Lates News

American electric vehicle manufacturer Lucid announced during its first investor day event in nearly five years of being listed that the company plans to achieve positive free cash flow in the later part of this decade by expanding its vehicle lineup and significantly increasing its software and technology services targets. Lucid CEO Winterhoff and Uber President and COO Andrew Macdonald announced that they will expand their existing partnership to include the upcoming midsize vehicle in their Robotaxi collaboration plan. Winterhoff stated that the company's autonomous driving technology is expected to reach a level comparable to Tesla's current FSD system as early as next year. With the development of midsize vehicles and autonomous driving technology, Lucid's total addressable market (TAM) is expected to significantly increase from the current $40 billion for the Air sedan and Gravity SUV to approximately $700 billion.