Strategic Profiling of Lucid Motors

Strategic Profiling of Lucid Motors

Though High Pricing and a Limited Product Range Currently Hinder Lucid's Growth, Expansion into Saudi Arabia, Focus on Technology Licensing, and New Product Launches are Anticipated to Boost Future Growth Potential

RELEASE DATE
30-Jan-2024
REGION
Global
Deliverable Type
Market Research
Research Code: PF97-01-00-00-00
SKU: AU_2023_553
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$4,950.00
In stock
SKU
AU_2023_553

Strategic Profiling of Lucid Motors
Published on: 30-Jan-2024 | SKU: AU_2023_553

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This strategic profiling study explores Lucid’s journey as an electric vehicle (EV) automaker and examines its key business models, revenue streams, technology and growth partnerships, and market strategies in the United States, Europe, Saudi Arabia, and China. The study analyzes the company's product portfolio, connected features, and DreamDrive's (its autonomous platform) capabilities and offers a vehicle specification and comparative pricing analysis as well as a detailed analysis of its Lucid Electric Advanced Platform (LEAP). The research delves into a comprehensive examination of the company's financials, production and delivery metrics, strategies for geographic expansion, and initiatives aimed at addressing internal challenges. It also assesses potential growth opportunities for the company.

Lucid’s experience as a battery manufacturer and its technological know-how in power train, charging technology, and battery packs are key growth drivers for the company, allowing it to establish itself in the competitive EV market. Lucid receives most of its financial support from the Saudi Arabian Public Investment Fund (PIF), enabling it to accelerate R&D efforts, increase production capabilities, and support geographic expansion initiatives.

At present, Lucid manufactures the Air luxury sedan car in 5 variants—Pure RWD, Pure AWD, Grand Touring, Grand Touring Performance, and Sapphire. The vehicle claims the longest range of 516 miles in the EV market when compared to competitors, including Tesla and Porsche. Production of the upcoming Gravity model, a 7-seater SUV, is slated to commence in late 2024, with the vehicle already garnering significant consumer interest. In future, Lucid also intends to produce mid-size SUVs, premium sedans, and pickup vehicles to reach a wider audience.

As part of its long-term goal, Lucid aims to grow in the Middle Eastern market, especially in Saudi Arabia. The company also aims to strengthen its presence in key European markets, such as Germany, Switzerland, Norway, and the Netherlands. It is assessing local production plans for and entry strategies into the highly competitive Chinese market but with an unknown timeline.

Lucid has begun to capitalize on its strengths; it has started licensing its proprietary technology platform to other OEMs, such as Aston Martin, suppliers, and Formula E racing teams. In the long run, apart from vehicle production activities, the company plans to establish its position as an EV technology supplier in the automotive market.

Author: Dorothy Amy

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on Lucid Motors

Growth Opportunities Fuel the Growth Pipeline Engine™

Scope of Analysis

Growth Drivers

Growth Restraints

Key Findings

In-house Technology Expertise

Key Revenue Streams

Saudi Arabian Backing

Office Locations and International Expansion

Technology Licensing—Partnership with Aston Martin

Pure EV OEM Mapping: Product Breadth versus Pricing

SWOT Analysis

Current versus Future Outlook

Company Overview

Lucid’s Journey—A Timeline

Management Team

Vehicle Manufacturing Facilities—AMP 1 and AMP 2

Powertrain Manufacturing Facility—LPM 1

Technological Capabilities—In-house versus Outsourced

Partner Ecosystem

Future Growth Strategy and Vision, 2024–2030

Vehicle Model Portfolio—Key Features and Pricing

Lucid Air Pure versus Competing Offerings—An Analysis

Lucid Air Grand Touring versus Competing Offerings—An Analysis

Lucid’s Pricing Range versus the Competition

Competitor Mapping in the United States

Retail and Service Centers—Direct Approach

Customer Purchase Experience at Online and Offline Stores

Vehicle Delivery Experience

Product Vision—Future Outlook, 2024–2030

Connected Services

DreamDrive—Lucid’s Autonomous Driving Platform

DreamDrive Features and Cost Comparison

Lucid Electric Advanced Platform (LEAP)

Bidirectional Charging Applications

Charging Infrastructure Partners

Vehicle Recalls and Impact, 2023

Market Strategy

EV OEMs’ Product Breadth Analysis

Lucid’s Expansion in Europe

Lucid’s Strategy in Saudi Arabia

Lucid’s Plans to Enter China

Vehicle Production and Deliveries—2022 versus 2023

Financial Analysis

Investor Outlook

Current Challenges and How Lucid Plans to Overcome Them

Growth Opportunity 1—EV Technology Licensing

Growth Opportunity 1—EV Technology Licensing (continued)

Growth Opportunity 2—Prioritizing Cost Cutting and Reducing Manufacturing Costs

Growth Opportunity 2—Prioritizing Cost Cutting and Reducing Manufacturing Costs (continued)

Growth Opportunity 3—Business Diversification and New Business Models

Growth Opportunity 3—Business Diversification and New Business Models (continued)

Your Next Steps

Why Frost, Why Now?

List of Exhibits

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This strategic profiling study explores Lucid s journey as an electric vehicle (EV) automaker and examines its key business models, revenue streams, technology and growth partnerships, and market strategies in the United States, Europe, Saudi Arabia, and China. The study analyzes the company's product portfolio, connected features, and DreamDrive's (its autonomous platform) capabilities and offers a vehicle specification and comparative pricing analysis as well as a detailed analysis of its Lucid Electric Advanced Platform (LEAP). The research delves into a comprehensive examination of the company's financials, production and delivery metrics, strategies for geographic expansion, and initiatives aimed at addressing internal challenges. It also assesses potential growth opportunities for the company. Lucid s experience as a battery manufacturer and its technological know-how in power train, charging technology, and battery packs are key growth drivers for the company, allowing it to establish itself in the competitive EV market. Lucid receives most of its financial support from the Saudi Arabian Public Investment Fund (PIF), enabling it to accelerate R&D efforts, increase production capabilities, and support geographic expansion initiatives. At present, Lucid manufactures the Air luxury sedan car in 5 variants Pure RWD, Pure AWD, Grand Touring, Grand Touring Performance, and Sapphire. The vehicle claims the longest range of 516 miles in the EV market when compared to competitors, including Tesla and Porsche. Production of the upcoming Gravity model, a 7-seater SUV, is slated to commence in late 2024, with the vehicle already garnering significant consumer interest. In future, Lucid also intends to produce mid-size SUVs, premium sedans, and pickup vehicles to reach a wider audience. As part of its long-term goal, Lucid aims to grow in the Middle Eastern market, especially in Saudi Arabia. The company also aims to strengthen its presence in key European markets, such as Germany, Switzerland, Norway, and the Netherlands. It is assessing local production plans for and entry strategies into the highly competitive Chinese market but with an unknown timeline. Lucid has begun to capitalize on its strengths; it has started licensing its proprietary technology platform to other OEMs, such as Aston Martin, suppliers, and Formula E racing teams. In the long run, apart from vehicle production activities, the company plans to establish its position as an EV technology supplier in the automotive market. Author: Dorothy Amy
More Information
Deliverable Type Market Research
Author Dorothy Amy
Industries Automotive
No Index No
Is Prebook No
Keyword 1 Lucid Motors Analysis
Keyword 2 Automotive Technology Trends
Keyword 3 Lucid Motors Strategy
Podcast No
WIP Number PF97-01-00-00-00