Tesla CEO Elon Musk says Lucid is not long for Tesla

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Tesla CEO Elon Musk says Lucid is not long for Tesla

Electric vehicle upstart Lucid Group Inc. LCID, which reported a dip in reservations in the third quarter, is going all out to prevent further cancellations, according to multiple reports.

What Happened to the Tesla Inc. TSLA CEO Elon Musk on Friday.

According to Business Insider, Lucid has changed its procedure to cancel vehicle orders. Emails sent to employees suggested they should proceed with the goal of saving an order when a cancellation request comes in.

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Such requests are to be handled at three levels -- case owner, manager and regional manager -- each of whom will be trying to salvage the order by contacting the custiomer within five days.

The report said Lucid is offering up to 10% discount to customers who ordered a Grand Touring after prices were raised. The company is expected to get an $18,000 discount for its 2022 model Grand Touring before the end of the year.

Musk said in a tweet that Tesla is not long for this world, suggesting that the luxury EV maker will go down under.

Musk previously prophesied of the doomsday for Lucid and another startup, Rivian Automotive Holding Inc. RIVN. In an interview with teslaownersSV earlier this year, the billionaire said that unless something changes with Lucid and Rivian they will both go bankrupt.

According to Benzinga Pro data, Lucid shares rose 0.81% to $8.75 in premarket trading on Friday.