At a well-attended session for investors in lower Manhattan March 12, Lucid Motors did its best to paint a portrait of a company that—while it has not yet made money—is nonetheless on a trajectory to do so, with a range of compelling projects (including affordable ones), big autonomy plans, and a stringent “radical efficiency” ethos.

Lucid showed off Lunar, a robotaxi prototype that depends on Level 4, which the company says it will have in 2029. (Jim Motavalli photo)
Taoufig Boussaid, Lucid’s chief financial officer, said the company “is at the end of a cycle where we have been investing heavily, a period of cash burn. Now we’re in the cycle in which we’ll be harvesting the fruits of the investment.”
Erwin Raphael, senior vice president of global revenue at Lucid Motors, described the financial situation another way, saying Lucid, financed by Saudi Arabia’s Public Investment Fund to the tune of $9 billion so far, is “at the bottom of what we call the Trough of Disillusionment.”
Boussaid predicted the company would reach profitability, or what he called “positive free cash flow,” late in the decade. The elements that will make it happen include a new midsized model, the Cosmos, another to-be-revealed midsized model called Earth that shares a lot of parts, a third (unnamed) vehicle on the same platform, robotaxi deployment, new global markets added, and a high priority on reducing expenses. “We’re going after every dollar,” he said.

Lunar’s interior lacks pedals and a steering wheel. (Jim Motavalli photo)
Derek Jenkins, Lucid’s design and brand senior vice president, said the Cosmos is for “upscale nurturers,” and the presumably sportier Earth for “trendsetting achievers.”
Lucid cars have been fairly expensive (the Air starts at $72,400, and the Gravity SUV at $81,550). but the company will be competitive if it indeed brings the Cosmos (and then the Earth) in under $50,000.

The Gravity robotaxi is scheduled for Uber deployment by the end of the year. (Jim Motavalli photo)
The Cosmos was designed to cut costs to the bone, using a new drivetrain called Atlas that reduces total part content by 30 percent compared to previous models. It also has 40 percent greater power density, said Emad Diala, senior vice president of engineering and software autonomy. He really got into the weeds: The car will use steel stampings, aluminum casting and giga-casting in a secret sauce, and have 65 percent fewer joints than Gravity.
The Cosmos is also expected to get 4.5 miles out of a kilowatt-hour of electricity, and add 200 miles of range in 14 minutes. Zero to 60 will be achieved in 3.5 seconds. Lucid will produce Cosmos cars at its new under-construction plant in Saudi Arabia, and also at the home manufacturing base in Phoenix.
Interim CEO Marc Winterhoff said the Cosmos will have a lower bill of materials (BOM) than the coyly identified “Chinese competitor that everyone is talking about,” and will also beat out a “U.S. EV leader’s midsized CUV.” He promised “comparable cost [to those cars] with longer range [approximately 300 miles],” and said the forthcoming Earth will look very different from the Cosmos, despite being similar under the skin, and “will address different customer segments.”

Uber’s Andrew MacDonald (left) in the Lunar with Marc Winterhoff, Lucid’s interim CEO. (Jim Motavalli photo)
Winterhoff showed off the robotaxi version of the Gravity, a partnership with Nuro and Uber, at CES in January. In Manhattan, Lucid brought in Uber President and Chief Operating Officer Andrew MacDonald to issue a progress report. Approximately 80 of the robotaxis have been delivered for Uber’s testing, and they should be taking paying customers by the end of 2026.
“Uber is the largest mobility platform in the world,” MacDonald said, “and with Lucid’s autonomous vehicles our trips will be much safer and help us realize true mobility as a service.” Lucid, he said, is “going about autonomy the right way, though there are still edge cases to be worked out.”
In New York, announced that it would be offering its DreamDrive Pro Level 2 plus autonomous software for $69 to $199 per month—another revenue source! Lucid also unveiled a smaller and more fanciful (no doors) robotaxi prototype. Lunar seats two abreast and lacks a steering wheel, pedals and other features associated with driver control. It sits on the Midsized platform, also, but any actual production version would be dependent of Lucid fully developing its Level 4 autonomy.
Speaking of that, Kai Stepper, vice president of autonomy and ADAS, showed a timetable that had Lucid developing point-to-point autonomy (L2++) this year, Level 3 in 2028 and Level 4 in 2029. Lucid has invested $500 million in autonomy, which it said is a bargain compared to the billions other companies have shelled out. It’s that radical efficiency they were talking about.
It was in that context that Lucid showed off the star of the event, Lunar, a prototype robotaxi that seats two and is designed for full autonomy, minus a steering wheel, pedals, or anything else you’d need to actually drive it old school. It’s not actually slated for production, but if Stepper’s timetable is accurate it could be viable in 2029. And it’s yet another Lucid built on the Midsized platform.






















































