Reported 17 days ago
Lucid Motors has reported better-than-expected third quarter results, with revenue reaching $200 million, surpassing forecasts, and a narrower adjusted loss per share of $0.28. The company produced 1,805 vehicles and delivered 2,781, positioning itself to meet its annual target of 9,000 vehicles. As it prepares for the highly anticipated Gravity electric SUV, set to begin production late this year, Lucid's CEO expressed optimism about future sales, citing the SUV's potential market. The company ended the quarter with $5.16 billion in cash, bolstered by a recent $1.75 billion capital raise.
Source: YAHOO