) Does not include 4 short-term locations Planned new sales location* Planned expansion Active with planned expansion Current location 29

 
2 new locations signed as of February 2026 10 locations under LOI discussions 7 new countries in Europe with LOIs signed and planned for 2026 launch Strong momentum in Europe supports scalable growth ACCELERATION IN GERMANY 2026 EUROPE EXPANSION Note: *Subject to successful execution of contracts; authorized repairer coverage planned to scale at 4 new service locations for every 1 new sales location 25 Locations planned for 2026 Planned new sales location* Planned expansion Active with planned expansion Current location 30

 
Tailored go-to-market approach Source: S&P Mobility Data Direct Attractive retail economics by going direct-to-consumer Customer relationship ownership across lifecycle Full brand control offering premium studio experience increase in sales per studio since 2022 >2x U.S. annual sales per studio (Lucid Air and Lucid Gravity) 300+ U.S. sales/studio of EVs within segment (Lucid Air) #1 USA, Canada, KSA Efficient market expansion with reduced CapEx and fixed OpEx Faster scale and network from leveraging local expertise Advantaged working capital with faster inventory turnover less up-front capital ~85% faster speed to market up to 1 year Europe, Other International Markets Indirect Increase in Inventory conversion 31

 
54% 9% 11% 26% ~$1B Aftermarket F&I Protection Plans AccessoriesService Incremental Non-Vehicle Revenue Incremental non-vehicle opportunities driven by software Legacy revenue opportunitiesSoftware-based Smart Energy, Connectivity & AD/ADAS ~$1B expected annual non-vehicle revenue opportunity by late decade 32

 
Coming 2026 13 Over-the-air updates in 2025 Features improvable over-the-air in Lucid Gravity 95%+ Expanded software offerings for customers delivered via over-the-air updates Coming 2027 SOFTWARE ROADMAP HIGHLIGHTS • Hands-Free Highway Driving • Lucid AI Assistant • V2H Energy Back-up • Smart Home Charging • Enhanced Auto Park In/Out • Video Streaming • Adaptive Driving Beam • Hands-Free Highway and City Driving • Digital Key • Hands-Free Highway and City Driving • Interior Live View • Halo Secure Surround Surveillance • Vehicle-to-Load • Productivity Apps • Hands-Free Highway Driving • Auto Park In/Out • Apple CarPlay/Android Auto • Mobile Key Now • Drive Assist • Auto Park In/Out • UI/UX 3.0 • Wellness App • Live View • See-through Vehicle Display • UI/UX 3.0 • Lucid AI Assistant • V2H Energy Back-up • Smart Home Charging • Enhanced Auto Park In/Out • Video Streaming (MY ’28) • Productivity Apps (MY ’28) 33

 
Industry Average 10–40% Lucid take rates consistently above competitors~40% ~65% Lucid Air and Lucid Gravity L2 ADAS take rates vs. industry (%) Customers demonstrate strong demand for Lucid autonomy offerings Note: Industry averages at OEM level 34

 
01 Revenue Growth: Lucid Air and Lucid Gravity Momentum S U M M A R Y Demonstrated market leadership Lucid Air #1 in luxury EV sedans Lucid Gravity growing quickly among luxury SUVs Proven ability to scale Exceeded 2026 target monthly run rates for Lucid Air and Lucid Gravity in late 2025 Diversifying revenue streams Incremental revenue streams driven by software Expanding geographically Thoughtful expansion globally, with focus on Europe 35

 
Derek Jenkins SVP of Design & Brand 36

 
~10x increase in Lucid’s TAM Designed to scale Up to 70% lower unit costs Same Lucid DNA and performance Accessible price point 02 Midsize: Scale and Profitability Catalyst 37 Today’s Investor Day provides a preview of Midsize, will full product reveal to come later this year

 
We started 10 years ago with a clean sheet, determined to build the best vehicles in the world 38

 
Lucid Air and Lucid Gravity have established Lucid as the leader in their segments They have challenged both gas and electric vehicle leaders across many metrics and are setting benchmarks for design, space, efficiency, range, driving dynamics, and performance 39

 
With the same Lucid DNA, the Midsize is more accessible to a bigger market 40

 
Entering the Midsize market significantly expands our TAM ~$40B ~$350B Total addressable market (Global excluding China) Average vehicle price Today With Midsize, 2030 $100K+ 2025 unit sales volume Note: Typical vehicle price and annual sales volume for 2025 Source: S&P Mobility, July 2025 $50K+ ~0.5M ~3M Large Luxury SUV and Sedan EV Segment Premium Midsize SUV EV Segment 41

 
of the total EV market Current target buyers represent approximately Median age: 51 • More mature, affluent EV buyers • Practical, functional technology matters • Prefer EV-only brands; high Lucid consideration S O P H I S T I C A T E D L O Y A L I S T S Today, Lucid customers are more luxury and on-road focused Note: Total EV market defined as EV and EV-considering customers 42

 
Median age: 49 • Performance, tech, and active lifestyles • Performance in all conditions matters • Make the most of every journey Median age: 39 • Young, affluent near-luxury buyers • Seek expressive, unique, bold, high-tech designs • Hitting peak earning years and moving up Median age: 41 • Luxury-forward Millennial parents • Value craftsmanship and premium features • Vehicle is a ‘family hub’ and reliable partner Urban, on-road, performance-focused Suburban, any-road, adventure-focused + Midsize expands the Lucid brand to new customer segments T R E N D S E T T I N G A C H I E V E R S A C T I V E E X P L O R E R SU P S C A L E N U R T U R E R S + 43

 
Expanding Lucid’s Product Portfolio Median age: 49 • Performance, tech, and active lifestyles • Performance in all conditions matters • Make the most of every journey Median age: 39 • Young, affluent near-luxury buyers • Seek expressive, unique, bold, high-tech designs • Hitting peak earning years and moving up Median age: 41 • Luxury-forward Millennial parents • Value craftsmanship and premium features • Vehicle is a ‘family hub’ and reliable partner Urban, on-road, performance-focused Suburban, any-road, adventure-focused + T R E N D S E T T I N G A C H I E V E R S A C T I V E E X P L O R E R SU P S C A L E N U R T U R E R S + Note: Total EV market defined as EV and EV-considering customers of the total EV market The launch of Midsize enables us to access a significant additional part of the electric vehicle market 44

 
10% current Lucid segment 50% New buyers addressed by Midsize models Lucid’s expanded portfolio will now reach most of the electric vehicle market Urban, on-road, performance-focused Suburban, any-road, adventure-focused Note: Total EV market defined as EV and EV-considering customers By adding Midsize, our product portfolio will cover most of the EV market = + of the total EV market 45

 
S T A Y T U N E D Three Midsize models will directly appeal to our target customer segments Urban, on-road, performance-focused Suburban, any-road, adventure-focused T R E N D S E T T I N G A C H I E V E R S A C T I V E E X P L O R E R SU P S C A L E N U R T U R E R S + + 46

 
Expanding Lucid’s brand reach. Positioning to win. S P O R T Y F U N C T I O N A L A D V A N C E D T R A D I T I O N A L A C T I V E E X P L O R E R S U P S C A L E N U R T U R E R S S T A Y T U N E D T R E N D S E T T I N G A C H I E V E R S Chinese models 47

 
Range Range that goes farther with less Design Bold, emotional design that’s impossible to ignore Performance Performance that defies limits Experience Immersive UX that transforms the experience Accessibility Built for attractive economics Lucid Midsize will set the benchmark for the premium driving experience #1 in efficiency, with up to 4.5 mi/kWh 0–60 MPH in 3.5 seconds #1 in spaciousness and cargo volume 36” single wide- screen immersive interface Starting at under $50K 48

 
We showed Lucid Cosmos and Lucid Earth to potential owners… and they loved it Lucid’s relative positioning #1 #1 #1 #1 Exterior Specs Price Rating of Lucid Midsize vs. competitors (% top 2) Peer average Lucid Cosmos + Lucid Earth average “I see quality when I see this. Feels very high tech – would probably blow my mind.” “That’s it! If I chose anything else, I’d be compromising.” “It was the best-looking car. Looks like the Jetsons!” Interior 49

 
Confidential 50 The next generation of world-class Lucid designs. Designed to Captivate. 50

 
Confidential 51 The striking, sporty silhouette of Lucid Cosmos 51

 
Confidential 52 We are advancing the Lucid design language through dynamic and emotionally expressive gestures designed to captivate our target customers 52

 
Confidential 53 Designing from the inside out: more space for passengers and cargo, enabled by our clean-sheet engineering approach and miniaturized powertrains 53

 
Confidential 54 Like Lucid Air and Lucid Gravity, aerodynamics played a leading role in optimizing the range of Lucid Cosmos for maximum efficiency 54

 
Our Midsize interior layout evolves to create a true shared space Clear View Cockpit An optimized evolution of the Air driver cockpit Uncompromising UI UX experience with our redesigned steering wheel Midsize Immersive Shared Space A shared environment with a centrally-positioned screen for a fully immersive interactive experience for everyone 55

 
The Midsize interior design is equally engaging, with an unobstructed wide screen designed for the social experience. Physical controls, combined with a regularly-upgraded digital experience, have always been part of the Lucid User Experience. 56

 
UX 4.0 is focused on creating Lucid moments and bringing people together, wherever Personalized and optimized to create the best EV experience Energy Establishing a third place for play and work, alone or with others Entertainment and Productivity Tailored for multiple users with a voice-first capable, multi-modal UI model Natural Interactions Transforming wayfinding in and out of the car Next-Gen Nav 57

 
Our new Lucid Intelligence AI Experience (AIX) platform is the foundation for multi-modal natural interactions Agentic Built on experience pillars and cultural intelligence A framework using memories that emphasizes privacy and control Personalized Cloud and edge support available across all touchpoints Seamless Flexible to adapt to the latest advances in a highly dynamic space LLM Agnostic 58

 
Lucid Assistant personalities and roles provide user choice for deeper engagement while preserving the Lucid brand 59

 
Confidential 60 Lucid Gravity AI Assistant S H O W C A S E 60

 
Legacy automakers focus on traditional attributes Lucid combines best of both worlds and is uniquely positioned to lead Newer players focus on technology, ADAS, and connected experience Midsize: Total Vehicle Experience 61

 
Emad Dlala SVP of Engineering & Software Zach Walker Chief Engineer 62

 
0 200 2020 2025 2030 100 50 150 Ef fic ie nc y (E PA M PG e) Note: Advantage based on extrapolation of historical trend Source: EPA Lucid is the leader in vehicle efficiency Lucid’s advantage >5-year advantage vs. nearest competitor Model Year Lucid Air Pure U.S. EV Leader OEM Full-Size Sedan German OEM EV Sedan 2 German OEM EV Sedan 1 15% greater efficiency than the nearest competitor 63

 
Less energy required than smaller vehicles Energy Efficiency Relentless innovation across key engineering domains enabling class-leading efficiency 64

 
More enjoyable than a sports car Performance Efficiency Lucid’s powertrain enables amazing driving performance without sacrificing efficiency or range 65

 
More interior space than a larger vehicle Space Efficiency Class-leading interior space with a smaller exterior body and lower overall weight 66

 
800V high- voltage battery Bi-directional charging system Centralized low- voltage electronics Maximized trunk space Maximized frunk space Miniaturized, power- dense drive unit Superb aerodynamics Maximized interior passenger space Midsize follows the same Lucid technology DNA Introducing the Midsize platform Energy Efficiency Performance Efficiency Space Efficiency 67

 
Atlas is our next innovation to drive efficiency Extending our technology leadership Smaller, lighter, simpler, and powerful at lower cost Over 30% fewer parts than Zeus Planetary reduction set Active-core differential Rotor Continuous wave- winding stator Integrated cooling and inverter 37% lower BOM cost than Zeus 23% lighter than Zeus 68

 
2.5 2.7 2.7 3.1 3.2 3.5 4.9 U.S. EV OEM Midsize SUV Chinese EV OEM Sedan RDU U.S. EV Leader OEM Truck RDU Chinese EV OEM Midsize CUV German OEM EV SUV RDU U.S. EV Leader OEM Midsize CUV Lucid Midsize RDU (Atlas) Power-to-weight (HP / KG) Atlas drive unit is best in class Power density is a key metric that impacts energy efficiency, material usage, mass, and space 40% greater power density than the closest competitor Source: A2MAC1 69

 
3.0 3.5 4.0 4.5 EPA est. Mile/kWh (AWD models) Lucid results even stronger for RWD models Lucid Cosmos (Projected) U.S. EV Leader OEM Midsize CUV Chinese EV OEM Midsize CUV German OEM New EV Midsize SUV 4.3 Midsize continues Lucid’s dominance in energy efficiency Lucid Cosmos is projected to be over 10% more efficient than the closest competitor Source: EPA 4.5 70

 
Radical Efficiency Energy Efficiency Performance Efficiency Space Efficiency Software Efficiency Manufacturing Efficiency leads to Product Superiority and Cost Efficiency 71

 
Battery Energy Efficiency Drive unit Performance Efficiency Packaging and body dimensions Space Efficiency Radical Efficiency leads to Product Superiority and Cost Efficiency Electronics architecture Software Efficiency Body Manufacturing Efficiency 72

 
Battery Energy Efficiency Over 200 miles in 14 minutes AC bi-directional charging V2H, V2L, V2X and V2V smart energy capabilities Product Superiority for the Customer Cost Efficiencies for our Business 80% fewer non-cell parts Single part installed on vehicle line 45%+ reduction in non-cell battery cost vs. Lucid Gravity (~25% of overall Cosmos BOM) 73

 
+$500 +$2,000+$1,500 BOM cost advantage to go 300 miles* ($) 86 kWh U.S. EV Leader OEM Midsize CUV Note: (*) Assumes an average battery cost of $120/kWh (U.S. average cost in 2025) for a battery pack delivering ~300 miles of range Battery size needed for 300 mi range (kWh) 82 kWh 73 kWh69 kWh Chinese EV OEM Midsize CUVGerman OEM New EV Midsize SUVLucid Cosmos AWD For the same range, cost of cells is $2,000 less Energy Efficiency - 74

 
-40% -50%Footprint efficiency (Sq. Ft./ JPH) % Change (Midsize versus Current) Labor and overhead (CPU) Lucid Air and Lucid Gravity Midsize An example: Optimized Battery Facility Relative footprints Innovation resulting in productivity and reduction of manufacturing cost Energy Efficiency Leading to Manufacturing Efficiency 75

 
Smaller, lighter, simpler, and powerful—all at lower cost Performance Efficiency: Atlas Drive Unit 0–60 MPH in under 3.5 seconds Leadership in class for highway acceleration and overtaking Reduced energy losses to support best in class Energy Efficiency Product Superiority for the Customer Cost Efficiencies for our Business Over 30% fewer parts Commonized drive unit: front and rear (only rotor/stator change) ~37% reduction in drive unit cost vs.Lucid Gravity (~10% of overall Cosmos BOM) 76

 
Giving more space in the same size vehicle Space Efficiency: Customer Space >8% >10% >4%more 2nd row legroom more couple distance more effective occupant space Space efficiency of Lucid Cosmos vs. top competitors’ average Source: A2MAC1 77

 
Usable Cargo Volumes (in m3) 0.66 Midsize Cosmos 0.54 U.S. EV Leader OEM Midsize CUV 0.52 Chinese EV OEM Midsize CUV >24% more usable cargo space than average of shown top competitors Innovative design resulting in more cargo space—whether you have a driver or not Space Efficiency: Cargo Space Source: A2MAC1 78

 
Midsize SDV enables lower hardware and software costs, and faster feature deployment Software Efficiency 79

 
Midsize electronics hardware Product Superiority for the Customer Cost Efficiencies for our Business Over-the-Air updates for constant experience improvement Reduced latency and digital reaction time to customer demand AI Assistant controlling all car controls and more ~40% fewer wiring harness lines vs comparable EVs Reduced assembly time ~60% reduction in wire harness cost vs. Lucid Gravity (~3% of overall Cosmos BOM) Faster feature updates with simpler electronics and lower cost Software-Defined Vehicle: Electronics Architecture Lucid Gravity electronics hardware Source: A2MAC1 80

 
Software-Defined Vehicle: Lucid is the Clear Leader Cutting EdgeOutdated Wiring simplicity Complex Simplified Legacy Auto Modern ICE/EV Modern EV Next-Gen SDVs Distributed Domain Zonal Centralized Good Good Better Chinese EV OEM Midsize CUV ECUs: 3 Wires: 2.2K South Korean OEM EV Midsize ECUs: 10 Wires: 1.9K U.S. EV Leader OEM Midsize CUV ECUs: 3 Wires: 1.3K Lucid Midsize ECUs: 3 (2 Unique) Wires: 1.1K Electronics Architecture Source: A2MAC1 81

 
2023 U.S. EV Leader OEM Midsize CUV 2025 U.S. EV Leader OEM Midsize CUV Product Superiority for the Customer Cost Efficiencies for our Business Annual insurance costs $1,000 less than competitors 5-Star safety performance in all markets Optimized stiffness-to-weight-to space for Space and Performance 65%+ reduction in joining guns vs. Lucid Gravity 2x improvement in robot efficiency Modular, mixed metal design offers the best of both worlds Manufacturing Efficiency: Body Lucid Cosmos Aluminum Extrusion Aluminum Casting Steel Stamping Source: RCAR 82

 
100 110 165 195 Lucid Cosmos U.S. EV Leader OEM Midsize CUV South Korean OEM EV Midsize Chinese EV OEM Midsize CUV Part count vs. competitors (indexed to 100) A more desirable vehicle… Product superiority …with half the parts Radical efficiency Flat cargo space cubic ft Insurance cost $/mile Charging speed miles of range gained per 10 min of charging Driving efficiency mi/kWh Lucid Cosmos U.S. EV Leader OEM Midsize CUV Source: A2MAC1 83

 
What does this all mean for Lucid’s business? 84

 
Unit cost improvements (%) Lucid Gravity own cost improvement Lucid Gravity cost improvement due to Midsize scaling 2025 2028 Bill of materials Overhead absorption Manufacturing efficiency Midsize 2028 100% 80% 60% 40% 20% 30-40% 60-70% Bill of materials Overhead absorption Manufacturing efficiency ~60% reduction in BOM vs 2025 Lucid Gravity BOM ~20% BOM cost reduction vs 2025 Lucid Gravity BOM Midsize own cost improvement Unit cost Radical Efficiency leads to Product Superiority and Cost Efficiency 85

 
Resulting in a highly competitive bill of materials cost Comparable cost with longer range Chinese EV OEM Midsize CUV U.S. EV Leader OEM Midsize CUV (weighted average of U.S. / China manufacturing) Lucid Cosmos Note: Global weighted average BOM cost, including all manufacturing locations Source: A2MAC1 Midsize bill of materials (BOM) cost vs. competition 86

 
Lucid Earth Stay tunedLucid Cosmos parts and investment shared between Lucid Cosmos and Lucid Earth Optimizing investment, leveraging scale 87

 
Differentiation where it counts S P O R T Y F U N C T I O N A L A D V A N C E D T R A D I T I O N A L A C T I V E E X P L O R E R S U P S C A L E N U R T U R E R S T R E N D S E T T I N G A C H I E V E R S S T A Y T U N E D 88

 
-31% U.S. EV Leader OEM Midsize CUV Lucid Cosmos Consumer economics: insurance costs per year (at 10K miles / yr) Our customers will spend $1,000 less than customers of comparable OEM Midsize innovations improve repairability and lowers insurance costs 89

 
02 Midsize: Scale and Profitability Catalyst S U M M A R Y Significant market expansion ~10x TAM with entering Midsize Cost efficiency Up to 70% lower unit costs through technology improvements and achieving scale Breakthrough engineering Autonomy-ready, software defined vehicle Product superiority Same Lucid DNA with radical efficiency, leading performance, energy, space, and user experience 90

 
Kai Stepper VP of Autonomy and Advanced Driver Assistance Systems (ADAS) 91

 
03 Autonomy: L4-Ready Platforms, Faster Path to Market $300B+ Robotaxi TAM by 2035 18 months time to market for the first Lucid robotaxi from deal announcement L4-ready platform Up to 65% take-rate for L2 features <$500M autonomy investment with declining technology costs and increased partnership collaboration 92

 
Animation removed for published presentation Live presentation had an animation that showed Lucid EV platform evolving into Lucid AV platform, signifying Lucid’s evolution from EV technology sales to a scale autonomy partner 93

 
Relative deal sizes (illustrative) Recent tech licensing Robotaxi platforms Lucid technologies are unlocking larger partnership opportunities 94

 
01 Personal autonomy Major software monetization opportunity now D U A L S T R A T E G Y Personal autonomy and robotaxis maximize revenue potential and accelerate scaling 02 Robotaxis Rapid scaling expected in the next 2–5 years 95

 
~$0B ~$1B ~$5B ~$11B ~$30B ~$50B ~$210B ~$300B 2025 2026 2027 2028 2029 2030 2033 2035 Robotaxi market size Global excluding China Note: TAM includes premium in-car services, advertising, and autonomous ride-hailing Source: Morgan Stanley, Euromonitor, Statista, Goldman Sachs Forecasted personal autonomy penetration % of new vehicles sold 2 2 20 35 80 165 450 590 # of vehicles added (K) 0 20 40 60 2025 2035 L4+ L3 L2 Massive market opportunity for both personal autonomy and robotaxis 2030 B 2 BB 2 C 96

 
Lucid has an L4-ready platform available directly from the factory B 2 B 97

 
Lucid Gravity Lucid Cosmos IONIQ 5 RTI-PACE Note: Other models planned or in commercial service in the U.S. Lucid Gravity Grand Touring, Hyundai Ioniq 5 SE RWD, I-Pace R-Dynamic SE, Zeekr Mix data used when Zeekr RT data was not available; charging time for fastest charging connection Safety backups for core vehicle operation Safety backups for autonomous driving Partial Charging speed (to 200 miles) Efficiency (up to miles per kWh) 14 minutes 11 minutes ~35 minutes ~18 minutes 3.4 2.5 N/A 2.7 4.5 3.6 Best in category Technology leadership enables best-in-class vehicle efficiency for robotaxis B 2 B 98

 
Operating costs for robotaxis (cents / mile) Assumes 100K miles / year, excludes depreciation Innovative, modular design reduces maintenance and repair costs Efficient battery system enables longer range on same battery size and faster charging (less downtime) +10% Charging Maintenance Downtime Compute Fleet ops South Korean OEM EV MidsizeU.S. EV Leader OEM Midsize CUVLucid Midsize +34% Better range and overall efficiency unlock market-leading operating costs Note: Lower downtime costs for Lucid Midsize driven by longer range and faster charging time B 2 B 99

 
Lucid Gravity units committed Investment from Uber “Lucid’s unmatched efficiency, autonomy-ready vehicle architectures, and customer-centric approach give us confidence in our ability to deliver autonomous mobility together at global scale.” Dara Khosrowshahi, Uber CEO Lucid’s value proposition is resonating with major industry players B 2 B 100

 
First Alpha prototype Agreement signed 75 Alpha prototypes Pre-production vehicles O P E R A T I N G M I L E S T O N E S Public road testing 35 Product- validation prototypes 6 months Safety and validation begins Uber / Nuro partnership is on-track for commercial launch this year B 2 B Start of commercial operation 2 0 2 5 J U L Y 2 0 2 6 S E P T E M B E R J A N U A R Y M A R C H A U G U S T E A R L Y Q 4 N O V E M B E R L A T E 2 0 2 6 101

 
Lucid costs are below prior entrants Declining technology costs and collaboration with partners will reduce Lucid’s required investments vs. prior entrants Note: Competitor spend approximated based on cumulative funding raised Source: Citizens Bank Uniquely capital-efficient approach B 2 BB 2 C 102

 
~1 to 1.5 Years to deployment ~3 to 4 Years to deployment Lucid’s Autonomy Approach Traditional OEM Retrofit Path Vehicle re-architecture 12–16 months Validation and homologation 12 months Autonomy readiness gives us a significant head start vs. traditional OEMs B 2 C B 2 B Limited L4 pilot deployment 12 months Identify architecture gap 6 months L4 deployment 6–12 months Fully integrate autonomy software 6 months 103

 
Animation removed for published presentation Live presentation had an animation that depicted Lucid’s personal autonomy strategy, which provides customers with increasing levels of autonomy over time. A chronological roadmap is provided on the next slide. 104

 
Description Hands off Hands and feet are off, but must watch the road and be ready to take over Eyes off You can look away, but must be ready to take over when asked Mind off You’re just a passenger; no supervision or takeover expected Note: Enhanced Level 2 driver assistance in Lucid Gravity 2026 and Lucid Cosmos 2027 When we expect to achieve Hands-free highway driving L3 L4 2029202820272026 Lucid’s clear roadmap to deliver L4 autonomy to consumers Hands-free highway and city driving B 2 C 105

 
What customers are saying about Lucid’s Hands-Free Highway Driving “Lucid knocked the ball out of the park. It’s that perfect. I drove with zero issues.” “Fabulous update! HFDA was flawless, turns are now smooth as silk and lane change assists were excellent. A flawless upgrade…and an excellent one at that!” “Tried a lane change to the far-right lane just as the freeway transitions to a left turn on a downhill. Brutal test, it handled it like a champ.” 106

 
$69 –199 / mo. Tiered by ADAS level (L2++ to L4) H1 2027 DreamDrive Pro Autonomy subscriptions are the single biggest software monetization opportunity Note: Pricing subject to change B 2 C 107

 
03 Autonomy: L4-Ready Platforms, Faster Path to Market S U M M A R Y L4 ready vehicles 01 Most efficient EV platform 02 Best-in-class partners 03 Capital-efficient approach 04 Dual robotaxi and personal autonomy strategy 05 Customer monetization today, with the robotaxi and personal autonomy market inflecting toward $300B of opportunity by 2035 How Lucid will win 108

 
Marc Winterhoff Interim Chief Executive Officer 109

 
Andrew Macdonald President and COO, Uber F I R E S I D E C H A T Marc Winterhoff Interim CEO, Lucid 110

 
111

 
L U C I D M I D S I Z E 112

 
L U C I D M I D S I Z E L U C I D R O B O T A X I 113

 
Target driving efficiency mi/kWh 5.5 to 6.0 Passenger legroom inches 42+ Operating cost $ / mile 40% Charging speed miles added per 15 min of charging 200+ Lunar: Two-Seat Robotaxi Concept lower operating costs 114

 
Animation removed for published presentation Live presentation had an animation that illustrated a potential future autonomous capability with a 2- seater robotaxi navigating a city 115

 
Taoufiq Boussaid Chief Financial Officer 116

 
Growth well-defined by volume ramp-up, vehicle mix optimization, partnerships, robotaxi, and services Path to profitability driven by cost reduction (manufacturing, overhead, BOM), R&D efficiency, and operational excellence Disciplined capital plan with clear investment guardrails, working capital optimization, and risk management Mid-term Scale ($B revenue) Profitability (GM %) High single-digits Capital Allocation (CapEx as % of revenue) Late decade High-teens Positive Mid-teens Teens Single-digits Scale, Profitability, and Capital Discipline 04: Financial Roadmap 117

 
Strengthen Scale Outperform Continued delivery growth Stringent OpEx management Focused CapEx spend Scale Midsize platform Disciplined market expansion Growth in robotaxi and non-vehicle revenue Global delivery growth Autonomous solutions scaling Advantaged cost base 2 0 2 6 M I D - T E R M L A T E D E C A D E Diversifying revenue base Gross Margin profitable High double-digit revenue growth Significant unit economics improvement Growth at scale Positive Free Cash Flow Three-stage financial plan towards profitability and cash generation 118

 
Reaffirming our guidance 2026 Targets Production Volumes 25–27k units Capital Expenditures $1.2–1.4B Scale Lucid Gravity production and sales, with improved margin profile Expand international presence with 35+ new locations across Europe and the Middle East Significant unit economics improvement through BOM optimization, manufacturing efficiency and overhead absorption Execute on CapEx and cash preservation initiatives How we will achieve our targets 2026 Scale Lucid Gravity, expand software offerings, and carefully manage cash 119

 
2027 2028 Revenue by source ($B) New vehicle sales Non-vehicle revenue (e.g., software & services) Robotaxi and other B2B platform partnerships 2026F Accelerated new vehicle sales • Lucid Gravity growth at scale • Expansion of Midsize platform driving approx. 100k total annual vehicle deliveries over the midterm • Expansion to 9+ new countries Diversifying into higher-margin revenue strengthens mix by the mid-term • High single-digit % revenue from partnership sales (e.g., EV platforms, robotaxi) • High single-digit % non-vehicle revenue from used vehicles, ADAS, premium subscriptions, and services Revenue streams and growth drivers Vehicle Mix Midsize Lucid Air Lucid Gravity Mid-term Increasingly diversified revenue mix as we scale Significant Lucid Gravity annual growth projected for 2025-2028 120

 
How we are achieving this Targeted cross-functional “tiger teams” resolving discrete bottlenecks 25 – 35% 30 – 40% 50 – 60% Mid-term unit cost reduction vs. Q4 2025 Includes benefit of mix shift to Midsize Benefit of mix shift to lower cost Midsize Product and process enhancements enabling labor and overhead cost per unit reduction through efficiency improvements • Learning curve and volume leverage • Productivity improvements • Logistics overhead reduction • Institutionalize the Lucid Production System Enabling BOM cost reductions across Lucid Air and Lucid Gravity Mid-term Significant cost improvements in coming years Lucid Air Lucid Gravity Total 121

 
Overhead absorption BOM & manufacturing improvements Robotaxi and other B2B MI LE S T ON E T A R G E T S T A T U S Production hits run-rate of 2.2K/mo 2026 Achieved (Q4 2025) Commercialization and expansion of Uber / Nuro partnerships Launch Q4 2026 On track Midsize SOP By end of 2026 On track Hands-free highway and city driving By the end of 2026 On track Note: (*) Non-vehicle automotive sales includes used vehicles, service, body shop, parts, warranty, accessories, charging equipment, roadside assistance Non-vehicle*, ADAS, and software 2026F Mid-term High-margin, recurring revenue streams with minimal incremental CapEx Mid-term Achieving gross margin profitability over the mid-term Milestones we are trackingGross margin main drivers over mid-term 122

 
R & D ~10% of revenue Key Initiatives Portfolio rationalization and stage-gate discipline on research projects Use of multi-purpose platforms and components Commonize software architectures across all platforms Global engineering footprint optimization Mid-term Operating expense discipline S G & A ~10% of revenue Continue to optimize organizational design Use AI tools to minimize manual effort and speed up core processes Utilize indirect model for select markets to accelerate speed to market and optimize cost efficiency Managing supply chain risks 123

 
AMP 1 AMP 2 Other Mid-high double-digit Low double-digit Teens Disciplined CapEx approach Front-loaded CapEx enables infrastructure capable of large scale Improved asset utilization in mid-term Autonomous strategy focused on capital efficient partnership approach CapEx % of revenue 2026F 2028 Note: Other includes retail, core R&D, vendor tooling, etc. 2027 Mid-term Current investments reduce future capital needs 124

 
>$1B Non-new vehicle >$2B Robotaxi and other B2B partnerships >$5B EMEA & ROW Late decade Diversified revenue mix across streams and geographies More diverse revenue streams International expansion 125

 
<5% of revenue ~5% of revenue Late decade Long-term cost and capital profile R & D CapEx ~10% of revenue S G & A 126

 
Total free cash flow (FCF) 2026F Lucid Air and Lucid Gravity Late decadeNon-new vehicles Robotaxi and B2B CapEx reduction and other Midsize Late decade Clear path to free cash flow positive by late decade 127

 
Cash Flow Profitability Strong cost reduction and higher margin revenues Mid-teens GM (%) Improved operating leverage and cash conversion Delivering Shareholder Returns Capital Allocation Disciplined, stage-gated approach CapEx < 5% of revenueHigh single-digit FCF margin (%) Growth and Scale Mid-term inflection point and diversification / mix improvement High-teens revenue ($B) Long-term Lucid financial profile 128

 
Automotive OEM Software and Services Autonomy + Growth at scale + Cost efficiency + Recurring revenue + Higher margin + B2B revenue visibility + Capital efficient + Expanding ROIC Core execution (auto) Expansion into new markets / business models Successful execution will drive increased shareholder value 129

 
Improved tariff landscape Potential additional opportunities Increased conquest capitalizing upon market dynamics Faster-than-expected robotaxi scaling Battery cost reductions Improved EV regulatory environment Balancing risks and opportunities Market risk or indicator Shifts in global demand for EV or autonomy Increased global competition Policy or regulatory changes Capital availability How we remain agile Flexible global manufacturing Expanded recurring, higher-margin revenue Continued technology innovation and investment in Lucid premium brand Proactive monitoring and engagement in regulatory issues Capital-efficient model with disciplined OpEx, best-in-class partners and accelerated path to market 130

 
Inflection point for robotaxi scaling Midsize expands TAM and accelerates path to scale and profitability Why now? 1 2 Leading technology that delivers best-in-class performance at competitive cost Capital-efficient approach that enables agility, speed to market, and disciplined investment World class infrastructure, strengthened operations and supply chain capable of rapid scaling, and unit cost improvement Strategic partnerships accelerating growth 3 Lucid Gravity positioned to lead luxury SUV Market 4 Lucid Investment Thesis Front-loaded investment to accelerate path to profitability, guided by clear milestones, and careful risk management 131

 
Marc Winterhoff Interim Chief Executive Officer 132

 
Increasingly diverse, high-margin revenue by monetizing autonomy Clear vision to lead in mobility technology Focus on establishing robotaxi market with leading partners #1 position with Air in luxury EV sedan and strong early reception of Lucid Gravity Strong, ready-to-scale operations and supply chain that enables steep cost reduction Midsize starting production late 2026 – Compromise Nothing, at accessible price Path to cash flow positive by the late decade Our next chapter Accelerating to Profitability K E Y M E S S A G E S F R O M T O D A Y 133

 
Confidential 134 Analyst Q&A Q & A 134

 
135

 

Source: View Original Filing on SEC EDGAR

FAQ

What did Lucid Group (LCID) announce at its March 2026 Investor Day?

Lucid presented a comprehensive strategy to scale its business, improve unit economics, and accelerate its path to profitability and positive free cash flow. It detailed a new midsize EV platform, an autonomy roadmap, expanded software and services offerings, and partnerships supporting robotaxi and platform-licensing revenue.

What is Lucid’s new midsize EV platform and when will it launch?

Lucid’s midsize platform underpins three models, including the Lucid Cosmos and Lucid Earth SUVs, designed to deliver segment-leading efficiency and space at more accessible prices starting below $50,000. The company plans to begin production of the midsize platform in late 2026, with a full product reveal later in 2026.

How is Lucid Group (LCID) targeting profitability and free cash flow?

Lucid aims for mid-term high-teens revenue in billions of dollars, mid-teens gross margins, and free cash flow positivity by the late decade. The plan relies on scaling volumes, shifting mix to the lower-cost midsize platform, substantial bill-of-materials and manufacturing savings, and higher-margin software, services, and B2B revenues.

What guidance did Lucid provide for 2026 production and capital spending?

For 2026, Lucid reaffirmed production guidance of 25,000–27,000 vehicles and capital expenditures of $1.2–$1.4 billion. Management expects improved unit economics through bill-of-materials optimization, manufacturing efficiency, and better overhead absorption as Lucid Gravity scales and the company expands its international sales footprint.

How important are software and autonomy to Lucid’s revenue strategy?

Software and autonomy are central to Lucid’s shift toward diversified, higher-margin revenue. The company targets roughly $1 billion in annual non-vehicle revenue and more than $2 billion from robotaxi and B2B platform partnerships by the late decade, supported by Level 2–Level 4 autonomy features and subscription offerings.

What role do Uber and Nuro play in Lucid’s robotaxi plans?

Lucid highlighted advanced discussions with Uber to deploy midsize-platform vehicles at a scale similar to its Gravity robotaxi program, with intentions to grow over time. Separately, it described an Uber / Nuro partnership that is progressing toward commercial robotaxi launch, using Lucid’s autonomy-ready, efficient EV platforms.

How large is the market opportunity Lucid is targeting with midsize EVs and autonomy?

Lucid estimates its total addressable market will expand from roughly $40 billion for luxury EV sedans and SUVs to more than $700 billion by 2035. This reflects entry into the premium midsize EV segment, software and services, and a projected $300 billion-plus global robotaxi market excluding China.

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Lucid Group Inc

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LCID Rankings

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LCID Latest News

Mar 12, 2026
Lucid Details Upcoming Midsize Platform and Announces New Recurring Revenue Streams, Outlining a Disciplined Path to Profitable Scale
Mar 11, 2026
Lucid Begins Rolling Out Apple CarPlay® and Android Auto™ to Lucid Gravity via Over-the-Air Update
Mar 9, 2026
Lucid Announces Agenda Ahead of Investor Day on March 12
Mar 9, 2026
Lucid Leadership to Speak at the Cantor Global Technology & Industrial Growth Conference
Feb 24, 2026
Lucid Files Resale Prospectus Supplement

LCID Latest SEC Filings

Mar 5, 2026
[Form 4] Lucid Group, Inc. Insider Trading Activity
Mar 5, 2026
[Form 4] Lucid Group, Inc. Insider Trading Activity
Mar 5, 2026
[Form 4] Lucid Group, Inc. Insider Trading Activity
Feb 24, 2026
[8-K] Lucid Group, Inc. Reports Material Event
Feb 24, 2026
[424B7] Lucid Group, Inc. Prospectus Filed Pursuant to Rule 424(b)(7)

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