Lucid Group (LCID) Q2 2023 Earnings Call Transcript

For the period ending June 30, 2023

August 7, 2023 5:30 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Hello, and thank you for standing by. Welcome to Lucid Group's Second Quarter 2023 Earnings Conference Call. [Operator Instructions]. I would now like to hand the conference over to Maynard Um. Sir, you may begin.

Maynard Um

Thank you, and welcome to Lucid Group's Second Quarter 2023 Earnings Call. Joining me today are Peter Rawlinson, our CEO and CTO; and Sherry House, our CFO.

Before handing the call over to Peter, let me remind you that some of the statements on this call include forward-looking statements under federal securities law. These include, without limitation, statements regarding the future financial performance of the company, production and delivery volumes, financial and operating outlook and guidance, macroeconomic and industry trends, company initiatives and other future events. These statements are based on the predictions and expectations as of today, and actual events or results may differ due to a number of risks and uncertainties. We refer you to the cautionary language and the risk factors in our most recent filings with the SEC and the forward-looking statements on Page 2 of our investor deck available on the Investor Relations section of our website at ir.lucidmotors.com.

In addition, management will make reference to non-GAAP financial measures during this call. A discussion of why we use non-GAAP financial measures and information regarding reconciliation of our GAAP versus non-GAAP results is available in our earnings press release issued earlier this afternoon as well as in the investor deck. With that, I'd like to turn the call over to Lucid's CEO and CTO, Peter Rawlinson. Peter, please go ahead.

Peter Rawlinson

Thank you, Maynard, and thank you, everyone, for joining us for our second quarter earnings call. We hit several major milestones in Q2, none of which could have been accomplished without the incredible commitment of our employees. Thank you to the Lucid team for your passion and dedication in driving our mission forward.

We also have many exciting events and announcements planned in the second half of this year that I'm very eager to share with you. But before I do, let me start with our major Q2 milestones and provide an update on our progress of our initiatives. In June, we announced a landmark agreement with Aston Martin, providing them access to our Sapphire electric vehicle powertrain technology, indeed, Sapphire-enabled Aston Martin EVs.