Lucid Launches Lucid Financial Services in Germany
Digital Platform Offering Online Financing, including Lease and Loan Purchase Options, Will Be Available to Lucid Air Customers in Germany
MUNICH – October 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 the launch of Lucid Financial Services in Germany. Lucid has introduced a digital platform through its strategic banking partner CA Auto Bank, operating under the trademark of Lucid Financial Services, that offers a flexible, fast and easy financing process, including lease and loan purchase options to Lucid Air customers.
The Lucid Financial Services digital platform enables all aspects of the vehicle purchasing process to be completed online, including the finance application and e-signing of the finance contract. Lucid Financial Services also offers a concierge service with a high-level of personalized support that can assist customers in navigating the application process. The brand enters the German market with highly competitive financial products, such as leasing of the Lucid Air Pure starting at 999.00 Euro* incl. VAT and loan of any Lucid model at an effective rate of 2.49%**.
“We are delighted to provide our Lucid customers in Germany with financing options, including lease and loan purchase so they can experience the exceptional range, design, and performance that comes with a Lucid Air,” said Mustally Hussain, Managing Director, Global Treasurer and Head of Financial Services, Lucid Motors. “This would not have been possible without the support from our innovative partner CA Auto Bank. We are transforming vehicle financing with digital solutions that will make it easier for customers to become a member of the Lucid community.”
“We’re proud to be standing alongside a prestigious and innovative brand like Lucid with our cutting-edge digital solutions,” stated Giacomo Carelli, CEO and General Manager of CA Auto Bank. “New technologies are key tools for the CA Auto Bank’s business: we believe digitalization and green mobility go hand in hand – now and in the future. As a European leader in the digital customer journey, our aim is to be a model for innovation and access to increasingly sustainable mobility”.
In September 2023, Lucid and CA Auto Bank announced their partnership in Germany, Switzerland and the Netherlands. Under the agreement, CA Auto Bank offers its tailor-made financial solutions, which include loans and leases, to assist business clients and individuals in their selection of vehicles from Lucid’s lineup.
* Unverbindliches Leasingbeispiel mit Kilometerabrechnung für Privatkunden der Lucid Financial Services, CA Auto Bank S.p.A. Niederlassung Deutschland, Salzstraße 138, 74076 Heilbronn. Fahrzeuggesamtpreis 109.000 €, inkl. Überführungskosten, Leasingsonderzahlung 9.508,02 €, Gesamtfahrleistung (km) 15.000, Laufzeit 36 Monate, Monatsrate à 999 €. Alle Preise verstehen sich inklusive aktuell gültiger Mehrwertsteuer. Die Kalkulation stellt zugleich ein repräsentatives Beispiel im Sinne des § 6a PAngV dar. Verbrauchern steht ein Widerrufsrecht nach § 495 BGB zu.
** Unverbindliches Finanzierungsbeispiel für Privatkunden der Lucid Financial Services, CA Auto Bank S.p.A. Niederlassung Deutschland, Salzstraße 138, 74076 Heilbronn. Fahrzeuggesamtpreis 109.000,00 €, inkl. Überführungskosten, Anzahlung 21.000 € , Laufzeit 48 Monate, Nettodarlehensbetrag 88.000 €, Sollzinssatz p.a. (gebunden) 2,44% , effektiver Jahreszins 2,49% , Gesamtbetrag 92559,45 €, 1. Monatsrate 1.990,45 €, 47 Folgeraten à 1.927 €. Alle Preise verstehen sich inklusive aktuell gültiger Mehrwertsteuer. Die Kalkulation stellt zugleich ein repräsentatives Beispiel im Sinne des § 6a PAngV dar. Verbrauchern steht ein Widerrufsrecht nach § 495 BGB zu.
Lucid Financial Services is a trademark owned by Lucid Group Inc and its affiliates and is licensed to CA Auto Bank CA which provides the financing referred to above and is authorised and regulated by the relevant authorities.
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. Assembled at Lucid’s factories in Casa Grande, Arizona and King Abdullah Economic City (KAEC), Saudi Arabia, deliveries of Lucid Air are currently underway to customers in the U.S., Canada, Europe, and the Middle East.
Media Contact
Sebastian Michel
PR & Communications Manager Europe Lucid Motors
preurope@lucidmotors.com
Camilla Jokisch
Serviceplan Public Relations & Content GmbH & Co. KG
lucid-presse@house-of-communication.com
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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 plans and expectations regarding the launch and availability of Lucid Financial Services in Germany, including features and capabilities of the digital platform, details of any financial product being offered, and Lucid’s partnership with CA Auto Bank in general. 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 or consumer 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 June 30, 2023, 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.