Lucid Motors will go out of business, as claimed by Elon Musk.
(Photo : Photo by ODD ANDERSEN/AFP via Getty Images)
Tesla CEO Elon Musk talks to media as he arrives to visit the construction site of the future US electric car giant Tesla, on September 03, 2020 in Gruenheide near Berlin. - Tesla builds a compound at the site in Gruenheide in Brandenburg for its first European "Gigafactory" near Berlin.
The tech CEO bashed the rising automaker after news confirmed that the company deals with canceled orders.
Lucid Motors decided to compete with Tesla in 2021 after it launched the Lucid Air, an electric sedan developed to rival the Tesla Model S.
However, the EV maker is experiencing lots of Lucid Air order cancelations. Because of this, Elon Musk bashed the company.
Lucid Motors to Go Out of Business, Says Elon Musk
According to Electrek's latest report, Lucid Motors is using a very aggressive strategy to reverse Air order cancelations.
(Photo : Photo by PATRICK T. FALLON/AFP via Getty Images)
Palm trees rise above the entrance to the Lucid Motors Inc. studio and service center on February 25, 2021 in Beverly Hills, California. - The California-based electric vehicle company announced this month that it plans to go public via a merger with a company that values it at $24 billion, with the pure-electric luxury sedan Lucid Air launching in 2021.
Many individuals see this as a negative sign for Lucid Motors' business. Among these individuals is Elon Musk.
They are not long for this world
— Elon Musk (@elonmusk) December 9, 2022
"They are not long for this world," said the billionaire via his Twitter account.
In the comment section, many Twitter users said that it was a relief that Tesla was able to make it. They added that the EV industry is a tough sector to enter.
so thankful tesla made it ❤️ it’s tough out there!
— danielle x (@lovemesomemusk) December 9, 2022
Meanwhile, others asked if Musk thinks Rivian would also go out of business.
What about Rivian? Should Tesla buy Lucid after bankruptcy?
— Pager - Monke (@PagerPongMonke) December 9, 2022
Aside from this, they also want to know if Tesla will buy Lucid Motors if the company ever files for bankruptcy.
Lucid Air Order Cancelations
Business Insider reported that many consumers are canceling their Lucid Air orders.
Because of this, the automaker has to use an aggressive technique to reverse these canceled orders.
Two leaked internal emails revealed that Lucid Motors is pressuring retail staff to reverse Air order cancelations.
The method used by Lucid Motors to save canceled orders is calling consumers more than 12 times. Employees are required to do this every day for two weeks.
You can click this link to learn more about how Lucid Motors handles canceled orders.
Although Lucid Motors suffers from canceled purchases, it still launched the new Air Pure and Air Touring EVs.
Lucid Air EV's new Stealth Look was also introduced.
For more news updates about Lucid Motors and other EV makers, keep your tabs open here at TechTimes.
Related Article: Lucid Air EV Sales Reaches Peak This 2022 in Q3 - How Many Cars Were Delivered?
