RELEASE: Lucid announces the opening of the first Swiss retail location in Geneva

The grand opening of Lucid Studio at Cours de Rive 10 will take place on November 18.

RELEASE: Lucid announces the opening of the first Swiss retail location in Geneva

The grand opening of Lucid Studio at Cours de Rive 10 will take place on November 18

AMSTERDAM, Nov. 17, 2022 /PRNewswire/ -- Lucid Group (NASDAQ: LCID), which is setting new standards with its advanced luxury electric vehicles, today announced plans to open its first retail store in Switzerland, Lucid Studio on Cours de Rive 10 in Geneva, on Friday, November 18, 2022.

The luxury retail space will invite customers to experience the Lucid brand and its products in the heart of Geneva. Swiss Studio will mark the company's second retail location in Europe, following the opening of Munich Studio in May of this year. Lucid hopes to expand its physical footprint in other countries in Europe in the coming years.

"The response to Lucid at the recent preview event in Zurich has been tremendous, reflecting the country's unique embrace of luxury, innovation and the environment," said Zak Edson, Lucid Group vice president of sales and service. "We have a growing number of Lucid Air reservation holders in Switzerland and the new Lucid Studio in Geneva will offer the perfect opportunity for EV enthusiasts to get involved and learn about the innovative Lucid Air.

Studio Experience

With a direct-to-consumer model, each Lucid Studio offers a premium digitally oriented experience tailored to each client's preferences, whether they visit in person, inquire entirely online, or a combination of both. Lucid's Geneva Studio will allow customers to fully experience the brand and learn about its products in a location that highlights the company's unique design aesthetic. By exploring a Lucid Studio, visitors will gain insight, in their local language, into how the company is inspired by the beauty, innovation, and diversity of its home state of California, USA.

European expansion

Lucid is accepting reservations from European customers and is expected to deliver the first vehicles in Europe by the end of 2022. When making a fully refundable reservation starting at €300, customers in Austria, Belgium, Denmark, Finland, France, Germany, Italy, Monaco, the Netherlands, Norway, Spain, Sweden, Switzerland and the United Kingdom can secure their place in line for the Lucid Air Pure, Touring and Grand Touring models when deliveries begin in their respective countries. Further expansion in Europe is planned in the future, including additional studios and service centers in major European cities.

About Lucid Group Lucid's mission is to inspire sustainable energy adoption 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 sedan with a California-inspired design that features a luxurious full-size interior within a mid-size exterior. The highly anticipated Lucid Air Grand Touring boasts 819 horsepower. Deliveries of Lucid Air, which is produced at Lucid's Casa Grande, Arizona factory, are currently being delivered to customers in the US and Canada.

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Trademarks This communication contains trademarks, service marks, trade names, and copyrights of Lucid Group, Inc. and its subsidiaries 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 "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as "estimate", "plan", "project", "forecast", "try", "will", "should", "hope", "anticipate", "believe", "seek", "target", "continue ", "could", ""may", "could", "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 Geneva, Switzerland, including the experience of the studio, Lucid's expectations regarding its expansion into Europe, the timing of delivery of Lucid vehicles to Europe , prices, availability of e Lucid vehicles and the promise of Lucid technology. These statements are based on various assumptions, whether or not identified in this release, and the current expectations of Lucid management. These forward-looking statements are not intended to serve as, and should not be relied upon by any investor, a guarantee, assurance, or definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from these forward-looking statements. Many actual events and circumstances are outside of 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 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 Lucid is not currently aware of or that Lucid currently believes are immaterial that could also cause actual results to differ from those contained in any forward-looking statements. In addition, forward-looking statements reflect Lucid's expectations, plans or forecasts regarding future events and views as of the date of this release. Lucid anticipates that subsequent events and developments will cause evaluations of Lucid 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 relied upon as representative of Lucid's evaluations as of any date after the date of this communication. Accordingly, undue reliance should not be placed on any forward-looking statements.

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