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Lucid (NASDAQ: LCID), a fledgling producer of luxury electric vehicles (EVs), went public by merging with a special purpose acquisition company on July 26, 2021. The combined company's stock ...
Lucid is still trying to build its business, an effort that requires a material capital investment. The spending on building a new business often leads to red ink on the bottom line.
In fact, with Lucid hitting three consecutive quarterly records for deliveries, the company has now let consumers take the wheel of over 7,100 Lucid EVs in 2024, already easily topping the company ...
Lucid's third-quarter revenue rose 45% year over year to $200 million, which looks good on the surface. But when you dig a little bit deeper, you'll notice that there isn't a clear growth trend.
Lucid began building its first all-electric Lucid Air sedan in Arizona in September 2021, and deliveries began in late October. [35] Lucid produced 7,180 vehicles in 2022, [36] lower than expected, with the company citing supply chain issues. [37] [38] Lucid produced 8,428 vehicles in 2023, meeting the higher end of company guidance. [39]
When Lucid first went public in 2021, Lucid management projected it would produce and deliver 49,000 vehicles by 2023 and 90,000 by this year. Last year, the company manufactured 8,428 vehicles ...
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