Elon Musk Expects EV Competitor Lucid Motors to Fail

Elon Musk, who has already stated that he does not believe the company will be afloat for very long, believes that the relatively new American automaker, which made headlines with the attractive and very efficient Lucid Air, may not win the EV market. The energy level in the quickly expanding EV market is steadily but surely reaching a breaking point. Electric car manufacturers like Tesla have begun to provide discounts in some foreign areas where demand is dwindling quite quickly after disrupted supply chains and reduced manufacturing capacities led to considerable price increases across the board. Elon Musk says that one specific corporation may see particularly severe effects from this development.

They are not long for this world

— Elon Musk (@elonmusk) December 9, 2022

The eccentric CEO of Tesla recently predicted the doom of EV rival Lucid Motors in a tweet. The statement from Elon Musk follows recent allegations that the electric vehicle manufacturer, which also has roots in the US state of California, is dealing with an increase of cancellations that has forced the business to take pretty dramatic measures. Business Insider claims that Lucid is providing discounts of up to 10% on the six-figure list prices of the majority of Lucid Air model variants, and that its salespeople can allegedly make up to 14 phone calls before the deal is finalized. https://www.gadgetany.com/news/lucid-cheaper-sedan-ev-may-debut-this-2025-we-are-more-close-towards-affordable-evs/ Elon Musk has already questioned the competitor's ability to make money. The CEO of Tesla earlier made the point that the company's expenses were too high and that it needed to find ways to reduce the Lucid Air's production costs. Although the Tesla rival claimed US$200 million in revenue for the third quarter of 2022, the company is still far from becoming profitable. Despite Musk's pessimistic forecast, Lucid Motors appears to have enough cash on hand to continue operating for at least another year thanks to a significant Saudi Arabian backer.