A：The key priorities of Lucid Group as mentioned in the speech are disciplined execution and scaling production, building the brand, further driving consumer demand, and advancing technology leadership.

A：Lucid announced a $300 million strategic investment from Uber as part of their partnership to deploy level 4 robot taxis, named Script Samba.

A：Lucid's strategic vision for the autonomous driving market includes leveraging their technology and partnerships to be the first to bring full level 4 capabilities to the B2B market, with the collaboration of Nvidia, and to provide significant upgrades to advanced driving functionality as early as the end of the next year.

A：Lucid's approach to developing autonomous technology is to do both, in-house and with partners. They are focusing on providing high-level autonomy to customers as soon as possible with optimized capital expenditure (CAPEX) spend. They are also continuing in-house development with a smart and resource-efficient approach, having already rolled out hands-free highway driving for the Lucid Air via over-the-air (OTA) update, with plans to bring the same to the Gravity model.

A：The company faced operational execution challenges due to a delay in the ramp up of the gravity, a small number of suppliers not ramping as expected, and extraordinary external headwinds that threatened to shut down production.

A：The company managed to navigate through industry-wide supply chain crises such as magnet, aluminum, and chip shortages by leveraging vertical integration and their team's agility and resourcefulness to problem-solve and minimize impact.

A：Key organizational changes include appointing Iad Dala as senior vice president, engineering and digital, with expanded responsibilities, and Urban Raphael being elevated to Senior Vice President, revenue, with expanded oversight of Lucid's global operations.

A：Man Lerot has been appointed as Senior Vice President, quality, leading efforts to ensure Lucid delivers vehicles that meet the highest standards of quality and craftsmanship.

A：To boost brand awareness, Lucid has accelerated its focus on building the Lucid brand and increasing awareness among luxury and AEV consumers, with successful campaigns featuring notable individuals and partnerships.

A：The significance lies in the fact that the Lucid Air, designed and built in America, was selected as the German Performance Car of the Year, an achievement the entire Lucid team is especially proud of.

A：The progress on the mid-size platform variant is positive, with the team achieving class-leading efficiency, fewer parts, lower battery costs, lower weight, and the inclusion of a rare earth-free variant.

A：Strategic partnerships with Uber, Nvidia, and others contribute to the company's growth and profitability by reshaping the financial model, providing a capital-efficient path to growth, opening doors for new recurring revenue streams, optimizing costs, and driving returns aligned with disciplined capital deployment.

A：Subsequent to the quarter end, Lucid announced it had increased its delayed term loan facility with its majority shareholder, the Public Investment Fund (PIF), from $7 million to approximately $2 billion, all of which remains undrawn. This extension provides Lucid with stable access to liquidity and underscores PIF's ongoing support and confidence in the company's long-term strategy.

A：In the third quarter, Lucid's vehicle deliveries set a new record, increasing by 47% year over year. The deliveries were higher than the production, and the EP improved with a higher Gravity Mix and more high-value configurations. Production-wise, 3,891 vehicles were built, and over 1,000 additional vehicles were produced for final assembly in Saudi Arabia. The company had produced nearly 14,000 vehicles, just short of 15,000 units, not including those in transit to Saudi Arabia for final assembly.

A：Lucid expects total production at the end of the year to be around 14,000 units, which is within their guidance and represents a strong outcome despite the complexities of the macro environment. The company is entering the upcoming quarter (Q4) with a solid foundation for growth, having refined processes, tightened quality controls, and ensured supplier readiness. A second shift was successfully launched in October, further expected to accelerate production growth. Looking ahead, Lucid anticipates a significant delivery growth in Q4, supported by expanded marketing campaigns and the broader availability of Lucid Gravity across multiple streams in October.

A：Lucid's strategy to achieve profitability and cash generation involves executing against plans to reduce cash usage and improve profitability in the short term, which includes ramping the Gravity and launching and ramping the mid-size vehicle. For the midterm, the focus is on further accelerating cash generation and utilizing technology and software to maximize returns in a repeatable model with low capital intensity. Many exciting developments are in the pipeline, and the company aims to continue making progress against its strategic plans to reflect in the share price and shareholder return.

A：Lucid has made significant progress with Uber, successfully delivering the first batch of engineering vehicles for testing. San Francisco is the first city targeted for a 2026 launch, pending regulatory approvals. Additionally, Lucid closed a $300 million equity investment from Uber, indicating Uber's confidence in Lucid as a partner for future robotaxi services.

A：The company is executing against strategies and plans to further consolidate cash generation capabilities, although specific details of these plans are not provided in the transcript.

A：The timeline for the development of an affordable entry-level vehicle is set for the end of 2026, with nothing having changed from this previously communicated goal.

A：Yes, many suppliers that the company is already working with for the Air and Gravity are also providing relief on pricing due to being awarded programs for the midsize vehicle, which is viewed as a positive development.

A：The company is prioritizing capital by focusing on partnerships that are CapEx efficient, allowing the provision of leading edge capability and features to customers without significant CapEx outlay.

A：The projected timeline for achieving Level 4 autonomy is not specified with certainty but aims to roll out an L2 plus version for both Gravity and the mid-size vehicle by the end of next year, with further updates via over-the-air (OTA) updates to eventually reach L4.

A：Deliveries in Q4 are expected to significantly ramp up, with the majority being the Gravity model. COGS are anticipated to decrease as volume increases in the installed factories, leading to a reduction in unit cost. The plan is to continue reducing the cost per unit compared to the performance from the previous year, and the direction provided for gross margin is a good proxy for assessing COGS. The company didn't assume some headwinds like tariffs, which are impacting COGS this year. With the volume projections for next year and benefits from the bill of material and suppliers, the company aims to crystallize improvements in COGS per unit in the short term.

A：Higher deliveries to the government in Saudi Arabia are expected in 2026 due to the ramp up of the midsize vehicle production.

A：The plan is to refinance the maturity of the convertible, and this is separate from the revolver drawdown.

A：The company believes it will succeed due to the recent advancements in AI technology and the approach to autonomy, the progress in their vehicle development lifecycle compared to competitors, and the efficiency of their vehicle models and compute power.

A：Despite the expiration of credits, US sales in the third quarter increased, driven by 2000 leases that were able to take advantage of the tax credits. This indicates strong demand, with the gravity vehicle becoming more available and production ramping up.

A：Lucid has plans to build the mid-size vehicle in M1, with preparations already made in Arizona to produce it. Further expansion will be considered carefully, pending positive results in the current phase.

A：The Atlas propulsion system is on track and represents a significant cost reduction with fewer parts and higher efficiency compared to the current generation. The company is also planning to share more details on the cost reduction and integration at the investor day. Additionally, some versions of the Atlas will not require any rare earth elements.