Following its massive 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 Edition was originally scheduled to begin deliveries this spring. It now appears it will debut sometime in the second half of 2021.
Bloomberg‘s Ed Ludlow tweeted that Lucid’s Air, Dream Edition, the first EV to debut for the automaker, will be delayed. This information, among many other details, was revealed by Lucid’s CEO Peter Rawlinson, in an interview with Ludlow.
Lucid’s SPAC merger offers time to get Air right
In the interview, Rawlinson speaks candidly about the decision to push the debut of Lucid’s first EV. He also explains that a number of factors went into the decision, especially after its recent merger with SPAC CCIV. Additionally, Rawlinson goes on to share what the automaker has planned after the Lucid Air, Dream Edition does eventually get delivered.
Speaking digitally with Ed Ludlow, Rawlinson admits he was pushing hard toward the spring deadline for the Dream Edition luxury sedan. He describes recently riding in the first Lucid Air off the assembly line with the Churchill Capital Team. This included founder Michael Klein and former Ford Motors CEO Alan Mulally.
Rawlinson said the CCIV team told him that Lucid Motors should take its time to get the first Air right. They also told him it’s OK if production rolls into the second half of the year. The Lucid CEO describes the conversation as “being freed.” It gave him the liberty to decide when to pull the trigger on deliveries.
This thought process makes sense for an emerging EV manufacturer promoting its fleet as luxury. Rawlinson makes a rare mention of Tesla, describing its release of the Model S sedan nearly a decade ago. He said, at the time EVs were still new and fun, and people were more forgiving toward early quality issues. He explains that people are not so forgiving now, especially for a new brand promising top-end luxury.
COVID-19 remains a factor in Lucid’s delays
The blessing (and bankroll) from Churchill Capital Corp IV appears to be a welcome delay for Rawlinson. In reality, it garners additional time to tweak the Dream Edition, which benefits costumers. Contrarily, there are still factors that are out of Lucid Motors’ hands contributing to production delays of the Air.
Rawlinson admits that the US automaker is still chasing down over 3,000 parts from over 250 vendors worldwide. Over a year into the global pandemic, many companies, including automakers, are faced with delays from international vendors.
One component Lucid does not seem to be short of, however, is semiconductors. The CEO said the global semiconductor shortage hasn’t personally affected Lucid Motors. He then revealed its purchase teams preempted the shortage, and made savvy supply agreements to mitigate the risk of running out of chips. Many automakers around the world, like Tesla, have not been so fortunate.
When will Lucid Motors’ Air, Dream Edition debut?
That question remains uncertain. As of right now, deliveries of the Dream Edition Air could begin a few days into Q3 2021, or they could begin right before the end of the year. Lucid will not commit to a timeline at this point. From all the the answers given by Peter Rawlinson, Lucid Motors feels confident with its extra time and additional funding. But hey, he’s the CEO. He’s gotta appear cool and confident under any circumstances, right?
He also stated that the $4.5 billion from the SPAC merger will give the automaker a clear runway through 2023. That’s when Lucid plans to begin phase two of its new factory, paving the way for its upcoming Project Gravity SUV.
Check back in with our Lucid Motors guide for updates regarding the Air, Dream Edition delivery and all other things related to the automaker.
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