Lucid sees disappointing 2023 EV production as orders drop amid weakening demand

Lucid said it had more than 28,000 orders as of Feb. 21, down 6,000 reservations from the second quarter, after it delivered about 1,900 vehicles and saw cancellations. That was despite Lucid's offering a discount of $7,500 on Feb. 9 for purchases of certain variants of the Air sedan before March 31.This year, the company will focus on improving production and deliveries, and will take a "vigorous and comprehensive" look at driving down operating and manufacturing costs.

Lucid reported a cash balance of $1.74 billion in the fourth quarter, after raising $1.52 billion in December. At the end of the third quarter, it had $1.26 billion in cash reserves. The company's net loss narrowed to $472.6 million, or 28 cents per share, from a loss of $1.05 billion, or 64 cents per share, a year earlier.

Well shit look at the prices for them. No thanks.

I have seen just 1 of these cars on road vs million Teslas

Well say goodbye to those good-paying green jobs Biden created.

Eiii... Chega Aí

Problem is it already looks dated. Like grandpa’s Buick.

Great car. Too great a price.

Wait until NEM 3.0 starts in California, that’s going to halt the solar industry and electric car sales

They need to stop making ugly electric cars. Just make them look normal.

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Lucid sees 2023 EV production far below forecasts, shares dive 11%Lucid Group Inc on Wednesday forecast 2023 production well short of analysts' expectations and reported a major drop in orders during fourth quarter, sending the electric carmaker's shares down 11% after hours. The most expensive car in the world with pics ($28 million) This company is been scamming investors since inception. There is less than a 0.01% chance that Lucid and Rivian will be around within 1 to 3 years.
Source: Reuters - 🏆 2. / 97 Read more »