Lucid Group

Lucid Targets $50,000 EV to Rival Tesla Model 3 and Model Y

Lucid Motors CEO Peter Rawlinson, once an engineer for Tesla, is looking to push the boundaries of the electric vehicle (EV) market. Drawing from his rich experience with Tesla, Rawlinson is now steering Lucid to tackle two of the most pressing concerns in the EV world: range anxiety and affordability. As the brains behind the […]

Lucid Air Sapphire Unveils Final Specs

Lucid Group has unveiled the final specs for its Lucid Air Sapphire luxury super-sports sedan. This EV boasts a blistering 0-60 mph in just 1.89 seconds and a top speed of 205 mph. The Air Sapphire is not just about speed. It’s a blend of cutting-edge technology and refined design. The vehicle is powered by […]

Lucid Posts Q2 Losses, Holds Firm on 10,000 Vehicle Target

Lucid Group has announced its second quarter financial results for 2023, highlighting an increasing net loss alongside promising growth indicators. Despite the escalating losses, Lucid maintains its annual production guidance of more than 10,000 vehicles for 2023. The company announced a revenue of $150.9 million, attributed to the delivery of 1,404 vehicles. However, the company’s […]

Lucid Motors Drops Air Pricing, Debuts Financing Promos

Lucid Motors has dropped pricing and financing options for its Lucid Air models. As part of the Pure Summer Event for August, the electric vehicle manufacturer has announced some price reductions across its range, ahead of its upcoming earnings release on Monday, August 7, 2023. The Lucid Air Pure AWD, originally priced at $87,000, has […]

Lucid Q2 Deliveries Disappoint Wall Street, Stock Drops

Lucid Group announced on Wednesday that it had delivered a total of 1,404 units of its flagship model, the Air luxury sedan, during the second quarter of 2023. This figure falls short of Wall Street analysts’ estimate of about 2,000 deliveries, according to data gathered by FactSet, leading to an over 11% drop in the […]

Lucid CEO on Tesla Connector Hype: ‘It’s Just a Plug’

Peter Rawlinson, CEO of electric vehicle maker Lucid Group Inc., has raised questions about the rush of automakers moving to adopt Tesla’s charging standards. This discussion follows decisions by General Motors Co. and Ford Motor Co. to transition to what Tesla has recently termed the North American Charging Standard, or NACS. Despite his skepticism, Rawlinson, […]

Aston Martin Partners with Lucid for High-Performance EV Lineup

British luxury automaker Aston Martin has announced a strategic supply agreement with Lucid Group on Monday. The partnership aims to develop a range of ultra-luxury high-performance electric vehicles, marking a significant step in Aston Martin’s electrification strategy. The agreement will see Lucid Group supply Aston Martin with advanced electric powertrains and battery systems. These technologies […]

Lucid Launches $3 Billion Stock Offering, Backed by Saudi Fund

Lucid Group, Inc. has officially declared the start of a public offering of 173,544,948 shares of its common stock today, May 31, 2023. This move by Lucid Group is set to raise around $3.0 billion in gross proceeds. BofA Securities, Inc. will serve as the book-running manager for this offering. The shares will be available […]

Lucid Q1 Reports Growing Losses and Lingering Demand Uncertainty

Electric vehicle maker Lucid Group announced widening losses for Q1 2023 but confirmed that it has enough cash to continue operations into 2024. The news resulted in shares dropping over 8% in after-hours trading. “We are on track to produce over 10,000 vehicles in 2023, with company-wide initiatives ongoing that will enable Lucid to pivot […]

Lucid Gravity SUV Starts Public Road Testing in U.S. [VIDEO]

Lucid Group has announced that their upcoming Lucid Gravity electric SUV is advancing to its latest phase of development and testing. Building on the success of the Lucid Air, the Gravity SUV is now undergoing public road tests across the U.S. “I am excited to see the Gravity SUV moving forward so quickly in its […]

Lucid Q1 2023 Sees 2,314 Cars Produced, 1,406 Delivered

Lucid Group, the maker of the Lucid Air electric sedan, has announced its production and delivery figures for Q1 of 2023, which ended on March 31, 2023. The company produced 2,314 vehicles and delivered 1,406 during the quarter, according to a press release on Thursday afternoon. Compared to Q1 2022, Lucid delivered 360 vehicles. So […]

Lucid Motors Announces Layoffs Affecting 18% of Workforce, Says Memo

Luxury electric vehicle startup Lucid Motors plans to lay off hundreds of employees, affecting approximately 18% of the company, according to an internal memo and five anonymous sources reported by Business Insider. The announcement was made during an all-hands meeting by CEO Peter Rawlinson. With around 7,200 employees globally at the end of 2022, this […]

Lucid Recalls 637 Vehicles for Potential Loss of Power, Details NHTSA Notice

According to a recent National Highway Traffic Safety Administration (NHTSA) recall notice, Lucid USA, Inc. has issued a recall for 637 of its 2022-2023 Lucid Air vehicles due to a potential issue with contactors. These electrically activated switches are responsible for transferring energy to and from the drive units during vehicle startup and shutdown. In […]

Lucid Stock Drops 18% as Q4 Revenue Falls Short of Expectations

Electric vehicle (EV) startup automaker Lucid Motors held its fourth-quarter earnings call on Wednesday, in which its reported revenue failed to meet its own expectations for 2022, as reported by CNBC. The automaker finished the year with roughly $4.4 billion in cash, and around $500 million available through lines of credit which it expects to […]