Lucid Announces Opening of First Swiss Retail Location in Geneva

The grand opening of Lucid Studio at Cours de Rive 10 to take place on 18th of November

Geneva Opening

NEWARK, CA — November 17, 2022 Lucid Group, Inc. (NASDAQ: LCID), which is setting new standards with its advanced luxury electric vehicles, today announced plans to open its first retail location in Switzerland – the Lucid Studio at Cours de Rive 10 in Geneva – on Friday, November 18, 2022.

The luxury retail space will invite customers to experience the Lucid brand and its products in the heart of Geneva. The Swiss Studio will mark the company’s second retail location in Europe, after the Munich Studio opening in May of this year. Lucid expects to expand its physical footprint throughout additional countries in Europe in the coming years.

“The response to Lucid at the recent preview event in Zurich has been tremendous, which reflects the country’s unique embrace of luxury, innovation and the environment.” said Zak Edson, Vice President of Sales and Service, Lucid Group. “We have a growing number of Lucid Air reservation holders in Switzerland and the new Lucid Studio in Geneva will provide the perfect opportunity for EV enthusiasts to engage with and learn about the groundbreaking Lucid Air.”

Geneva Opening

Studio Experience
With a direct-to-consumer model, every Lucid Studio offers a digitally oriented premium experience tailored to each customer’s preferences, whether they visit in-person, make inquiries entirely online, or combine the two. Lucid’s Geneva Studio will allow customers to fully experience the brand and gain information about its products in a location that underscores the company’s unique design aesthetic. Exploring a Lucid Studio, visitors will get a vision - in their local language - of how the company draws inspiration from the beauty, innovation, and diversity of its home state of California (USA).

European Expansion
Lucid accepts reservations from European customers and is expected to deliver the first vehicles in Europe at the end of 2022. By placing a fully refundable reservation starting at €300 EUR, customers in Austria, Belgium, Denmark, Finland, France, Germany, Italy, Monaco, the Netherlands, Norway, Spain, Sweden, Switzerland, and the UK can secure their place in line for the Lucid Air Pure, Touring, and Grand Touring models when deliveries begin in their respective countries. Further expansion in Europe is planned in the future, including additional Studios and services centers in major European cities.

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, 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. The highly anticipated Lucid Air Grand Touring features 819 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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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 the new Lucid Studio in Geneva, Switzerland, including studio experience, Lucid’s expectations regarding its expansion in Europe, timing of delivery of Lucid vehicles to Europe, pricing, availability of Lucid vehicles, 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.