UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933(§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
| Item 2.02 | Results of Operations and Financial Condition. |
On October 12, 2022, Lucid Group, Inc. issued a press release. A copy of the press release is attached as Exhibit 99.1 to this current report on Form 8-K and is incorporated by reference herein.
The information in this current report on Form 8-K and the exhibits attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit Number |
Description of Exhibit | |
| 99.1 | Press Release of Lucid Group, Inc., dated October 12, 2022. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Dated: October 12, 2022 | ||
| Lucid Group, Inc. | ||
| By: | /s/ Sherry House | |
| Name: Sherry House | ||
| Title: Chief Financial Officer | ||
Exhibit 99.1
Lucid Produced 2,282 vehicles in Q3 2022, on Track for 2022 Annual Production Guidance of 6,000 to 7,000 vehicles
| · | 2,282 Vehicles Produced in Q3, More Than Triple Q2 Production |
| · | Set to Report Third Quarter Financial Results on Tuesday, November 8, 2022 |
NEWARK, CA — October 12, 2022 — Lucid Group, Inc. (NASDAQ: LCID), setting new standards with the longest-range, fastest-charging electric car on the market, today announced preliminary production and delivery totals for the quarter ended September 30, 2022. The company produced 2,282 vehicles during Q3 at its manufacturing facility in Arizona, more than tripling the number produced in Q2, and delivered 1,398 vehicles during the same period.*
These figures remain in line with the company’s expectations, and Lucid believes it is on track to deliver on its previously provided 6,000 to 7,000 vehicle production guidance for full year 2022.
Lucid will host a conference call to discuss its third quarter 2022 financial results on Tuesday, November 8, 2022, at 2:30 pm PT / 5:30 pm ET. Prior to the conference call, the company will issue an earnings press release with a link to the live webcast on its investor relations website, ir.lucidmotors.com.
To enhance engagement with the company’s shareholder base and facilitate connections with its investors, Lucid is partnering with Say Technologies to allow retail and institutional shareholders to submit and upvote questions, a selection of which will be answered by Lucid management during the earnings call.
Starting on October 25 at 2:30 pm PT / 5:30 pm ET, all shareholders can submit questions by visiting: https://app.saytechnologies.com/lucid-group-2022-q3/. This Q&A platform will remain open until 24 hours before the start of the earnings call. Shareholders can email support@saytechnologies.com for any support inquiries.
Earnings Call Details:
Date
Tuesday, November 8, 2022
Time
2:30 pm PT; 5:30 pm ET
Live Broadcast and Replay
Lucid is pleased to offer a live audio broadcast of the conference call at ir.lucidmotors.com, with an archived version of the webcast also available shortly after the completion of the call.
About Lucid Group
Lucid’s mission is to inspire the adoption of sustainable energy by creating advanced technologies and the most captivating luxury electric vehicles centered around the human experience. The company’s first car, Lucid Air, is a state-of-the-art luxury sedan with a California-inspired design that features luxurious full-size interior space in a mid-size exterior footprint. Underpinned by race-proven battery technology and proprietary powertrains developed entirely in-house, Lucid Air was named the 2022 MotorTrend Car of the Year®. The Lucid Air Grand Touring features an official EPA estimated 516 miles of range or 1,050 horsepower. Customer deliveries of Lucid Air, which is produced at Lucid’s new factory in Casa Grande, Arizona, are underway.
Investor Relations Contact
investor@lucidmotors.com
Media Contact
media@lucidmotors.com
Trademarks
This communication contains trademarks, service marks, trade names and copyrights of Lucid Group, Inc. and its subsidiaries and other companies, which are the property of their respective owners.
*Lucid’s net income and cash flow results will be announced along with the rest of its financial performance when Lucid announces third quarter earnings. Lucid’s production and delivery numbers for the quarter ended September 30, 2022 are still being finalized. Lucid vehicle production and delivery numbers represent only one measure of the company’s operating performance and should not be relied on as sole indicators of quarterly financial results, which depend on a variety of factors.
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 Lucid’s expectations related to production and delivery volume outlook and Lucid’s finalized production and delivery totals for the quarter ended September 30, 2022. 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, 2022, 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.
Cover |
Oct. 12, 2022 |
|---|---|
| Cover [Abstract] | |
| Document Type | 8-K |
| Amendment Flag | false |
| Document Period End Date | Oct. 12, 2022 |
| Entity File Number | 001-39408 |
| Entity Registrant Name | Lucid Group, Inc. |
| Entity Central Index Key | 0001811210 |
| Entity Tax Identification Number | 85-0891392 |
| Entity Incorporation, State or Country Code | DE |
| Entity Address, Address Line One | 7373 Gateway Boulevard |
| Entity Address, City or Town | Newark |
| Entity Address, State or Province | CA |
| Entity Address, Postal Zip Code | 94560 |
| City Area Code | 510 |
| Local Phone Number | 648-3553 |
| Written Communications | false |
| Soliciting Material | false |
| Pre-commencement Tender Offer | false |
| Pre-commencement Issuer Tender Offer | false |
| Title of 12(b) Security | Class A Common Stock, $0.0001 par value per share |
| Trading Symbol | LCID |
| Security Exchange Name | NASDAQ |
| Entity Emerging Growth Company | false |
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