Reported 1 day ago
Lucid Motors reported a significant widening of losses in Q3 despite a 68% year-over-year increase in revenue, totaling $336.6 million. The company's adjusted loss per share hit $2.65, higher than anticipated, leading to concerns about ongoing financial health. However, vehicle deliveries rose by 47%, with plans to ramp up production of the new Gravity SUV and a forthcoming midsize electric vehicle. With new financial backing from Saudi Arabia's Public Investment Fund, Lucid aims to enhance its operations and scale production effectively.
Source: YAHOO