LUCID ELECTRIC CARS

A Project management analysis about Lucid

Cars and their AMP-1 factory

Presented by:
Omar Ahmed (2019/05283)
Omar Yasser (2019/04220)
Muhammed Essam (2019/07243)

Supervised by:
Dr. Ayman Zaki
Table of Contents:
Project Management discussion: ........................................................................... 4
Project manager ................................................................................................. 4
Project management .......................................................................................... 5
Project Management Institute ............................................................................ 8
Lucid Motors: ......................................................................................................... 9
Lucid Motors History........................................................................................... 9
Atieva ................................................................................................................. 9
Becoming Lucid Motors .................................................................................... 10
Lucid AMP-1 Factory ......................................................................................... 10
Car safety .......................................................................................................... 11
Lucid car structure ............................................................................................... 13
Lucid Air Pure:................................................................................................... 13
Lucid Air Touring: .............................................................................................. 15
Lucid Air Dream Edition: ................................................................................... 16
Lucid Group Stakeholders: ................................................................................... 17
Lucid stock performance and price drivers ....................................................... 17
Biggest institutional Lucid Group shareholders ................................................. 18
Public Investment Fund .................................................................................... 18
M.Klein & Company .......................................................................................... 19
Biggest individual shareholders of Lucid Group stock ....................................... 20
Peter Dore Rawlinson ....................................................................................... 20
Turki Alnowaiser ............................................................................................... 20
Eric Bach ........................................................................................................... 20
Sustainability: ...................................................................................................... 21
 Business Factor:........................................................................... 22
Economic Factors: .......................................................................... 23
Risk Factors .......................................................................................................... 24
References: .......................................................................................................... 28
Project Management discussion:

A project is an individual or collaborative enterprise, possibly involving research

or design that is carefully planned, usually by the project assigned team, to
achieve a particular aim. It can also be defined as a set of interrelated tasks to be
executed over a fixed period and within certain cost and other limitations.
In project management, a project consists of a temporary endeavor undertaken
to create a unique product, service or result. Another definition is: a management
environment that is created for the purpose of delivering one or more business
products according to a specified business case. Project objectives define target
status at the end of the project, reaching of which is considered necessary for the
achievement of planned benefits. They can be formulated as SMART criteria:
 Time terminated (bounded)
 Measurable (or at least evaluable) achievement.
 Realistic (given the current state of organizational resources.
 Specific
 Achievable (recently Agreed to or Acceptable).
The evaluation (measurement) occurs at the project closure. However, a
continuous guard on the project progress should be kept by monitoring and
evaluating. Note that SMART is best applied for incremental-type innovation
projects. For radical-type projects it does not apply so well. Goals for such
projects tend to be broad, qualitative, and stretch/unrealistic and success will be
driven.

Project manager
A professional in the field of project management. Project managers can have the
responsibility of the planning, execution, controlling, and closing of any project
typically relating to the construction industry, engineering,
architecture, computing, and telecommunications. Many other fields of
production engineering, design engineering, and heavy industrial have project
managers. A project manager is the person accountable for accomplishing the
stated project objectives. Key project management responsibilities include
creating clear and attainable project objectives, building the project
requirements, and managing the triple constraint (now including more constraints
and calling it competing constraints) for projects, which is cost, time, and scope
for the first three but about three additional ones in current project management.

A project manager is often a client representative and has to determine and

implement the exact needs of the client, based on knowledge of the firm they are
representing. The ability to adapt to the various internal procedures of the
contracting party, and to form close links with the nominated representatives, is
essential in ensuring that the key issues of cost, time, quality and above all, client
satisfaction, can be realized.

Project management
is the discipline of initiating, planning, executing, controlling, and closing the work
of a team to achieve specific goals and meet specific success criteria. A project is a
temporary endeavor designed to produce a unique product, service or result with
a defined beginning and end (usually time-constrained, and often constrained by
funding or deliverables) undertaken to meet unique goals and objectives, typically
to bring about beneficial change or added value. The temporary nature of
projects stands in contrast with business as usual (or operations), which are
repetitive, permanent, or semi-permanent functional activities to produce
products or services. In practice, the management of these two systems is often
quite different, and as such requires the development of distinct technical skills
and management strategies. The primary challenge of project management is to
achieve all of the project goals within the given constraints. This information is
 usually described in a user or project manual, which is created at
the beginning of the development process.

The primary constraints are scope, time, quality and budget. The secondary and
more ambitious— challenge is to optimize the allocation of necessary inputs and
integrate them to meet pre-defined objectives. Project management can apply to
any project, but it is often tailored to accommodate the specific needs of different
and highly specialized industries. For example, the construction industry, which
focuses on the delivery of things like buildings, roads, and bridges, has developed
its own specialized form of project management that it refers to as construction
project management and in which project managers can become trained and
certified.
The information technology industry has also evolved to develop its own form of
project management that is referred to as IT project management and which
specializes in the delivery of technical assets and services that are required to
pass through various lifecycle phases such as planning, design, development,
testing, and deployment. Biotechnology project management focuses on the
intricacies of biotechnology research and development.
For each type of project management, project managers develop and utilize
repeatable templates that are specific to the industry they're dealing with. This
allows project plans to become very thorough and highly repeatable, with the
specific intent to increase quality, lower delivery costs, and lower time to deliver
project results. Project Management Institute, Inc. (PMI) defines project
management as "the application of knowledge, skills, tools and techniques to a
broad range of activities in order to meet the requirements of a particular
project." The process of directing and controlling a project from start to finish
may be further divided into 5 basic phases:
1. Project conception and initiation:
an idea for a project will be carefully examined to determine whether or not it
benefits the organization. During this phase, a decision-making team will identify
if the project can realistically be completed.
2. Project definition and planning:
A project plan, project charter and/or project scope may be put in writing,
outlining the work to be performed. During this phase, a team should prioritize
the project, calculate a budget and schedule, and determine what resources are
needed.
3. Project launch or execution:
Resources' tasks are distributed, and teams are informed of responsibilities. This
is a good time to bring up important project related information.
4. Project performance and control:
Project managers will compare project status and progress to the actual plan, as
resources perform the scheduled work. During this phase, project managers may
need to adjust schedules or do what is necessary to keep the project on track.
5. Project close:
After project tasks are completed and the client has approved the outcome, an
evaluation is necessary to highlight project success and/or learn from project
history. Projects and project management processes vary from industry to
industry; however, these are more traditional elements of a project. The
overarching goal is typically to offer a product, change a process or to solve a
problem in order to benefit the organization.
Project Management Institute

The Project Management Institute, Inc. (PMI) is the project management

industry's non-profit standards body. With over 250 project chapters and 200,000
members worldwide, PMI is the largest project management membership group.
PMI is a volunteer organization that supports and drives our industry forward.
PMI, in conjunction with its volunteer membership, developed A Guide to the
Project Management Body of Knowledge (PMBOK® Guide), which is the agreed
upon book of standard language, terminology and principles governing project
management. In the past, project managers 'fell' into the role. There was no
formal degree in project management. PMI has been instrumental in creating the
Project Management Professional (PMP) certification, which professionalized the
career of project management. Now, project managers worldwide have been
studying the agreed upon principles and passing the PMP exam. The PMP
certification is formalizing and validating the profession.
Project Insight is the only mid-range project software that respects and conforms
to PMI's PMBOK® Guide or standards body. This is important for teams that are of
mixed levels of expertise. Most experienced project managers have been using
Microsoft Project desktop to manage projects. More and more of these savvy
project managers find that they need to collaborate on projects with dispersed
project teams.
The team members, vendors, contractors and other third parties they collaborate
with want something that is simple to use.
In fact, Project Management Institute, Inc. (PMI) found that 52% of all project
teams are a mix of professional project managers and non-project managers. In
the past, experienced project managers had a couple of choices. Invest in a high
end software solution that takes a lot of training to implement or purchase a low-
end tool that lacks.

Lucid Motors:

Lucid Motors History

Formerly known as Atieva, Lucid Motors was founded in 2007 and is based in
Newark, California, near Silicon Valley. As Atieva, Lucid was originally focused on
developing batteries and electric powertrains for other vehicle manufacturers.
Eventually, it accumulated over 50 patents pertaining to its core battery system in
the US alone.

Atieva

By 2013, the company was a highly capable producer of connected battery packs
and electric powertrains and began flirting with the idea of developing a car of its
own. That is when Peter Rawlinson joined the team as Chief Technology Officer.
Previously, Rawlinson has been the VP of Vehicle Engineering and Chief Engineer
of the Model S at Tesla. In 2014, Lucid garnered a nine-digit round of funding to
develop its own complete vehicle. This included investments from companies like
Venrock, Mitsui, and JAFCO — all of which remain investors today. According to
Lucid’s website, the Atieva team then built a custom, 900 HP powertrain test
vehicle. It remained ordinary looking from its exterior to stay unrecognized but
could reach 60 mph in ~3 seconds with “a driving range that well exceeds today’s
range limitations.”
Becoming Lucid Motors
In October of 2016, the company officially announced its intent to rebrand itself
as Lucid Motors. Furthermore, the nascent automaker announced plans to
produce an all-electric luxury vehicle. A month later, Lucid officials, along with
state officials from Arizona, announced plans for the automaker to break ground
in Casa Grande on a $700 million purpose-built facility sitting on a 590-acre
footprint. The first in North America.

Lucid AMP-1 Factory

Lucid calls this flagship factory AMP-1, an acronym for Advanced Manufacturing
Plant. It is here that the company has developed and will produce its flagship EV,
the Lucid Air sedan. According to the automaker’s website, the factory design
was implemented with a “future-ready” strategy in mind. According to Lucid’s VP
of manufacturing, Peter Hochholdinger:
“As we add new platforms and vehicles to our lineup, the planning that went into
this facility ensures that we will always be able to keep up with growing customer
demand for advanced electric vehicles”.
That leeway to expand is apparent in footage of Lucid Motors’ new factory and
hearing what substantial plans it has for the future. Phase 1, which was
completed in November of 2020, has begun production on the Air sedan. It can
currently build 34,000 vehicles per year.
In addition to AMP-1, Lucid also has a powertrain factory about six miles up the
road. This location manufactures modules, battery packs, inverters, drive units,
and wunderboxes (Lucid’s unique charging units). After manufacturing, these
components come to AMP-1 for final assembly. Lucid is already preparing for
phase 2 of the AMP-1 facility. This expansion will provide further space for the
automaker to build its upcoming Gravity SUV.
Furthermore, vehicle production is expected to increase from 34,000 to 90,000.
This increase could also assist Lucid in its goal of delivering Air sedans to Europe in
the first half of 2022. Phase 2, aka “Project Gravity,” is slated to break ground at
the end of 2021, and be completed in summer 2023. Lucid Motors plans to have
four total phases for its Casa Grande facility totaling an estimated 5.1 million
square feet and an eventual output of 400,000 vehicles per year.

Car safety

According to Euro NCAP, the 2022 Lucid Air impresses with a maximum five-star
rating, which is not a surprise considering the premium segment and the latest
safety technology onboard.
The results in particular categories are pretty strong. The Adult Occupant
protection and Child Occupant protection are respectively 90% and 91%. Those
are among the highest values in the industry.
In terms of Vulnerable Road Users protection, it's 78% (not bad), while the Safety
Assist is 84%. The last one is actually a bit of a surprise, because we expected
something closer to 90%.
If we compare the Lucid Air with the recently tested refreshed Tesla Model S, it
turns out that the Model S received an even better score (94% Adult Occupant
protection, the same 91% Child Occupant protection, a noticeably higher
Vulnerable Road Users protection - 85%, and a much higher Safety Assist - 98%).
According to the brief summary of the Euro NCAP result, the tested Lucid Air GT's
weight is 2,371 kg. That's significantly higher than average, but BEVs with large
batteries happen to be heavy.
2022 Lucid Air Euro NCAP test results:

Adult Occupant protection - 90 %

Child Occupant protection - 91 %
Vulnerable Road Users protection - 78 %
Safety Assist - 84 %
Lucid car structure

Lucid Air Pure:

The Lucid Air luxury sedan promises beautiful appointments in a sleek all-electric
package, plus it offers the most range of any electric vehicle. Additionally, the
sedan boasts thrilling acceleration and an estimated top speed of 217 mph. As
we'd expect of a Tesla-rivaling brand, Lucid promises autonomous and semi-
autonomous driving technologies in the coming years.
Pricing starts around $90,000 for an entry-level model (before tax credits).
The stylish sedan takes a different approach than rivals when it comes to interior
design. Its three screens don't dominate the cabin like they do in the Tesla Model
S and Mercedes EQS. A nice mix of leather, wood, Alcantara, and metal covers the
cabin. We'd go as far as saying the Lucid Air has one of the nicest interiors of any
car on the market. A spacious rear seating area sweetens the
deal. Can Lucid compete with Tesla? Absolutely yes. EV makers should view this
capable newcomer as serious competition. In our First Test, we wrote,

"The Air is not just the most compelling American luxury car in recent memory,
it's also an impressive rethink of what a luxury sedan should be."

We also put the Air Grand Touring Performance through our testing procedures
and were left enthralled by its transcendental handling characteristics, even if its
performance figures lagged the competition from Porsche and Tesla.
The Lucid Air utilizes a skateboard platform and up to three electric motors for
varying levels of power and range.
The Lucid Air Grand Touring we tested delivered 800 hp, 885 lb-ft of torque, and
an impressive 0-60 mph time of 3.0 seconds. Lucid also announced the Grand
Touring Performance model, which lays down 1,050 hp and 921 lb-ft. In our
testing it sprinted from 0-60 mph in just 2.7 seconds.

In terms of range, we've personally experienced the Lucid Air nearly hitting 500
miles on a drive through California. Read the full story here. EPA numbers read
520 miles for the 933-hp Air Dream Edition R on 19-inch wheels, or 481 miles if
it's riding on 21s. If you want maximum performance, go for the Air Dream Edition
P, packing an astounding 1,111 horses. Range for that model is 471 miles with 19-
inch wheels and 451 miles if the buyer springs for the 21-inch wheels.

Similar to the way Tesla rolled out the Model 3, Lucid will be releasing high-dollar
top-spec versions of its new sedan first. To be one of the first Lucid Air owners,
you'll have to shell out for the loaded Dream Edition—a $169,000 super sedan
with over 500 miles of range and more than 1,000 horsepower. An 800-hp Grand
Touring model is said to follow at $139,000 along with a 410-mile Touring variant
at $95,000 Q4 2022 and an $90,000 RWD model to round out the lineup in 2023.
At the very top of the lineup, the
Grand Touring Performance model
stickers for $180,650.
Lucid Air Touring:

GENERAL:
The Lucid Air is an all-electric 4-door sedan, designed by the American automotive
company Lucid Motors. Originally teased as the "Atieva Atvus" it was unveiled as
the "Lucid Air" in December 2016 and originally planned to be available about two
years later.

DESIGN:
Designed from the inside out, Lucid Air is meticulously sculpted to maximize
interior space. Below a sweeping glass canopy, the ultra-spacious cabin provides
an unrivaled sensory experience.

INTERIOR:
Inspired by an executive jet, the Air offers optional executive rear seating with 55
degrees of recline, affording moments to stretch out and relax.

PERFORMANCE:
Lucid’s powertrain technology unleashes breathtaking performance with world-
class range and efficiency. Developed entirely in-house, this integrated system
delivers the ultimate EV driving experience. Hitting top speeds or hugging tight
corners, Lucid Air’s perfectly calibrated air springs, advanced damper technology,
and low center of gravity deliver precision handling and a smooth ride.
AUTOPILOT
In the future, Lucid's assistive technology will help you and your family get things
done. Over-the-air software upgrades will allow Lucid Air to transition through
progressive levels of autonomy. In the future, your car will be able to retrieve
your groceries, pick up your kids from practice, or provide you with a moment to
sit back and relax as you are safely driven
home.

Lucid Air Dream Edition:

Lucid Air Dream Edition comes in the form of two limited production models:
Performance and Range. Dream Edition P is optimized for speed and acceleration,
while Dream Edition R maximizes range. Both models have dual motors powering
all four wheels, and a top speed of 168 mph. They also feature exclusive exterior
and interior trim and every available upgrade.
The soft light and muted colors of daybreak on Santa Monica beach inspire the
Dream Edition’s exclusive interior palette and name: Santa Monica. A calming
tone is set with Napa full-grain
leather in Graphite Grey and Ceramic
with sophisticated Alcantara inserts,
complemented by Silvered
Eucalyptus wood and bright
Platinum metal trim.
Lucid Group Stakeholders:

Lucid stock performance and price drivers

LCID Group stock debuted on the market at $25.24 a share and ended the first
trading day at $26.83 a share, 10.64% higher than the opening price.
Lucid Group hit its highest price of $57.75 on 17 November 2021 after it reported
that reservations of Lucid Air had jumped 30% to 17,000 by 15 November, up
from around 13,000 in September 2021.
However, things have been on a downward trajectory since then. The company’s
share price suffered from a broader market sell-off of tech stocks and challenges
to ramp up production.
Automakers, particularly EV manufacturers, have been hit by widespread
semiconductor shortages since 2020, which delayed production and hurt sales.
Chips are needed in car manufacturing for features such as automatic braking,
power steering and airbag deployment.
In the second quarter of 2022, Lucid halved its production guidance for 2022 to
6,000-7,000 vehicles, from the initial plan of 12,000 to 14,000 vehicles.
Year-to-date, the Lucid Group stock price has fallen more than 62%. Since its
debut in 2021, the stock has
declined by nearly 41%. As of 22
September, Lucid’s stock closed at
$14.31.
Biggest institutional Lucid Group shareholders

An institutional investor is a company that invests on behalf of others.

Investments made by institutional investors depend on their clients'
objectives. Retail investors are individuals who invest their own money.
Institutional investors typically have more financial muscle than retail investors,
allowing them to trade big volumes of shares and exert significant influence on
stock movements. Information on institutional holdings can be used to forecast a
company’s volatility and value, according to Nasdaq.

Based on data compiled by Nasdaq and WallStreetZen, as of 23 September, Public

Investment Fund, Vanguard Group and Blackrock (BLK) are three top LCID holders
among institutional investors.

Public Investment Fund

The Kingdom of Saudi Arabia’s sovereign wealth fund, the Public Investment Fund
(PIF), owns the biggest amount of Lucid’s stock: 60.7% worth $15.80bn, according
to July data from Security and Exchange Commission (SEC) filing.

As the Kingdom’s investment arm, PIF has a broad portfolio of domestic, regional,
and international investments across asset classes and geographies. With
$6,120bn of assets under management (AUM), PIF is the world’s six largest
sovereign wealth fund, according to data from SWF Institute.
According to Nasdaq’s data, as of June 2022, consumer cyclicals account for the
biggest portion in PIF investments (nearly 53%). Technology comes second
(30.33%).
In addition to Lucid, the PIF has invested in several major US companies, including
Starbucks (SBUX), PayPal Holdings (PYPL), Microsoft (MSFT) and Costco Wholesale
Corporation (CSTO). Lucid has started construction of its factory in Saudi Arabia,
the AMP-2, which will have the capacity to produce 155,000 EVs. It was part of an
agreement that the company signed in February 2022 with the Kingdom’s
government. As part of the deal, Saudi Arabia will purchase 100,000 Lucid’s cars
over a 10-year period.

M.Klein & Company

Global strategic advisory and investment firm M. Klein & Company was the
second biggest Lucid stock owner among institutional shareholders, with 51.75
million shares representing a 3% stake, according to data from SEC’s filing.
The company was founded in 2012 by investment banker Michael Klein, who has
three decades of leadership experience at Citigroup.
Vanguard Group
Pennsylvania-based investment advisor Vanguard Group was the third biggest
Lucid shareholder among institutions, with roughly 2.46% of the overall stock
worth $642.12m, according to WallStreetZen and Nasdaq data, as of 23
September.
According to Advratings, Vanguard is the world’s second largest asset manager,
with $7.5trn of AUM, as of 30 April 2022.
Established in 1975, Vanguard offers a broad range of investments, advice,
retirement services and insights to individual investors, institutions and financial
professionals.
The company is well known for its work in developing index-tracking mutual and
exchange-traded funds (ETFs) that are easily accessible to retail investors. Such
financial instruments are designed to track the performance of a benchmark
index, such as the S&P 500 (US500) or the Nasdaq 100 (US Tech 100) Public
Investment Fund.

Biggest individual shareholders of Lucid Group stock

Lucid insiders who own the most shares of LCID are the company’s CEO and Chief
Technology Officer (CTO) Peter Dore Rawlinson, Director Turki Alnowaiser, and
Senior Vice President of Product and Chief Engineer Eric Bach, according to SEC
filings data.

Peter Dore Rawlinson

Peter Rawlinson has served as the company’s CEO and CTO since April 2019.
Before joining Lucid, Rawlinson was Vice President of Vehicle Engineering and
Chief Engineering at Tesla (TSLA). Rawlinson holds a 1.26% stake of 21.24 million
shares, according to September SEC filings, making him Lucid's biggest individual
insider investor.

Turki Alnowaiser

Turki Alnowaiser has been on the Lucid board of directors since 2019. Since June
2021, he has served as PIF’s deputy governor and head of the international
investments division. As of 6 September 2022, Alnowaiser held roughly 2 million
shares, representing a 0.12% stake in Lucid, according to SEC’s filings.

Eric Bach

Prior to working with Lucid, Eric Bach was Tesla’s chief engineer from 2012 to
2015. As of 6 September, Bach had 1.75 million shares, representing a 0.10%
stake in Lucid, based on SEC data.
Sustainability:
Their mission of designing and building luxury electric vehicles with a deep
respect for nature. The factory in Arizona is the first Greenfield EV factory in north
arngLio, and it was designed to minimize carbon emissions where practical
through energy efficient design and plans for renewable energy generations
onsite. They strive to reduce the environmental impact of manufacturing while
maintaining their relentless drive to produce high-quality vehicles for their
customers. They currently have a 1 mega-watt (MW) capacity solar power system
in Arizona (with a total capacity of 2 MW across all sites) and they are actively
working to increase usage of renewable energy. Their operations pair with an
environmental, health, and safety policy that encompasses training,
measurement, and monitoring of data, and corrective actions for continuous
improvement. Additionally, to emphasize our focus on quality, their Arizona
factory has been ISO-9001 certified, a globally recognized quality management
system (QMS), since December 2021.

Lucid works closely with suppliers to ensure interior materials are luxurious as
well as environmentally and socially responsible. Sustainably harvested wood
options include eucalyptus, walnut, and red oak. Textile options include an alpaca
wool blend that requires minimal dye and recycled yarn processed with an
advanced air-texturing
process. Additionally, we
maintain a supplier code of
conduct to set expectations
for governance and
responsibility in areas such as
anti-corruption, business
ethics, human rights, health
and safety, and environmental
stewardship.
Business Factor:

The Grand Touring Performance model can jump to 60 mph in just 2.6 seconds
or, when driven sedately, can sail on for 516 miles—its estimated driving range,
according to the EPA. That's enough range to get from Boston to Baltimore with
electrons left over. More important, it's more range than any other EV currently
offers. The new Sapphire model is even quicker, with a claimed 60 mph time of
under 2.0 seconds. The Air's stylish exterior and spacious cabin add to its
desirability, but its price tag had us
expecting to find plusher materials
inside. Almost all of the car's controls
are accessed through one of several
display screens that dot the cabin, a
reminder of Lucid's Silicon Valley
roots, and the software interface in
the early cars is still a work in
progress. Otherwise, the luxury four-
door's performance, driving range,
and general snazziness make it a
viable competitor for high-dollar EVs
such as the Porsche rayon and
Mercedes Benz EQS, as well as that
other high-impact EV disruptor, the Tesla Model S.
Economic Factors:

Lucid bulls are in great hands. The California-based company's management has
executed well so far by completing its first purpose-built EV factory in Arizona last
year. The $700 million Casa Grande facility will have a future capacity to produce

350,000 units a year and will set the backdrop for an eventual expansion of total
production capacity for Lucid to half a million cars a year by the middle of the
decade. The remainder of this total will come from a second 155,000 production
capacity factory in Saudi Arabia to serve the fledgling Middle Eastern EV market.
Lucid last reported earnings for its fiscal 2022 first quarter which saw revenue
come in at $57.7 million as deliveries peaked at 360 against guidance for
production volume of 12,000 to 14,000 vehicles for the year. Lucid expects to
deliver 49,000 vehicles in 2023, rising to 90,000 in 2024. This would be for
revenue of $5.5 billion and $9.9 billion respectively. However, the specter of a
recession towards the latter half of 2023 has been flagged as a core risk for an
embattled US economy already fighting record levels of inflation. Hence, whilst
the EV market is likely going to realize a material ramp in demand over the next
decade, a protracted and pronounced period of negative economic growth would
derail Lucid’s delivery targets and
jeopardize its ambition to turn free
cash flow positive from 2025.
Risk Factors

According to the new TipRanks' Risk Factors tool, LCID's main risk categories are
Finance & Corporate and Production, which account for 35% and 25%,
respectively, of the total 84 risks identified for the stock. Recently, the company
has added 78 new risks to its profile. The company has told investors that it has
designated specific courts in Delaware as the exclusive forum for resolving
disputes with shareholders. It cautions that the court designation could limit the
ability of shareholders to bring up cases in courts of their choice. The company
also warns that it may incur additional costs if it were forced to resolve disputes
with shareholders outside its preferred courts and that could adversely affect its
business and financial condition. Lucid has informed investors that it is controlled
by an investor called Ayer, which owns 62.7% of its common stock. As a result of
being a controlled company, Lucid says, it is exempt from certain corporate
governance requirements. What this means is Lucid shareholders may not have
the same protections that are available to shareholders of companies that are not
controlled. It cautions that when it comes to merger or takeover transactions,
Ayar’s interests may not align with those of other shareholders. Lucid tells
investors that its business is capital intensive, and it does not expect its
operations to generate positive cash flow for several years. Therefore, the
company will need to raise additional funds to support its business growth. It can
use equity or debt financing options. It cautions that equity or convertible debt
financing could result in existing shareholders suffering significant dilution. If the
company chooses a debt financing option, it may be subject to restrictions that
could make it difficult to obtain additional funds in the future. Lucid warns that it
may need to delay or change its plans if it fails to obtain adequate financing and
that could hurt its prospects. The Finance and Corporate risk factor's sector
average is at 35%, slightly above LCID's 34%. Shares of the company have gained
about 455% year-to-date.

Q3 Financial Results
Lucid's revenue of $232,000 for the third quarter of 2021 fell short of the
consensus estimate of $1.25 million. Further, it posted a loss per share of $0.43,
which also missed the consensus estimate of a loss of $0.25 per share. The
company ended the quarter with $4.8 billion in cash.

Project stages:
References:

- Clifford F. Gray and Erik W. Larson, “Project Management: The Managerial

Process, 4th Edition”, McGraw-Hill, ISBN: 9780073525150, 2008
- Kerzner Harold, “Project Management: A Systems Approach to Planning,
Scheduling, and Controlling”, Wiley; 9 edition, ISBN: 978-0471741879,
2005.
- PMBOK® Guide, Fifth Edition, 2013
- https://www.lucidmotors.com/sustainability
- https://electrek.co/guides/lucid-motors/
- https://www.azcentral.com/story/money/business/energy/2020/12/01/luc
id-motors-factory-az-completed-manufacturing-begin-2021/6407567002/
- https://capital.com/lucid-group-shareholder-who-owns-most-lcid-stock
- https://www.dailylucid.com/posts/lucid-motors-massive-infrastructure-
plans
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