The Lucid show is seen on the New York Worldwide Auto Present on April 16, 2025.
Danielle DeVries | CNBC
NEW YORK — Lucid Group expects to be money move constructive late this decade because it plans to develop its car lineup and considerably improve its software program and expertise choices, the all-electric car maker introduced Thursday throughout its first investor day in almost 5 years as a public firm.
The EV firm goals to perform constructive money move technology by market enlargement into midsize automobiles and robotaxis, in addition to worldwide enlargement in markets resembling Europe and Saudi Arabia. It additionally expects to realize effectivity positive factors and software program income development with the introduction of improved superior driver help methods and a brand new Lucid synthetic intelligence assistant, executives advised dozens of buyers and Wall Avenue analysts on Thursday.
Lucid inventory closed Thursday at $9.84, down 7.9%. Shares had been off roughly 6% to eight% throughout a lot of the occasion regardless of the corporate giving its most detailed product and enlargement plans to this point, highlighting the powerful market circumstances for EV firms.
“We view the midterm and late decade targets as an essential benchmark towards which buyers can measure LCID’s progress which is able to enhance transparency,” Baird analyst Ben Kallo mentioned in a Thursday investor be aware. “The near-term backdrop for EVs stays difficult with headwinds resembling tariffs and coverage muting investor sentiment.”
Lucid’s money move goal is difficult given the automaker’s present efficiency and waning demand for EVs within the U.S. Whereas Lucid has been capable of improve gross sales and slender losses, the corporate misplaced $2.7 billion on income of $1.35 billion in 2025. It had adverse free money move of $3.8 billion in 2025, a loss that was roughly 31% bigger than a yr earlier.
Lucid interim CEO Marc Winterhoff — who unexpectedly took over for firm founder Peter Rawlinson final yr — mentioned the corporate’s “north star” is “accelerating to profitability,” reiterating the investor occasion’s theme. He and different executives declined to reveal an actual yr the corporate goals to be money move constructive.
The automaker has been attempting to extend investor curiosity within the firm because it prepares to launch a brand new midsize car on the finish of this yr. Its largest shareholder, Saudi Arabia’s Public Funding Fund, has additionally modified its funding technique within the firm from capital funding to revolving credit score.
Robotaxi, autonomy plans
Lucid on March 12, 2026, previewed plans for a brand new two-seat robotaxi that the corporate is creating off its upcoming midsize electrical car platform.
Michael Wayland / CNBC
Lucid on Thursday mentioned it expects to realize roughly $1 billion in annual incremental, non-vehicle income by companies resembling recurring software program subscriptions by later this decade. It additionally previewed plans for a two-seat robotaxi, together with a design idea automobile, but it surely didn’t specify a timeframe for the car.
Winterhoff advised CNBC after the occasion that the devoted robotaxi is a “mid-term” goal for the corporate within the coming years.
Firm executives spent a big quantity of the occasion discussing Lucid’s upcoming driving applied sciences, together with robotaxis, and plans to launch a subscription service by early 2027 that may vary from $69 to $199 a month, based mostly on capabilities.
“Autonomy performs an out of doors function in the way forward for Lucid,” mentioned Kay Stepper, Lucid vp of superior driving methods, including that the corporate plans to supply automobiles able to driving themselves underneath sure circumstances by 2029.
Winterhoff and Uber President and Chief Working Officer Andrew Macdonald on Thursday introduced they’re planning to develop a beforehand introduced tie-up for robotaxis to incorporate upcoming midsize automobiles.
Enlargement into midsize and autonomy is predicted to considerably improve Lucid’s whole addressable market, or TAM, from $40 billion for its present Air sedan and Gravity SUV to $700 billion, executives mentioned Thursday.
Winterhoff mentioned he sees the corporate’s autonomy applied sciences primarily rising to match Tesla’s present FSD by subsequent yr.
Midsize automobiles
Lucid on Thursday mentioned it plans to provide three midsize automobiles, beginning with a car known as Cosmos this yr, adopted by a mannequin known as Earth roughly a yr later and an unnamed car throughout an unspecified time-frame after that.
“We predict these three distinctive merchandise will give us most alternative to hit the widest viewers doable. And that viewers is the place we’re at present, but it surely’s a special viewers than our present market,” mentioned Derek Jenkins, Lucid senior vp of design and model.
A Lucid-supplied teaser picture of its upcoming midsize car behind its present Gravity SUV.
Lucid
A preview of the Cosmos proven to occasion attendees Thursday featured a extra muscular look with thinner headlights and a silhouette harking back to the automaker’s present Gravity SUV however in smaller packaging. The inside of the car continues Lucid’s concentrate on a spacious cabin with vital storage and a big one-piece display traversing many of the automobile’s entrance sprint.
The three midsize automobiles are focused at upscale patrons, youthful “trendsetting achievers” and outside lovers, Jenkins mentioned. The final could be a direct competitor to fellow EV competitor Rivian Automotive, which is predicted to launch a brand new R2 midsize car this spring, starting with a roughly $58,000 model of the car.
Lucid has mentioned its midsize car is predicted to start at roughly $50,000. That might place it consistent with the common transaction costs of recent automobiles within the U.S. in addition to entry-level fashions of Rivian’s R2.
Each Rivian and Lucid are trying to reassure buyers that they cannot solely compete in a troubled EV market however thrive by the enlargement of recent automobiles and applied sciences to raised compete towards U.S. EV chief Tesla. Lucid mentioned its new midsize EV platform can be class-leading in effectivity, one thing the corporate has strived to do with all its automobiles.
Each have touted having sufficient capital to get them by near-term initiatives however their long-term viability remains to be a significant query for buyers.
Lucid has mentioned its whole liquidity of $5.5 billion, together with a roughly $2 billion delayed draw time period mortgage credit score facility from Saudi’s PIF, is sufficient to get by the primary half of 2027.
Rivian ended the fourth quarter with $6.59 billion in whole liquidity, together with almost $6.1 billion in money, money equivalents and short-term investments, as the corporate makes an attempt to ramp up manufacturing this yr of its midsize car and new autonomy applied sciences.
— CNBC’s Michael Bloom contributed to this report.
