The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Stephen Gengaro - Stifel, Nicolaus & Company Inc - Analyst
: Okay. Sorry about that. I hit mute by mistake. Thanks for taking the questions. What I would like to start with, if you don't mind, is --
can you talk about the approach, the current approach and if it changed to licensing agreements and kind of what you see the
potential there for over the next couple of years?
Question: Stephen Gengaro - Stifel, Nicolaus & Company Inc - Analyst
: Great. Thank you. And I apologize for that background noise. The other question, just the update on how the new Atlas Powertrain
is coming and sort of your confidence in the development of that and the efficiency of that product versus kind of -- because you're
just so well known for how efficient the motor systems are. So I'm just curious where things stand there.
Question: Stephen Gengaro - Stifel, Nicolaus & Company Inc - Analyst
: Great. Thank you, Marc.
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AUGUST 05, 2025 / 9:30PM, LCID.OQ - Q2 2025 Lucid Group Inc Earnings Call
Question: Tobias Beith - Redburn Partners LLP - Analyst
: Hi, good evening, Mark and Taoufiq. I hope you're both well and thanks for your time. I have three questions, if that's okay. Two for
Marc and one for Taoufiq and I'll ask them separately. Marc, in your prepared remarks, you cited the supply of magnets as constraining
production, but output in the second quarter is at an all-time high and also above demand. And I also understand that Gravity and
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AUGUST 05, 2025 / 9:30PM, LCID.OQ - Q2 2025 Lucid Group Inc Earnings Call
the Air use the same amount magnets. So I'm slightly confused. And I was wondering if I can ask the further details on that topic or
if you can tell me what I've missed.
Question: Tobias Beith - Redburn Partners LLP - Analyst
: Okay, I think I understand. Second question for Marc. About two years ago, I asked your predecessor to detail the time line and the
required milestones from them to starting production of the Gravity to help me judge progress from the outside. I was wondering
if you could please do the same for the Atlas Powertrain and the first model based on the midsized platform.
Question: Tobias Beith - Redburn Partners LLP - Analyst
: Thanks for that. Taoufiq, final question from me. How much did step up in the write-downs on inventories and losses on firm purchase
commitments is attributable to tariffs versus building raw inventory to the ramp-up of the Gravity?
Question: Tobias Beith - Redburn Partners LLP - Analyst
: Okay. So just some crystal clear, right, the 21 points of tariff impact, but not all of it was actually realized in the second quarter and
you're still expecting some reimbursements to come later in the year. So actually, the impact on the second quarter was more than
21%?
Question: Tobias Beith - Redburn Partners LLP - Analyst
: Okay, understood. I really appreciate the detail from both of you. Thanks for your time.
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