Lucid Joins the United Nations Global Compact
Lucid Group (NASDAQ: LCID) announced its commitment to sustainable transportation by joining the United Nations Global Compact, a major sustainability initiative with over 21,800 participating companies worldwide. This milestone underscores Lucid's dedication to decarbonizing transportation, as stated by CEO Peter Rawlinson. The company's in-house technology allows the Lucid Air to achieve impressive energy efficiency, contributing to lower carbon emissions and enabling smaller battery packs. By aligning with the UN's principles on human rights, labor, environmental practices, and anti-corruption, Lucid further commits to transparency and sustainability. The Lucid Air, a luxury electric vehicle, is currently being delivered across the U.S., Canada, Europe, and the Middle East, boasting up to 516 miles of range.
- Joined the UN Global Compact, enhancing sustainability credibility.
- Lucid Air recognized as a leader in luxury EV with improved energy efficiency.
- Commitment to transparency in sustainability practices.
- None.
Demonstrates Lucid's Commitment to Inspire the Adoption of Sustainable Transportation
NEWARK, Calif., April 19, 2023 /PRNewswire/ -- Lucid Group, Inc. (NASDAQ: LCID), setting new standards for luxury electric experience with the Lucid Air, winner of the 2023 World Luxury Car Award, today announced that it has joined the United Nations (UN) Global Compact, the world's largest voluntary corporate sustainability initiative. With more than 21,800 companies in over 162 countries participating, the UN Global Compact seeks to mobilize a global movement of sustainable companies and stakeholders.
"Joining the UN Global Compact is a milestone in our sustainability journey and a symbol of our dedication to decarbonizing transportation worldwide," said Peter Rawlinson, Lucid's CEO and CTO. "As an electric vehicle company relentlessly focused on engineering and performance, our in-house technology enables Lucid Air to generate more range with less energy than any other electric vehicle."
"With each extra mile that we extract per kilowatt-hour of energy, less energy is needed from the electrical grid to get you safely to your destination, and fewer carbon emissions are produced. This same technology and innovative approach can similarly enable smaller, lower-cost battery packs that retain competitive range — which in turn will benefit the environment by requiring fewer battery cells per vehicle," Rawlinson added.
The UN Global Compact challenges companies to conduct business responsibly by aligning their operations and strategies with the UN's Ten Principles which pertain to human rights, labor, environmental practices, and anti-corruption. It also commits companies to take actions in accordance with the UN Sustainable Development Goals (SDGs). These goals provide a powerful aspiration for businesses, governments, civil society, and citizens to make a better world.
By joining UN Global Compact, organizations commit not only to sustainable practices but also to enhancing transparency. Participation in the UN Global Compact requires signatories to report yearly on their commitment to the universal sustainability principles and development goals. To learn more about the UN Global Compact, visit https://www.unglobalcompact.org.
About Lucid Group
Lucid's mission is to inspire the adoption of sustainable energy by creating advanced technologies and the most captivating luxury electric vehicles centered around the human experience. The company's first car, the Air, is a state-of-the-art luxury sedan with a California-inspired design. The Lucid Air Grand Touring features an official EPA estimated 516 miles of range or 1,050 horsepower. Produced at Lucid's factory in Casa Grande, Arizona, deliveries of Lucid Air are currently underway to customers in the U.S., Canada, Europe, and the Middle East.
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Forward-Looking Statements
This communication includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "shall," "expect," "anticipate," "believe," "seek," "target," "continue," "could," "may," "might," "possible," "potential," "predict" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding Lucid's plans and expectations regarding Lucid's participation in the UN Global Compact, including Lucid's commitment to inspire the adoption of sustainable transportation, and the promise of Lucid's technology, including the potential environmental impact of Lucid's technology. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of Lucid's management. These forward-looking statements are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from these forward-looking statements. Many actual events and circumstances are beyond the control of Lucid. These forward-looking statements are subject to a number of risks and uncertainties, including those factors discussed under the heading "Risk Factors" in Part I, Item 1A of Lucid's Annual Report on Form 10-K for the year ended December 31, 2022, as well as other documents Lucid has filed or will file with the Securities and Exchange Commission. If any of these risks materialize or Lucid's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Lucid currently does not know or that Lucid currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Lucid's expectations, plans or forecasts of future events and views as of the date of this communication. Lucid anticipates that subsequent events and developments will cause Lucid's assessments to change. However, while Lucid may elect to update these forward-looking statements at some point in the future, Lucid specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Lucid's assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.
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SOURCE Lucid Group
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