Lucid Announces $7,500 EV Credit on the Purchase of Select Lucid Air Models

Limited time offer available for select configurations of Lucid Air Touring and Air Grand Touring ordered by March 31, 2023

NEWARK, Calif., Feb. 9, 2023 /PRNewswire/ -- Lucid Group, Inc. (NASDAQ: LCID), setting new standards with the longest-range, fastest-charging electric car on the market, today announced that customers can receive a $7,500 EV credit on the purchase of the award-winning Lucid Air. Starting today, this limited time offer is available for select configurations of Lucid Air Touring and Air Grand Touring models purchased by March 31, 2023.¹

"We think our customers still deserve a $7,500 credit for choosing an EV," said Zak Edson, Lucid's Vice President of Sales and Service. "Lucid Air owners have told us how much they love this car, from the world-class driving experience to the elegant design and spacious interior. With this limited time offer, we hope to get Lucid Air into the hands of even more customers so they can experience the best for themselves."

Touring: The Quintessential Sports Sedan
Air Touring is at the heart of the Lucid Air family, with an extraordinary fusion of performance and interior space, wrapped in a sleek aerodynamic design. With 620 horsepower, the dual-motor, all-wheel-drive Lucid Air Touring accelerates from 0-60 mph in 3.4 seconds. It offers an EPA-estimated driving range of 425 miles when equipped with 19" wheels. Touring is also Lucid's most efficient Air model to date, achieving a landmark 140 MPGe EPA rating.

Grand Touring: The Benchmark for Electric Vehicles
Air Grand Touring has it all: industry-leading range, stellar driving dynamics, supercar performance, and luxurious interior space – all clothed in timeless elegance. With 819 horsepower, the dual-motor, all-wheel-drive Air Grand Touring accelerates from 0-60 mph in 3.0 seconds, while offering an unsurpassed EPA-estimated driving range of up to 516 miles when equipped with 19" wheels. The 1,050-horsepower Performance version of Air Grand Touring takes exhilaration next level, with 0-60 mph in 2.6 seconds.

Lucid Air Complete Line

• Pure – from $87,400 ($92,900 with AWD). EPA-estimated driving range of up to 410 miles (AWD)
• Touring – from $107,400. EPA-estimated driving range of up to 425 miles
• Grand Touring – from $138,000. EPA-estimated driving range of up to 516 miles
  (Note: Air Pure not eligible for this promotion.)

About Lucid Group
Lucid's mission is to inspire the adoption of sustainable energy by creating advanced technologies and the most captivating luxury electric vehicles centered around the human experience. The company's first car, Lucid Air, is a state-of-the-art luxury sedan with a California-inspired design that features luxurious full-size interior space in a mid-size exterior footprint. The highly anticipated Lucid Air Grand Touring features 819 horsepower. Deliveries of Lucid Air, which is produced at Lucid's factory in Casa Grande, Arizona, are currently underway to U.S., Canadian, and European customers.

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Forward-Looking Statements
This communication includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "shall," "expect," "anticipate," "believe," "seek," "target," "continue," "could," "may," "might," "possible," "potential," "predict" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding plans and expectations regarding the purchase and lease offers for Lucid vehicles, including potential savings, availability and timing, plans and expectations regarding Lucid Air Touring, including specifications and performance, and the promise of Lucid's technology. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of Lucid's management. These forward-looking statements are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from these forward-looking statements. Many actual events and circumstances are beyond the control of Lucid. These forward-looking statements are subject to a number of risks and uncertainties, including those factors discussed under the heading "Risk Factors" in Part II, Item 1A of Lucid's Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, as well as other documents Lucid has filed or will file with the Securities and Exchange Commission. If any of these risks materialize or Lucid's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Lucid currently does not know or that Lucid currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Lucid's expectations, plans or forecasts of future events and views as of the date of this communication. Lucid anticipates that subsequent events and developments will cause Lucid's assessments to change. However, while Lucid may elect to update these forward-looking statements at some point in the future, Lucid specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Lucid's assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.

¹ Limited time offer for purchases of Lucid Air Touring and Air Grand Touring. Offer not applicable to vehicles with Stealth look, PurLuxe interior, or Metal roof. Cannot be combined with leasing incentives. Must place order by no later than March 31, 2023 and take delivery by no later than April 30, 2023.  Offer available only in the US. Contact a Lucid Studio Advisor for additional information on vehicles available for quick delivery at 1(844) 367-7787 (toll free).

SOURCE Lucid Group