Elon Musk hinted that Lucid Motors, an electric car startup company spun off from Tesla, may not be far from closing down.

Yesterday, Business Insider leaked an email from Lucid Motors that contained an extremely aggressive tactic the company implemented to keep customers from canceling reservations for its Air electric sedan.

Reservations for Lucid electric vehicles fell to 34,000 in the third quarter from 37,000 in the second quarter, which the company attributed to some orders being delivered but some customers canceling their reservations.

Lucid said in the email that "every customer cancels an order is a failure for us" and outlined a very aggressive strategy to avoid "failure", such as calling customers a dozen times "serial call".

Many people, including Tesla CEO Elon Musk, see this aggressive approach as a dire signal for the company. On December 9, Musk tweeted, “They are living in this world Not long," meaning they're about to go out of business.

Musk said earlier this year that two electric car startups, Lucid and Rivian, were "going bankrupt."

AndroBliz understands that Lucid has close ties with Tesla, and it can even be said that it is the first electric vehicle startup to "split" from Tesla. The company was founded by former Tesla executives and board members, and is now led by Peter Rawlinson, who was chief engineer before the Model S came to market.

After a decade of development, Lucid finally started producing the Lucid Air, an electric sedan to compete with Tesla's Model S, last year, and the company is on track to produce 6,000 to 7,000 Air electric sedans by 2022.

From a financial standpoint, things aren't rosy for Lucid, but they aren't too bad either. Last quarter, the company lost $500 million, but it still has about $3 billion in cash and short-term investments.
Axact

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