Saudi Arabia & Lucid in EV Tie Up

The transcript discusses Lucid's plans and targets for 2023, focusing on their luxury market positioning and competition with brands like Tesla. It highlights the target demographics for Lucid's vehicles, emphasizing the higher income bracket required for purchase. The conversation also touches on the cultural and governmental influences in Saudi Arabia, particularly the Vision 2030 initiative, and how these factors impact electric vehicle adoption. Additionally, the transcript addresses production challenges, including supply chain issues and the support from investors like the PIF amid global economic challenges.

What is Lucid Motors' target for 2023?

• To reduce vehicle prices by 2023

• To launch a new vehicle model by 2023

• To start delivering fleet vehicles by Q2 2023

• To deliver all vehicles by Q1 2023

How does Lucid Motors position itself in the market?

• As a manufacturer of commercial vehicles

• As a luxury vehicle manufacturer

• As a competitor to entry-level vehicles

• As a budget-friendly vehicle manufacturer

Who is the target demographic for Lucid Motors in Saudi Arabia?

• Middle-income millennials

• High-income individuals

• Low-income families

• College students

What cultural shift is occurring in Saudi Arabia regarding vehicles?

• A shift towards diesel vehicles

• A shift towards hybrid vehicles

• A shift towards electric vehicles

• A shift towards smaller vehicles

How has the Saudi government supported Lucid Motors?

• By providing financial subsidies

• By offering free advertising

• By reducing import taxes

• By preparing the environment and supply chain

What is one of the main challenges faced by Lucid Motors?

• Competition from local manufacturers

• High production costs

• Supply chain disruptions

• Lack of demand for electric vehicles

How is Lucid Motors addressing supply chain issues?

• By outsourcing all production

• By increasing prices

• By reducing production targets

• By keeping core technology in-house