• Lucid Motors is experiencing a significant increase in orders, particularly from former Tesla owners, as its new Gravity SUV hits the market. Interim CEO Marc Winterhoff noted that about 50% of recent orders are from customers who previously owned Tesla vehicles, indicating a shift in consumer preference towards Lucid's offerings. The Gravity SUV is expected to appeal to a broader market, as SUVs are increasingly favored by American consumers, potentially enhancing Lucid's sales volume and market presence.

• The competitive landscape for luxury electric vehicles is intensifying, with Lucid positioning itself as a viable alternative to Tesla amid recent brand challenges faced by the latter. Winterhoff highlighted that the Gravity SUV's pricing starts at $79,900, just under the federal EV tax credit cap, which could further stimulate demand. However, Lucid must navigate competition from established luxury brands and Tesla's own offerings, which could impact its market share and growth trajectory.