Menu

After Sales Stall at the Start of 2026, Lucid Drops Production Target
📰
0

After Sales Stall at the Start of 2026, Lucid Drops Production Target

Gizmodo·Zac Estrada·26 days ago
#EqWZdnDK
#evs#lucid#bookmark#close#year#models
Reading 0:00
15s threshold

While its luxury electric vehicles have been mostly well received by critics, Lucid Motors could be in for a rocky 2026. Plans for new models are out and a new CEO is in, but the automaker’s bank ledger is creaking under the weight of the need for more sales from existing models to the tune of about a $1 billion.  The California-based electric vehicle maker said Tuesday in its first-quarter earnings report that losses per share were $3.46 against a $2.64 estimate—representing a quarterly net loss of $989,485,000. Revenue was up 20% year-over-year to $282.5 million versus the projected $440.4 million. However, Lucid also received $550 million from Saudi Arabia’s Public Investment Fund as part of a $1.05 billion capital raise.  Lucid’s year didn’t start off well when nearly all of its new Gravity SUVs were recalled because of seat belt anchors that might fail in a collision, something discovered at the end of January during routine testing.…

Continue reading — create a free account

Join HashtagPLUS to read full articles, follow hashtags, vote, and join the conversation.

Read More