Shares of EV start-up Lucid jump on new reservations, 2022 production


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.


Shares of Lucid Group jumped by more than 5% during afterhours trading before retreating to about even after reporting its first quarterly financial results as a public company.

The electric vehicle start-up announced a notable increase in vehicle reservations and confirmed its production target for next year, while reporting a net loss of $524.4 million in the third quarter.

Lucid, which went public via a SPAC deal in July, reported it has lost $1.5 billion through the first nine months of the year.

The company on Monday said it has…

Source cnbc.com

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