That’s $650 million, to be precise.
If you ever wondered how many Air units had been reserved so far, Lucid never told us anything about that until it published the Lucid Investor Deck after it went public with the help of Churchill Capital Corp IV. Thanks to that document, we now know that the Air has over $650 million in reservations.
In a poor attempt to convert that into the right number of orders received so far, we divided that number by $69,900, the price for the more affordable Air derivative. That would give us almost 9,300 reservations so far. Considering the Air can cost a lot more than that, the number is lower. Lucid mentions “more than 7,500 reservations received as of February 2021.”
Before comparing it to the 30,000 reservations Rivian had or the 600,000 that the Cybertruck would already have, it is valid to remember that luxury sedans have much lower sales numbers and prices that are a lot higher than those the electric pickup trucks will have.
As Lucid itself recognizes, brand awareness still has to improve. Apart from that, more affordable options have to emerge, but not before the company starts delivering the first Air units and word of mouth starts to spread.
To help improve reservations and brand awareness, Lucid also said it is going to open nine more Lucid Studios, the places in which customers will see the Air in person, configure it, and probably receive their new cars when deliveries start in the second half of 2021. Today, the company already opened six of them: in Newark (CA), San Jose (CA), Beverly Hills (CA), Century City (CA), Miami (FL), and West Palm Beach (FL).
The new ones will be located in Oak Brook (IL), Scottsdale (AZ), Torrance (CA), New York (NY), Boston (MA), San Diego (CA), Millbrae (CA), Tysons Corner (VA), and Manhasset (NY). It is not clear yet if they will also work as service centers, but we believe that will be the case, at least for some Lucid Studios.
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