By Akash Sriram and Abhirup Roy
March 12 (Reuters) – Lucid expects to turn cash flow positive later this decade, the EV maker said on Thursday, as it laid out a roadmap for affordable cars and autonomy, including unveiling a two-seat robotics concept without a steering wheel and pedals.
Lucid, known for its luxury air sedan and Gravity SUVs, is also in the running to develop a mid-size electric vehicle platform later this year that it says will generate about 100,000 annual deliveries in the medium term.
But the plans, laid out at Lucid’s Investor Day event in New York, come as a reversal of EV-friendly policies in the US and increased competition in Europe hurt EV demand, and failed to impress nervous investors. Lucid shares closed up nearly 8% on Thursday.
Last month, Lucid, which like many of its rivals faces supply chain disruptions and high US tariffs on auto parts imports, forecast slower growth in 2026 production after it was expected to report a bigger loss in the fourth quarter.
“We are very concerned about the company’s liquidity situation,” RBC Capital Markets analyst Tom Narain wrote in a note after the event, adding that additional financing is likely to be needed soon. “As such, there are limits to how much it can raise from its peers,” Narayan wrote.
Lucid is working to cut costs and on Thursday forecast a 50% to 60% drop in unit costs over the medium term. Capital expenditure as a percentage of revenue also falls in 2028.
Automated Technical Participation, Robotaxis Plans
While developing autonomous systems for personal vehicles and robotics is difficult, the effort, if successful, could be a high-income revenue stream.
Lucid has partnered with Uber and US-based startup Nuro to commercialize its Gravity SUV-based robotaxis this year.
The unveiling of the Robotaxi concept deepens Lucid’s push into fully autonomous vehicles, and puts it in direct competition with Tesla’s CyberCab as automakers race to build a driverless future. The company did not provide further details on timing or pricing.
Elon Musk-led Tesla said last month that its first CyberCab had officially rolled off the production line at its Gigafactory in Texas. Tesla expects to begin mass production of the CyberCab in April.
Lucid’s monthly subscription for its self-driving technology will cost between $69 and $199 depending on the level of autonomous driving capabilities customers choose, the EV maker said.
Last month, Tesla switched to a subscription plan for full self-driving at $99. Rivian launched its home driver assistance system for $49.99 a month or $2,500 as a one-time purchase.
(Reporting by Akash Sriram in Bengaluru and Abhirup Roy in San Francisco; Editing by Leroy Love and Jamie Freed)
