Lucid Motors will go out of business, as claimed by Elon Musk.
The tech CEO bashed the rising automaker after news confirmed that the company deals with canceled orders.
Lucid Motors decided to compete with Tesla in 2021 after it launched the Lucid Air, an electric sedan developed to rival the Tesla Model S.
However, the EV maker is experiencing lots of Lucid Air order cancelations. Because of this, Elon Musk bashed the company.
Lucid Motors to Go Out of Business, Says Elon Musk
According to Electrek's latest report, Lucid Motors is using a very aggressive strategy to reverse Air order cancelations.
Many individuals see this as a negative sign for Lucid Motors' business. Among these individuals is Elon Musk.
They are not long for this world
— Elon Musk (@elonmusk) December 9, 2022
"They are not long for this world," said the billionaire via his Twitter account.
In the comment section, many Twitter users said that it was a relief that Tesla was able to make it. They added that the EV industry is a tough sector to enter.
so thankful tesla made it ❤️ it’s tough out there!
— danielle x (@lovemesomemusk) December 9, 2022
Meanwhile, others asked if Musk thinks Rivian would also go out of business.
What about Rivian? Should Tesla buy Lucid after bankruptcy?
— Pager - Monke (@PagerPongMonke) December 9, 2022
Aside from this, they also want to know if Tesla will buy Lucid Motors if the company ever files for bankruptcy.
Lucid Air Order Cancelations
Business Insider reported that many consumers are canceling their Lucid Air orders.
Because of this, the automaker has to use an aggressive technique to reverse these canceled orders.
Two leaked internal emails revealed that Lucid Motors is pressuring retail staff to reverse Air order cancelations.
The method used by Lucid Motors to save canceled orders is calling consumers more than 12 times. Employees are required to do this every day for two weeks.
You can click this link to learn more about how Lucid Motors handles canceled orders.
Although Lucid Motors suffers from canceled purchases, it still launched the new Air Pure and Air Touring EVs.
Lucid Air EV's new Stealth Look was also introduced.
For more news updates about Lucid Motors and other EV makers, keep your tabs open here at TechTimes.
