Lucid’s Upcoming Gravity Luxury Electric SUV Hits the Road in Latest Phase of Development and Testing

NEWARK, CA — April 25, 2023 — Lucid Group, Inc. (NASDAQ: LCID), setting new standards for luxury electric experience with the Lucid Air, winner of the 2023 World Luxury Car Award, today announced that the Lucid Gravity SUV has entered a new phase of development, now testing on public roads throughout the U.S.

“I am excited to see the Gravity SUV moving forward so quickly in its development, as it builds upon everything this company has achieved thus far and drives further advancements of our in-house technology to create a luxury electric SUV like none other,” said Peter Rawlinson, CEO and CTO, Lucid Group. “The Lucid Air redefined the sedan category, and as our technology continues to evolve and lead the market, we are in a place where the Gravity is positioned to change the world of SUVs.”

The Lucid Gravity SUV is designed and engineered to serve nearly any lifestyle or need, with a previously unheard-of combination of spaciousness, performance, and driving range. This luxury electric SUV will offer comfortable seating for up to seven adults and their gear, the driving dynamics of a sports car, and greater electric range than any SUV on the market today. The Lucid Gravity will also introduce new Glass Cockpit high-resolution displays, powered by the next generation of Lucid UX, Lucid’s intuitive and elegant software interface.

The Lucid Gravity SUV is designed and engineered to serve nearly any lifestyle or need, with a previously unheard-of combination of spaciousness, performance, and driving range. This luxury electric SUV will offer comfortable seating for up to seven adults and their gear, the driving dynamics of a sports car, and greater electric range than any SUV on the market today. The Lucid Gravity will also introduce new Glass Cockpit high-resolution displays, powered by the next generation of Lucid UX, Lucid’s intuitive and elegant software interface.

This vehicle is in preproduction and specifications for the Lucid Gravity are subject to change.

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. The Lucid Air Grand Touring features an official EPA estimated 516 miles of range or 1,050 horsepower. Produced at Lucid’s factory in Casa Grande, Arizona, 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 Lucid’s plans and expectations regarding the Lucid Gravity SUV, including performance, driving range, features, specifications, potential impact on markets, 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, 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.