Press Release

NEWARK, Calif., Sept. 16, 2021 /PRNewswire/ -- Lucid Group, which is setting new standards with its advanced luxury EVs, today announced that the Lucid Air Dream Edition Range has received an official EPA rating of 520 miles of range.^¹ It is the longest-range electric vehicle ever rated by the EPA – delivering at least 100+ miles of additional range over its closest competitor.

One of two distinct versions of the Lucid Air Dream Edition, the Dream Edition Range embodies Lucid's exacting focus on maximizing efficiency, achieving 520 miles of range while still delivering 933 horsepower. It sits alongside the 1,111 horsepower Lucid Air Dream Edition Performance and the 800 horsepower Grand Touring versions, which have also now received their official EPA range ratings.

"I'm delighted that our Lucid Air Dream Edition Range has been officially accredited with a range of 520 miles by the EPA, a number I believe to be a new record for any EV. Crucially, this landmark has been achieved by Lucid's world-leading in-house EV technology, not by simply installing an oversize battery pack," said Peter Rawlinson, CEO and CTO, Lucid Group. "Our race-proven 900V battery and BMS technology, our miniaturized drive units, coupled with our Wunderbox technology endow Lucid Air with ultra-high efficiency, enabling it to travel more miles from less battery energy. The next generation EV has truly arrived!"

Supporting the official EPA range ratings, Lucid recently completed a real-world first drive with Motor Trend featuring a pair of Dream Edition Range cars. A Motor Trend journalist and Lucid's CEO drove separate cars from Los Angeles to San Francisco at highway speeds and then across the San Francisco Bay to Lucid's global headquarters, all without stopping to charge and with plenty of range remaining on each vehicle. This range run further supports the EPA's laboratory-based range estimates and showcases the real-world capability to drive over 500 miles on a single charge.

Several other versions of Lucid Air have also received their official EPA range ratings, including the Dream Edition Performance and Grand Touring versions on both 19" and 21" wheels. Taken as a whole, these Lucid Air models now occupy the top six positions for overall EPA range ratings among all EVs, as well as the highest MPGe ratings in the Large vehicle class. The official EPA ratings are available at www.fueleconomy.gov.

About Lucid Group
Lucid's mission is to inspire the adoption of sustainable energy by creating the most captivating 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 underpinned by race-proven technology. Lucid Air features a luxurious full-size interior space in a mid-size exterior footprint. Customer deliveries of Lucid Air, which is produced at Lucid's new factory in Casa Grande, Arizona, are planned to begin this year.

Media Contact
media@lucidmotors.com

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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," "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 facts. These forward-looking statements include, but are not limited to, statements regarding the Company's expectations and timing related to the start of production and deliveries of the Lucid Air and the performance, range, and other features of the Lucid Air.  These statements are based on various assumptions, and actual events and circumstances may differ. Forward-looking statements are subject to a number of risks and uncertainties, including factors discussed in the Company's Registration Statement on Form S-1,, the Company's Annual Report on Form 10-K/A for the year ended December 31, 2020 and the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, in each case, under the heading "Risk Factors," as well as other documents of the Company that are filed, or will be filed, with the Securities and Exchange Commission. If any of these risks materialize or the Company's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that the Company does not presently know or that the Company 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 the Company's expectations, plans or forecasts of future events and views as of the date of this communication. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's assessments as of any date subsequent to the date of this communication.

^¹ EPA estimated ranges are meant to be a general guideline for consumers when comparing vehicles.  

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SOURCE Lucid Motors