Lucid Gravity Touring priced from $79,900, with Grand Touring trim priced from $94,900 and scheduled to start production in late 2024

NEWARK, Calif., Oct. 29, 2024 /PRNewswire/ -- Lucid Group, Inc. (NASDAQ:LCID), maker of the world's most advanced electric vehicles, today announced customer orders for the Lucid Gravity will open on November 7, 2024, at 9:00 am Pacific Time. Orders will initially be taken for the Grand Touring trim, priced from $94,900 and offering more than 800 horsepower and a projected range surpassing 440 miles.¹The Lucid Gravity Grand Touring is scheduled to begin production in late 2024 and the Lucid Gravity Touring is planned for late 2025, with pricing starting at $79,900.

"There is a growing anticipation for Lucid Gravity's unprecedented combination of versatility, performance, design, and all-around capability," said Peter Rawlinson, CEO at Lucid. "This is uniquely enabled through our revolutionary technology. We look forward to bringing the world's most advanced SUV to the world soon."

On November 7, orders will open for customers in the U.S., with current Lucid owners given priority for taking delivery of their Lucid Gravity. Customers will be able to design, configure, and order their vehicle directly from Lucid's website.

The Lucid Gravity is designed to be the best SUV ever with space for up to seven adults plus all their gear. Lucid Gravity offers up to 120 cubic feet of total usable cargo space, including the frunk. An optional frunk seat can accommodate two adults while the vehicle is parked.

Lucid Gravity draws upon Lucid's renowned electric powertrain technology, including in-house electric motors. Lucid Gravity's extraordinary efficiency enables a projected range surpassing 440 miles¹ with a battery pack capacity similar to that of the 2025 Lucid Air Grand Touring. This enables a confident and agile driving experience and exceptional interior spaciousness. An optional three-chamber air suspension adapts to changing terrain, ensuring a smooth and comfortable ride and precise handling.

Information about Lucid Gravity pricing, ordering, and deliveries for markets outside the U.S. will be released later.

About Lucid Group

Lucid (NASDAQ:LCID) is a Silicon Valley-based technology company focused on creating the most advanced EVs in the world. The flagship vehicle, Lucid Air, delivers best-in-class performance and efficiency is priced from $69,900, in the U.S. Lucid is currently preparing its state-of-the-art, vertically integrated factory in Arizona to begin production of the Lucid Gravity SUV. The company's goal is to accelerate humanity's transition to sustainable transportation and energy through the creation of the most advanced EVs.

^*All prices noted are for U.S. market only and exclude tax, title, license, options, destination and documentation fees.

¹ Manufacturer's projected estimate for longest range trim and configuration. EPA estimates will be provided when available. Range and battery power vary with temperature, driving habits, charging, and battery condition, and actual results will vary.

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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 plans and expectations with respect to commercial product launches, including the Lucid Gravity Grand Touring and Touring models, start of production timing, timing of opening up orders, plans for delivery priority, starting prices, features, capabilities, ranges, and the promise of Lucid's technology. 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 heading "Risk Factors" in Part II, Item 1A of Lucid's Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, as well as 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.

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SOURCE Lucid Group

Lucid Gravity Orders to Open November 7, 2024