From CNBC: 2025-01-06 09:03:01

Lucid Group achieved record quarterly vehicle deliveries in Q4 2024, with 9,029 units produced and 10,241 cars delivered. Despite a 71% increase in deliveries from 2023, the stock declined by 28% last year due to slower EV adoption and high cash burn. Preparing for an SUV launch, Lucid’s stock rose 5% in premarket trading.

The electric vehicle manufacturer, backed by Saudi Arabia’s Public Investment Fund, reported $5.16 billion in liquidity at the end of Q3 2024. Lucid’s sole product, the Air sedan, faces increased competition as the market grows. A $1.75 billion stock offering in October surprised investors, with Q4 financial results set for February.



Read more at CNBC:: Lucid reports record quarterly deliveries, meets production target