Lucid Motors Is Now Starting The Grand Touring Production
Multiple indicators are pointing toward Lucid Motors starting the deliveries for the Grand Tourings soon. This almost certainly means that Lucid Motors is close to the 520 Lucid Air Dream Editions that were estimated to be delivered before the start of the Grand Touring deliveries.
Recently on the Lucid Motors owners forum we have seen multiple users say that their delivery agent from Lucid, had told them the Grand Tourings just went into production so look out for delivery confirmations. This is ultra exciting for Lucid Motors supporters and shareholders. The Grand Tourings are the next step for Lucid Motors in their goal to 20,000 vehicles delivered in 2022.
Key Indicators the Grand Touring is Starting Production
VIN Numbers are now being assigned to customers. This is a huge sign that customers could be receiving their own Grand Tourings in March. It is also important to note that TorqueNews' very own James Walker wrote an article on Lucid Motors bringing in more employees to work the assembly line while production ramps up. This is more likely for the 2022 ramp up than the Quarter 4 delivery numbers.
I mention this because Elon Musk and Tesla have consistently ramped up production before a big earnings call and have also paid overtime and deployed more employees to the assembly line, in order for Tesla to reach the delivery numbers. I do believe that Lucid Motors is using these newly hired employees for the 2022 vehicles, but this is still a great sign that the 20,000 vehicle guidance will be reiterated during Lucid’s Quarter 4 Earning Report that could take place as soon as 2/21/22.
This is very important for Lucid to exceed their deliveries, but it is more important to reiterate their guidance for the 20,000 vehicles that are supposed to be delivered in 2022. As you can see 2022 is a huge year for Lucid Motors. They are going to rapidly expand into different countries and regions across the world. As well as, produce 40 times the amount of vehicles in 2022 then they did in the late part of 2021. We are seeing similar rapid growth with production of their vehicles that Tesla had in 2012-2013.
Bears Workshop Drone Flyover Update
During one of Bear’s recent flyovers a Grand Touring was spotted in the parking lot. You can quickly tell it was a Grand Touring by the vehicle's wheels. Bear’s Workshop has provided the Lucid community with essential drone footage and timely updates that help supporters and investors figure out how many vehicles Lucid could in fact deliver.
All signs point to Lucid missing earnings, but the drone footage and the Grand Tourings going into production are now another story. Could we see a huge earning beat from Lucid Motors and a huge jump for their stock price? We did see Snapchat gain over 60% from their earnings beat. We shall see.
Over The Air Update 1.1.4 for the Lucid Air
In the last few days, Lucid Motors had sent out an over the air update titled 1.1.4, which shows that DreamDrive 1, Navigation, and some customization features are now in the Lucid Airs. It is important to note that cruise control is not yet included in this specific update, but we should learn more about when cruise control will be implemented shortly.
It has been revealed that Lucid Motors will soon release software update 1.1.5 which includes DreamDrive part 2. In this update, Adaptive Cruise Control will be implemented. These software updates are a great indication that Lucid Motors is trending in the right direction. They are silencing the haters every single day, and starting production of the Grand Touring, as well as, the over the air updates, is just the beginning.
My Thoughts About Lucid Motors Grand Touring
If the Grand Tourings are starting to be produced, and every indication is that they have been, that could mean the Lucid Air Dream Editions have completed their limited production. That is a huge next step for Lucid Motors. Although, I do not believe that this will impact the short term price for $LCID, I do see this as a positive for Q4 guidance of the 20,000 vehicles scheduled to be delivered this year.
Plus, the software updates, expansion into Europe, sales in the Middle East and the move to the Asian market in 2023, this is a great year to be a Lucid supporter. The dip down to under $30 is a huge buying opportunity, some of the institutional buying that has been recently spotted is from funds that have $37.50 price per share for $LCID. I believe that if you buy Lucid now, $LCID could triple this year and I still reiterate my $100 price target for Lucid by the start of 2023.
If you enjoyed this content check out this article where I detail Elon Musk's hateful comments towards Lucid Motors, Here: Tesla CEO Elon Musk Takes Shot At Lucid Motors and this article where I dive deep into Lucid’s potential and how $LCID could reach $100 by the end of the year! Check that out here: $LCID to $100.
Anthony Donati focuses on electric vehicles and renewable energy companies. He covers Lucid Motors news at Torque News. Please follow him on Twitter at @TheLucidVerse for daily Lucid Motors news. He has a degree in Business Administration with a concentration in Finance. DISCLAIMER: Anthony is a Lucid Motors (LCID) stock holder.
Image Source: Lucid Media