Lucid Details Upcoming Midsize Platform and Announces New Recurring Revenue Streams, Outlining a Disciplined Path to Profitable Scale

• Multifaceted strategy to achieve profitability includes: expanded software and mobility revenue streams, manufacturing scale, rigorous capital allocation, and material cost reductions
• Revealed key technical and strategic details of its upcoming Midsize platform, which delivers segment leading features with improved manufacturing efficiency and cost
• Platform includes three models, the first two are Lucid Cosmos and Lucid Earth
• Highlighted advanced discussions with Uber to finalize an agreement to deploy Lucid Midsize platform vehicles at a scale similar to the Gravity robotaxi program, with intention to increase over time 
• Introduced Lunar, a purpose-built robotaxi concept based on the Midsize platform
• New Atlas drive unit extends Lucid's efficiency leadership while lowering cost

NEWARK, Calif., March 12, 2026 /PRNewswire/ -- Lucid Group, Inc. (NASDAQ: LCID), maker of the world's most advanced software-defined vehicles and technologies, today announced a comprehensive financial and product strategy designed to scale its business, accelerate its path to profitability and positive free cash flow, and extend its technology leadership into higher volume premium segments of the global automotive market.

At Lucid's investor day in New York, the company outlined key technical and strategic elements of its upcoming Midsize platform and revealed its next-generation Atlas electric drive unit. Lucid also previewed planned software and technology updates, including an in-vehicle AI assistant and its autonomy roadmap, and reinforced its strategy to monetize software and services as it scales.

Lucid also highlighted continued advancement of its strategic relationship with Uber, as the companies finalize an agreement to deploy Lucid Midsize platform vehicles at a scale similar to the Gravity robotaxi program, with intention to increase over time.

Together, these announcements mark a pivotal evolution for Lucid as the company leverages its technology leadership and radical efficiency approach to strengthen near-term execution and accelerate its path to profitability and free cash flow generation.

"Lucid has already proven its capabilities through technology and product leadership," said Marc Winterhoff, Interim CEO at Lucid. "Today, we're keeping the same Lucid product and technology DNA intact, while applying increased scale, capital efficiency, and cost discipline, and materially reduced costs, to enable a great business with a clear and credible path to profitability and free cash flow, supported by what we are executing now and what we are building for the future."