Lucid Motors Announces Digital Platform to Facilitate EV Financing

American electric car maker Lucid Motors (NASDAQ: LCID) has unveiled a digital financing platform dubbed Lucid Financial Services to provide Air EV customers in America with leasing and loan purchase options. Lucid Motors has partnered with the Bank of America to provide the financing options.

Lucid Motors first announced that production on the Lucid Air EV had begun in September 2021 with deliveries expected to begin in late 2022. Despite struggling to meet production targets because of supply chain constraints coupled with recalls, Lucid’s Air EV has been met with positive reviews.

At the moment, the Newark, California-based company is delivering the second trim level of the Air EV Sedan. Lucid’s flagship electric sedan will have four available trims in total, with the least expensive trim costing $77,400 and the most expensive trim going for a cool $169,000.

A small percentage of Americans can afford to buy an electric vehicle outright, not to mention the cost of installing a charger at home. With the average EV costing thousands of dollars more than its combustion engine counterpart, a significant percentage of EV sales have relied on government incentives and subsidies.

Lucid’s offerings are anything but average. The company is looking to become a major player in the luxury electric vehicle segment, and its prices are representative of that. However, the new Lucid financial services platform will allow people who wouldn’t have been able to afford the Lucid Air otherwise to buy or lease a vehicle.

Lucid customers will now be able to handle their entire purchase digitally, thanks to Lucid’s new platform. The platform will also allow customers to complete their financing applications and sign the purchase contract online, thanks to a strategic partnership with Bank of America.

The EV maker wrote in a media room post that Lucid Air customers had requested “flexible financing options,” with many of them preferring a 100% digital experience when making their purchases. On top of completely digitizing the entire experience, Lucid will also provide customers with personalized support to help them navigate the Lucid financial services platform with ease.

The Bank of America is promising to provide Lucid Air customers with competitive financing rates. Prospective Lucid Air customers will be able to apply for purchase loans of various terms or lease terms for 24, 36 or 48 months.

American customers who are currently accepting deliveries for the Air Grand Touring EVs as well as future customers accepting deliveries of the Pure and Touring models later this year will be able to access the digital financing platform.

About Green Car Stocks

Green Car Stocks (GCS) is a specialized communications platform with a focus on electric vehicles (EV), as well as other emerging market opportunities in the green sector. The company provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, GCS is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, GCS brings its clients unparalleled visibility, recognition and brand awareness. GCS is where news, content and information converge.

To receive SMS text alerts from Green Car Stocks, text “Green” to 844-397-5787 (U.S. Mobile Phones Only)

For more information, please visit https://www.GreenCarStocks.com

Please see full terms of use and disclaimers on the Green Car Stocks website applicable to all content provided by GCS, wherever published or re-published: https://www.GreenCarStocks.com/Disclaimer

Green Car Stocks
Los Angeles, CA
www.GreenCarStocks.com
415.949.5050 Office
[email protected]

Green Car Stocks is part of the InvestorBrandNetwork.

Archives

Select A Month

Contact us: (310) 299-1717