Earnings

Lucid (LCID) earnings Q3 2022

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Electric vehicle start-up Lucid on Sept. 28, 2021 said production of its first cars for customers has started at its factory in in Casa Grande, Arizona.

Lucid

Electric vehicle maker Lucid Group on Tuesday reported that it lost $530 million in the third quarter but confirmed that it’s still on track to make between 6,000 and 7,000 of its Air luxury sedans in 2022.

The company also revealed plans to raise $1.5 billion from investors, including a significant new investment from Saudi Arabia’s public wealth fund, which currently owns about 60% of Lucid.

Shares were down over 13% in after-market trading.

Here’s what the company reported:

  • Revenue: $195.5 million, versus $232,000 in the year-ago…



Source cnbc.com

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