2Q: Lucid Group, backed by Saudi investors, exceeded analysts' estimates with 2,394 EV deliveries, up from 1,967 in Q1, driven by price cuts for luxury sedans.
Lucid Group, an electric vehicle (EV) maker backed by Saudi investors, reported 2Q deliveries exceeding analysts' estimates. The company delivered 2,394 vehicles in Q2, up from 1,967 in the previous quarter, thanks to price cuts driving demand for its luxury electric sedans. Lucid's stock rose more than 5% as a result. The company plans to start manufacturing its Gravity SUV later this year, with a price of around $80,000.
July 08, 2024
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