Press Release

NEWARK, Calif., April 17, 2024 /PRNewswire/ -- Lucid Group, Inc. (NASDAQ: LCID), setting new standards for luxury electric experience with the Lucid Air, America's most awarded new luxury vehicle,ⁱ announced details about the 2024 Lucid Air Grand Touring, with an array of enhancements to help people drive farther and charge faster in a broader range of environments and conditions.

The 2024 Lucid Air Grand Touring features:

• Range to Spare, Even in Cold Air: EPA electric range test procedures recently became more challenging, but the 2024 Air Grand Touring still delivers, with an EPA-estimated range of 516 milesⁱⁱ – the longest range of any EV in the U.S. market today. Now equipped with the heat pump from the Air Sapphire, the GT is even more capable of delivering outstanding range even in extremely cold conditions.
  
  
• More Efficiency, More Sustainable Performance: Enhancements to Lucid's proprietary motor design, battery cell chemistry, and thermal characteristics reduce energy wasted as heat and enable the car to perform at its best even during sustained spirited driving.
  
  
• Faster Fast Charging: Get back on the road more quickly, with about 15-30% faster DC charging.ⁱⁱⁱ Improved automatic preconditioning en route to the charging station enables faster charging once you plug in.

"The Air Grand Touring is our longest-range car – in fact the longest-range EV available today – and is now further optimized with a multitude of powertrain updates, including the Air Sapphire heat pump." said Peter Rawlinson, CEO and CTO at Lucid. "The Air Grand Touring has retained its 516-mile range estimate, achieving this despite more-stringent EPA testing. More importantly, it delivers improved range and efficiency in a broader range of everyday, real-world conditions."

The 2024 Lucid Air Grand Touring starts at $109,900^iv in the U.S., competitively priced in its segment while offering up to hundreds of miles more EPA-estimated range than many competitors' EVs. The comprehensive 2024 Lucid Air model range consists of:

The 2024 Lucid Air Pure, the starting point for the Air line, extraordinary value starting at $69,900.iii The unsurpassed leader in sustainability, Air Pure drives farther using less energy than any vehicle on the market today as measured by miles/kWh. Up to 419 miles of EPA-estimated range,ii 430 horsepower, with an agile driving experience and a serene passenger cabin.

The 2024 Lucid Air Touring, the heart of the Lucid Air line with the perfect balance of range, performance, and space for people and cargo. Priced from $77,900iii, the Air Touring offers up to 411 miles of EPA-estimated rangeii – more than all other brands' electric cars – and 620 horsepower.

The 2024 Lucid Air Grand Touring, announced today, is the world's first and only fully electric vehicle with an EPA-estimated range of over 500 miles - 516 miles to be precise. For 2024, the cutting edge of EV technology gets even sharper, adopting technology advancements first seen in the Air Sapphire that deliver longer driving range in more conditions, faster charging, and an energy-saving heat pump. Air Grand Touring offers 819 horsepower and is priced from $109,900.iii

The 2024 Lucid Air Sapphire is Lucid's acclaimed supersports sedan. Featuring a three-motor powertrain with 1,234 hp and innovative in-house torque vectoring, the Air Sapphire has been called the world's best handling car, ever. The Air Sapphire is the most powerful four-door car in the world achieving 0-60 mph in 1.89 seconds, 0-100 mph in 3.84 seconds, the quarter mile in 8.95 seconds, and a top speed of 205 mph, all coupled with an incredible EPA-estimated 427 miles of range.ii 

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, the Air, is a state-of-the-art luxury sedan with a California-inspired design. Assembled at Lucid's factories in Casa Grande, Arizona, and King Abdullah Economic City (KAEC), Saudi Arabia, deliveries of Lucid Air are currently underway to customers in the U.S., Canada, Europe, and the Middle East.

Media Contact
media@lucidmotors.com

Trademarks
This communication contains trademarks, service marks, trade names and copyrights of Lucid Group, Inc. and its subsidiaries and other companies, which are the property of their respective owners.

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 with respect to Lucid Air, including price, configurations, design and specifications, range, efficiency 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 I, Item 1A of Lucid's Annual Report on Form 10-K for the year ended December 31, 2023, 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.

ⁱ Based on percentage of major industry awards and accolades earned by new luxury vehicles launched in the last three years and on sale in the United States.

ⁱⁱ EPA est. range ratings when equipped with 19" wheels: 516 Grand Touring/411 Touring. Manufacturer's projected range for Pure RWD equipped with 19" wheels is 410 miles; EPA est. range is 419. EPA est. range for Sapphire is 427 when equipped with standard wheel covers. Range and battery power vary with temperature, driving habits, charging and battery condition and actual results will vary.

ⁱⁱⁱ When connected compatible DC fast charger. Actual rates will vary based upon vehicle equipment and charging conditions.

^iv Excludes tax, title, license, options, destination and documentation fees. For U.S. market only.

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SOURCE Lucid Group