Lucid Group

Lucid Posts $685 Million Loss in Q1 Amid Slow EV Demand

Lucid Motors has reported a substantial net loss of $685 million in the first quarter of 2024, despite a slight improvement from the $780 million loss recorded in the same quarter of the previous year. The company’s stock reacted negatively, dropping 7.5 percent to $2.82 per share in after-hours trading on Monday. Despite the financial […]

Lucid Q1 2024 Sees 1,967 Deliveries, 40% Increase YoY

Lucid has revealed its production and delivery figures for the first quarter ended March 31, 2024. The company announced it produced 1,728 vehicles and achieved deliveries of 1,967 vehicles during the quarter. This deliveries number beats Wall Street estimates and is far lower than the 2021 SPAC presentation where it said it was forecasted to […]

Lucid Secures $1 Billion Investment from Majority Stockholder

Lucid Group announced a significant financial boost today, revealing an agreement with Ayar Third Investment Company, an affiliate of the Public Investment Fund (PIF), for a $1 billion investment. This investment will come in the form of newly created series of convertible preferred stock through a private placement, contingent on customary closing conditions. The infusion […]

Lucid Misses Sales and Revenue Targets by 90% in 2023

Lucid Group, which set ambitious targets at its public debut, reported vehicle deliveries and revenues significantly below its initial forecasts for 2023. The company had informed investors of a goal to sell 49,000 cars in the year; however, it only sold 6,001 vehicles, marking a substantial 90% shortfall from the anticipated figure. Similarly, Lucid had […]

Lucid Air Juices Up a Tesla to Display EV Charging Feature

Lucid Group has announced the launch of RangeXchange, a novel vehicle-to-vehicle (V2V) charging adapter. This technology allows Lucid Air owners to charge other electric vehicles directly, leveraging the bi-directional charging capability and proprietary software embedded in every Lucid Air. A photo was shared showing a Lucid Air charging a Tesla Model S, with the charging […]

Lucid Delivered 1,457 Cars in Q3, Lowers Production Targets Again

Lucid Group has announced its third-quarter financial results, with revenues reaching $137.8 million, attributed to the delivery of 1,457 vehicles, below Wall Street expectations of over 2,275 cars delivered and $177 million revenue. The company has begun production of the Lucid Air Pure RWD and Lucid Air Sapphire, completing its Lucid Air series. Amidst these […]

Lucid to Adopt Tesla’s North American Charging Standard

Lucid Group has announced a significant update to its charging infrastructure strategy, revealing that Lucid electric vehicles (EVs) equipped with the Combined Charging System (CCS) will gain access to over 15,000 Tesla Supercharger stations across North America starting in 2025. This development comes as Lucid prepares to incorporate Tesla’s North American Charging Standard (NACS) into […]

Lucid Job Posting Hints at Apple Music, Amazon Music Integration

A recent job posting by Lucid Motors on LinkedIn suggests the electric vehicle (EV) startup is planning to expand its in-car infotainment offerings. The role of Senior Product Manager, Media Partner Management, lists among its key responsibilities working with Apple Music, Amazon Music, and other “media app partners.” Lucid Motors, which currently has one flagship […]

Lucid Air Recall: Seat Heaters Burned a Finger, Charred Seats

Lucid USA has issued a safety recall affecting 1,267 of its 2022-2023 Lucid Air vehicles, according to a Part 573 Safety Recall Report submitted on October 19, 2023. The recall is designated under the numbers 23V-708 and SR-23-05-0. The affected vehicles are operating on software versions between 2.1.0 and 2.1.20. A software change in version […]

Lucid Motors Referral Program Now Available

Lucid Motors has launched a new referral program aimed at rewarding its most loyal customers it says. The program allows current Lucid owners to refer new buyers, with both parties receiving various incentives and rewards based on the model purchased. Owners can log into their portal to share a referral link, which new buyers can […]

Lucid Q3 Deliveries Fall Short of Analyst Expectations, Shares Drop 

Luxury electric vehicle manufacturer Lucid Group reported on Tuesday that it delivered 1,457 of its Air sedans in the third quarter of 2023. The number falls short of the approximately 2,000 vehicles analysts polled by FactSet had expected the company to deliver for the period. Shares of Lucid Group are currently down 4.5% on Tuesday. […]

Lucid Launches Saudi Arabia’s First Car Manufacturing Plant 

Lucid Group has opened Saudi Arabia’s first-ever car manufacturing facility, marking a significant milestone in the country’s industrial landscape. Located in King Abdullah Economic City (KAEC), Jeddah, the Advanced Manufacturing Plant (AMP-2) is Lucid’s first international facility and second overall. It will produce the Lucid Air, the company’s award-winning electric vehicle (EV). The plant has […]

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 […]