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 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 […]
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, […]
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 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 […]
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 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 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 […]
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 […]
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 Motors announced on Thursday that Apple CarPlay is now standard on every Lucid Air sedan, along with Android Auto. Apple CarPlay® is standard on every #LucidAir. pic.twitter.com/Daw0zDlne4 — Lucid Motors (@LucidMotors) March 23, 2023 Apple CarPlay is an in-car infotainment system that allows iPhone users to access and use various apps and features from […]
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 […]
Lucid Group announced plans on Thursday to offer a $7,500 credit for purchasing some vehicle variants of its flagship Air electric sedan, according to a report from Reuters. The credit is effective beginning on Thursday, and it applies to all Lucid Air Tour and Grand Touring purchases between now and March 31. Despite the discount, […]
Lucid Motors saw its stock price jump by as much as 98% on Friday, closing at $12.87 per share (up 43%), as rumors of Saudi Arabia’s Public Investment Fund (PIF) considering a full takeover of the luxury electric automaker made the rounds — reports the Silicon Valley Business Journal. The news represents a breath of […]
Electric vehicles (EVs) are continually becoming more popular, and despite concerns over a recession, one automaker actually managed to outproduce its own revised forecast. Luxury EV startup Lucid Motors produced 7,180 vehicles in 2022, with 3,493 in the fourth quarter of the year alone, according to a press release shared on Thursday. The full-year figure […]
