Tech

Lucid: Elon Musk expects Tesla competitor to go bankrupt

Lucid, one of Tesla’s main rivals, is currently going through a dark period which could well lead it to leave the automobile market if the trend is not reversed quickly. Elon Musk also thinks that bankruptcy is near.

LucidAir
Credit: Lucid

Elon Musk, the CEO of Tesla, has not been kind to its competitor Lucid. In a recent tweet, the eccentric boss once again predicted the demise of Lucid Motors. The billionaire has in the past made numerous remarks to question Lucid, its business model and prospects, but today Elon Musk simply tweeted that they are “not not made for this world “.

Elon Musk’s comment comes after new reports indicated that the electric car maker, which also has its roots in the US state of California, is struggling with an increasing number of vehicle cancellations. This prompted the company to take rather drastic measures.

Lucid struggles to convince its customers

Despite rave reviews and mostly happy owners, the company’s future is now far from secure. In a new Business Insider article, we were able to discover internal emails describing an aggressive approach to stem cancellations of the Lucid Air electric sedan.

Every cancellation is a failure read an email sent to retail employees at Lucid, which outlined a process for “ save these failures. In particular, the company asked its employees to hharassing customers with phone calls for two weeks before cancellations were finalized.

These requests had to be dealt with at three levels. First there was the owner of the file, the manager and finally the regional manager. Each would endeavor to save the order by contacting the customer within five days. Now that Lucid has arrived in Europe, the automaker finds itself without customers to sell its vehicles. The situation is therefore more critical than ever.

The report also cites Barron’s article that Lucid is offering up to 10% off to customers who ordered a Grand Touring after the price hike. Employees would also get an $18,000 discount to purchase its 2022 Grand Touring model before the end of the year. Seeing Lucid leave the market would be a real blow for the industry, since the manufacturer has been offering the most enduring electric cars on the market for a few years now, with a range of over 800 kilometres.

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