Lucid Motors builds what many critics call the best electric vehicles in the world, yet the company is burning through billions while struggling to find buyers. Despite industry-leading range, cutting-edge technology and luxury finishes, the Lucid Air has fallen short of sales expectations. After posting a nearly $1 billion net loss last quarter, pressure is mounting for its new Gravity SUV to help turn the business around. But a year of supply-chain disruptions and production challenges has slowed Lucid’s ability to scale its three-row SUV. The company says the worst is behind it, even as it pushes into robotaxis through a partnership with Uber and autonomous tech startup Nuro — a deal that brought a $300 million investment and a commitment to buy 20,000 Gravity vehicles. CNBC’s Robert Ferris gets exclusive access inside Lucid’s Arizona factory and speaks with interim CEO Mark Winterhoff about how the EV-maker plans to change its fortunes.
Chapters:
0:00 – Introduction
2:54 – Chapter 1. Launching a new EV brand
5:38 – Chapter 2. Gravity production
10:10 – Chapter 3. Gravity test drive
11:56 – Chapter 4. Expansion plans
14:54 – Chapter 5. Entering the robotaxi race
16:20 – Chapter 6. Can Lucid survive?
Produced, Shot and Edited by: Andrew Evers
Reporter: Robert Ferris
Senior Director of Video: Jeniece Pettitt
Additional Camera: Tony Puyol
Animation: Jason Reginato, Emily Park
Additional Footage: Lucid Motors, Getty Images, Nuro
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Watch CNBC on the go with CNBC+: https://www.cnbc.com/WatchCNBCPlus
About CNBC: From ‘Wall Street’ to ‘Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
Want to level up your AI skills? Sign up for Smarter by CNBC Make It’s new online course, How To Use AI To Communicate Better At Work. Get specific prompts to optimize emails, memos and presentations for tone, context and audience. Sign up today: https://cnb.cx/47ELu8O
Connect with CNBC News Online
Get the latest news: https://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC on Threads: https://cnb.cx/threads
Follow CNBC News on X: https://cnb.cx/FollowCNBC
Follow CNBC on WhatsApp: https://cnb.cx/WhatsAppCNBC
#CNBC
We Got A Behind-The-Scenes Look At Lucid’s Turnaround Plan
source
