RELEASE: Lucid Announces the Opening of Its First Sales and Service Center in the Netherlands

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RELEASE: Lucid Announces the Opening of Its First Sales and Service Center in the Netherlands

(Information sent by the signatory company)

-Lucid announces the opening of its first sales and service center in the Netherlands, after earning the highest rating of five stars in the Euro NCAP safety assessment.

AMSTERDAM, Dec. 16, 2022/PRNewswire/ -- Lucid Group, Inc. (NASDAQ: LCID), which sets new standards with the longest-range, fastest-charging electric car on the market, today announced the opening of its third location of sale in Europe - and first center of service, delivery and sales - on December 16 in Hilversum, the Netherlands, just outside Amsterdam. The opening comes a week after Lucid's first vehicle, the Lucid Air, earned the highest possible rating of five stars in the rigorous Euro NCAP crash test process.

First point of sale in the Netherlands

Lucid Motors, with its European headquarters in Amsterdam, The Netherlands, is actively expanding its physical presence in the region with the opening of its third point of sale and its first sales, delivery and service center in Europe, located in Hilversum, just outside of Amsterdam. Lucid's 2,232 square meters of luxury sales and service space, located at Bussumergrintweg 12 in Hilversum, will offer comprehensive sales and support service to Dutch customers. Additional Lucid stores are scheduled to open in 2023 in key European markets.

"The Netherlands is a key market for Lucid due to its high adoption of electric vehicles and a very mature charging infrastructure," said Eric Bach, Senior Vice President of Product and Chief Engineer of the Lucid Group. "With industry-leading range and charging efficiency, combined with an elegantly aerodynamic exterior design and a spacious and luxurious interior, the Lucid Air offers Dutch customers something truly unique, which is reflected in the design of the Studio space at Hilversum."

Five stars in the Euro NCAP safety assessment

"Safety has been a top priority from the beginning at Lucid and achieving five stars in Euro NCAP will give owners greater confidence in their Lucid Air," added Bach. "This is a fantastic result that was fully expected given the extensive engineering process for the Lucid Air, but it's important to note that passive safety is only part of the overall safety story. With an array of 32 sensors available in DreamDrive Pro, we also offer one of the most comprehensive active safety systems in the industry."

Lucid has brought the Lucid Air clean design and engineering with the goal of ensuring the highest possible safety ratings. The innovative battery pack adds to the strength of the vehicle's structure. The vehicle is characterized by the intensive use of high-strength, lightweight aluminium, manufactured using an innovative hot-forming process that allows for complex part geometries. In Europe, the Lucid Air is manufactured with nine airbags, including an airbag between the passenger and the driver for additional protection in the event of a side collision.

In the NCAP evaluation, the Lucid Air earned five stars in all categories (adult occupant protection, child occupant protection, vulnerable road users, and safety assistance), making the Lucid Air one of the safest electric vehicles in the world. the business class.

About Lucid Group Lucid's mission is to inspire the adoption of sustainable energy by creating advanced technologies and the most captivating luxury electric vehicles centered on the human experience. The company's first car, the Lucid Air, is a state-of-the-art luxury saloon with a California-inspired design that offers a luxurious full-size interior space in a mid-size exterior space. The Lucid Air Grand Touring has an official range estimated by the EPA of 516 miles or 1,050 horsepower. Deliveries of the Lucid Air, which is produced at Lucid's Casa Grande, Arizona factory, are currently underway to customers in the US and Canada.

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TrademarksThis communication contains trademarks, service marks, trade names, and copyrights of Lucid Group, Inc. and its affiliates and other companies, which are the property of their respective owners.

Forward-Looking Statements This communication includes "forward-looking statements" within the meaning of the "safety" provisions of the US Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as "estimate", " plan", "project", "forecast", "intend", "will", "expect", "anticipate", "believe", "seek", "goal", "continue", "could", "may" , "may", "possible", "potential", "predict" or other similar expressions that predict or indicate future events or trends or are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding plans and expectations regarding the new Lucid Studio in the Netherlands, plans regarding future openings of new Studios and service centers, including anticipated timelines and locations, and the promise of Lucid's technology. These statements are based on various assumptions, whether or not identified in this communication, and the current expectations of Lucid management. These forward-looking statements are not intended to serve as a guarantee, assurance, or definitive statement of fact or probability, nor should they be considered by any investor as such. Actual facts and circumstances are difficult or impossible to predict and may differ from these forward-looking statements. Many actual events and circumstances are beyond Lucid's control. These forward-looking statements are subject to a number of risks and uncertainties, including factors discussed under the heading "Risk Factors" in Part II, Item 1A of Lucid's Quarterly Report on Form 10-Q for the quarter ended December 30. September 2022, as well as other documents that Lucid has filed or will file with the Securities and Exchange Commission. If any of these risks materialize or Lucid's assumptions prove incorrect, actual results could differ materially from results implied by these forward-looking statements. There may be additional risks that are not currently known to Lucid or are currently considered by Lucid to be irrelevant and could also cause actual results to differ from those contained in forward-looking statements. In addition, forward-looking statements reflect Lucid's expectations, plans or forecasts regarding future events and opinions as of the date of this communication. Lucid anticipates that subsequent events and developments will cause Lucid's valuations to change. However, while Lucid may choose to update these forward-looking statements at some time in the future, Lucid specifically disclaims any obligation to do so. These forward-looking statements should not be considered representative of Lucid's valuations at any date after the date of this communication. Accordingly, undue reliance should not be placed on forward-looking statements.

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