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The company expects to begin production of its second model, the Lucid Gravity SUV, in late 2024. [7] Lucid also supplies and develops powertrain technology to other automakers, including Aston Martin. [8] Since April 2019, Lucid has been majority-owned by the Public Investment Fund, which is the sovereign wealth fund of Saudi Arabia. [9]
Lucid posted an adjusted loss per share of $0.28, narrower than the loss of $0.31 expected, with adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) coming in at a ...
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Consumers' interest in EVs is rising at a slower rate than previously projected, which prompted several leading automakers to adjust their EV goals and production plans in 2024.
His goal is to make Lucid a "major volume player," including the planned late 2024 launch of an electric SUV and a planned 2026 launch of a mid-sized sedan. [25] His name is on dozens of patents for battery technology or other innovations, and Rawlinson oversaw Lucid’s development of the battery used by all the teams in the Formula E electric ...
The Lucid Air is a battery electric 4-door luxury sedan made by Lucid Motors. The car was announced in December 2016 and sold starting in 2021. The Dream Edition's EPA range is estimated at 520 mi (840 km), the longest on the market as of 2024. [1] [4] The production model was unveiled in September 2020, and production began in late 2021. [5] [6]
The company said it expects capital expenditure of $1.5 billion in 2024 as it prepares to start manufacturing its Gravity SUV later this year, up from $910.6 million last year.
[12] [13] [14] Since April 2024, the Arcimoto website has remained deactivated and inaccessible. Arcimoto's 2023 Q3 report showed it with $9.5 million of bills past due and $232k on hand. As of April 2024, the company has not produced its 2023 Q4 report, has defaulted in several judgements on unpaid bills, [15] and was delisted from NASDAQ. [16]