Following its huge merger with SPAC Churchill Capital Corp IV ($CCIV), Lucid Motors’ CEO revealed that deliveries of its first EV have been delayed. The Lucid Motors Air, Dream Version was initially scheduled to start deliveries this spring. It now seems it’s going to debut someday within the second half of 2021.
Bloomberg‘s Ed Ludlow tweeted that Lucid’s Air, Dream Version, the primary EV to debut for the automaker, will likely be delayed. This data, amongst many different particulars, was revealed by Lucid’s CEO Peter Rawlinson, in an interview with Ludlow.
Lucid has delayed begin of manufacturing from “the spring” till the second half of 2021 however wont decide to a date for begin of manufacturing. $CCIV
— Ed Ludlow (@EdLudlow) February 23, 2021
Lucid’s SPAC merger presents time to get Air proper
Within the interview, Rawlinson speaks candidly concerning the resolution to push the debut of Lucid’s first EV. He additionally explains that various components went into the choice, particularly after its current merger with SPAC CCIV. Moreover, Rawlinson goes on to share what the automaker has deliberate after the Lucid Air, Dream Version does finally get delivered.
Talking digitally with Ed Ludlow, Rawlinson admits he was pushing arduous towards the spring deadline for the Dream Version luxurious sedan. He describes just lately using within the first Lucid Air off the meeting line with the Churchill Capital Group. This included founder Michael Klein and former Ford Motors CEO Alan Mulally.
Rawlinson stated the CCIV crew instructed him that Lucid Motors ought to take its time to get the primary Air proper. Additionally they instructed him it’s OK if manufacturing rolls into the second half of the yr. The Lucid CEO describes the dialog as “being freed.” It gave him the freedom to resolve when to drag the set off on deliveries.
This thought course of is smart for an rising EV producer selling its fleet as luxurious. Rawlinson makes a uncommon point out of Tesla, describing its launch of the Mannequin S sedan almost a decade in the past. He stated, on the time EVs had been nonetheless new and enjoyable, and folks had been extra forgiving towards early high quality points. He explains that persons are not so forgiving now, particularly for a brand new model promising top-end luxurious.
Lucid Motor’s Air Dream Version sedan
COVID-19 stays a consider Lucid’s delays
The blessing (and bankroll) from Churchill Capital Corp IV seems to be a welcome delay for Rawlinson. In actuality, it garners extra time to tweak the Dream Version, which advantages costumers. Contrarily, there are nonetheless components which can be out of Lucid Motors’ arms contributing to manufacturing delays of the Air.
Rawlinson admits that the US automaker remains to be chasing down over 3,000 components from over 250 distributors worldwide. Over a yr into the worldwide pandemic, many firms, together with automakers, are confronted with delays from worldwide distributors.
One element Lucid doesn’t appear to be wanting, nonetheless, is semiconductors. The CEO stated the worldwide semiconductor scarcity hasn’t personally affected Lucid Motors. He then revealed its buy groups preempted the scarcity, and made savvy provide agreements to mitigate the chance of working out of chips. Many automakers around the globe, like Tesla, haven’t been so lucky.
When will Lucid Motors’ Air, Dream Version debut?
That query stays unsure. As of proper now, deliveries of the Dream Version Air might start a number of days into Q3 2021, or they might start proper earlier than the top of the yr. Lucid won’t decide to a timeline at this level. From all of the the solutions given by Peter Rawlinson, Lucid Motors feels assured with its further time and extra funding. However hey, he’s the CEO. He’s gotta seem cool and assured below any circumstances, proper?
He additionally acknowledged that the $4.5 billion from the SPAC merger will give the automaker a transparent runway by way of 2023. That’s when Lucid plans to start part two of its new manufacturing facility, paving the way in which for its upcoming Undertaking Gravity SUV.
Test again in with our Lucid Motors information for updates concerning the Air, Dream Version supply and all different issues associated to the automaker.
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Natasha Kumar has been a reporter on the news desk since 2018. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Times Hub, Natasha Kumar worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my firstname.lastname@example.org 1-800-268-7116