Lucid Group, Inc. (LCID) introduces its Gravity three-row SUV, priced at $79,900. Supply-chain issues have been resolved, leading to increased deliveries and a 47% year-over-year rise in the third quarter. The company reported a net loss of $1 billion for the same period.

Lucid Group, Inc. (LCID) plans to invest in autonomous vehicle technology and expand branding to address limited brand awareness. The tech and auto firm delivered 10,241 vehicles in 2024, mainly Air sedans. A mid-size crossover priced at $50,000 is in the works.

Lucid Group, Inc. (LCID) is a technology and automobile company focused on developing next-generation electric vehicle technology. The firm’s interim CEO noted higher demand for the Gravity SUV compared to the Air sedan, with most setups costing over $100,000.

LCID’s majority shareholder, Saudi Arabia’s Public Investment Fund, owns about 55% of the company. Lucid Group, Inc. (NASDAQ:LCID) completed the third quarter with a net loss of $1 billion and overall liquidity of $5.5 billion, securing funding until the first half of 2027. Deliveries have been rising for seven straight quarters.

Read more at Yahoo Finance: Lucid Group, Inc. (LCID)’s SUV Arrives With High Hopes And Significant Risks