LCID

Dallas Grand Opening to take place on Saturday, November 19 at 10:00 AM CT.

NEWARK, Calif., Nov. 18, 2022 /PRNewswire/ -- Lucid Group, Inc. (NASDAQ: LCID), setting new standards with the longest-range, fastest-charging electric car on the market, today announced the official opening of its first Studio location in the state of Texas. This Studio opening marks 29 Lucid Studio and service center locations open in North America and 32 globally, including the recent opening in Geneva, Switzerland. The Lucid Studio at Legacy West will be open to the public starting Saturday, November 19.

"Opening in the heart of Plano, we're thrilled to announce our first Studio in Texas," said Zak Edson, Lucid's Vice President of Sales and Service. "We look forward to serving the people of Texas and introducing consumers to the full Lucid Air lineup, including the recently unveiled Air Pure and Touring at a more accessible price point."

EV enthusiasts in Texas are encouraged to visit the Lucid Studio at Legacy West on Saturday, November 19 for the grand opening. Lucid will also be hosting its Dream Ahead Tour throughout the weekend, where consumers can schedule appointments to view the impressive Air lineup and drive the Lucid Air. Walk-ups will be available in a limited capacity.

The Dallas Studio will offer a digitally oriented luxury experience tailored to each customer's preferences, whether they visit in-person, make inquiries entirely online, or combine the two. Lucid Studios allow customers to experience the brand and obtain information about its products in locations that underscore the company's unique design aesthetic. Visitors who explore a Lucid Studio will get a vision of how the company draws inspiration from the beauty, innovation, and diversity of its home state of California. In addition, Lucid Studios augment the physical experience of seeing and touching a Lucid Air with an elevated digital experience. Using a 4K VR configurator, Lucid's Virtual Reality Experience combines the physical and virtual worlds to showcase seamless personalization of everything from interior finishes and materials to exterior color.

For those customers who aren't able to visit a Lucid Studio, there is Lucid Studio Live, a private virtual tour that lets customers browse and build their dream car with the guidance of a Lucid team member. Each one-to-one appointment allows plenty of time for questions and offers an incredible 360° look at Lucid Air. Customers can see everything from views inside the cabin, into the trunk and frunk, to outside and even above the vehicle—all set in their choice of iconic California backdrops. From there, customers can save a favorite design configuration to their Lucid account if they wish.

Additional locations will continue to open as Lucid expands its presence in North America and globally. Customers can visit during normal business hours or can book a personal appointment by contacting the Lucid team at lucidmotors.com/contact. They can always start exploring the Lucid Air through the "Design Yours" Configurator.

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. Lucid Air Grand Touring features an official EPA estimated 516 miles of range or 1,050 horsepower. Deliveries of Lucid Air, which is produced at Lucid's factory in Casa Grande, Arizona, are currently underway to U.S. and Canadian customers.

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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 the new Lucid Studio in Texas, expectations regarding studio experience, including in-person and virtual customer experiences, plans regarding future openings of new Studios and service centers, including planned locations, 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.

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