On May 24, 2024, the new Lucid electric car was parked in front of the Lucid Studio showroom in San Francisco.
Justin Sullivan | Getty Images
sobriety group Monday reported record quarterly vehicle deliveries for the fourth quarter and confirmed production will exceed 9,000 units in 2024 – Meet Previously announced goals.
The electric car maker reported 2024 production of 9,029 vehicles and deliveries of 10,241 vehicles. The company said that in the fourth quarter, production was 3,386 vehicles and deliveries were 3,099 vehicles.
Lucid’s deliveries increased by 71% last year compared to 2023, and production increased by 7%.
However, this growth has not led to better investments for investors. Lucid shares are down about 28% last year as EV adoption Growth has been slower than expected, with the company burning through billions of dollars in cash as it discounts some models and prepares to launch new SUVs.
The company’s shares were up about 5% in premarket trading Monday morning.
Lucid’s only product is salon water, The company started deliveries in late 2021. Since then, the market has become more competitive and the company has not expanded as quickly as previously expected.
wide awake End of third quarter Total liquidity is $5.16 billion. This excludes $1.75 billion in equity offerings and financing Surprised many investors October.
Lucid, which is largely backed by Saudi Arabia’s Public Investment Fund, is scheduled to report fourth-quarter financial results in February.
