Lucid Full Year 2022
Lucid revealed its financial results for the fourth quarter and full year of 2022, surpassing their output guidance with 3,493 vehicles in Q4 and a total of 7,180 during the whole year.
“Last year was a challenging year for everyone, yet despite the extraordinary supply chain and logistics challenges, the team persevered with an unrelenting focus on delivering what we believe is the best luxury sedan on the market,” said Peter Rawlinson, Lucid’s CEO and CTO.
Concluding an impressive year, Lucid has unveiled financial figures for 2022. During Q4, 3,493 cars were produced at Arizona's manufacturing facility and 1,932 delivered. For the full year, production exceeded guidance of 6-7K with 7,180 units produced and 4,369 delivered. Looking ahead to 2023, guidance for annual production is 10-14K vehicles.
- 3,493 vehicles produced in Q4, up 53 percent sequentially
- 7,180 vehicles produced in 2022, exceeding annual production guidance of 6,000 to 7,000 vehicles
- Q4 revenue of over $257M and annual revenue of over $608M
- Ended the quarter with approximately $4.9B total liquidity
- 2023 production guidance of 10,000 to 14,000 vehicles
Lucid reported quarterly revenue of $257.7 million and an annual figure of $608.2 million, ending the period with total liquidity of $4.9 billion, which should sufficiently support the Company until at least early 2024. This February 21, 2023 data also showed reservations beyond 28,000, representing a potential sales value of over $2.7 billion. It is worth mentioning that this reservation number excludes the up to 100,000 vehicles in agreement with Saudi Arabia's government.
BlackRock Is Buying Up Lucid ($LCID) Stocks Quietly
BlackRock has placed a large wager on Lucid Motors ($LCID). The investment giant is taking a sizeable stake in the electric vehicle (EV) maker. It's clear that BlackRock believes Lucid Motors shares can deliver solid returns, and they're positioning themselves to take advantage of the potential upside.
BlackRock holds 31.45 million shares of Lucid (LCID) as of Q4, with an additional 3.27 million shares acquired during the quarter. Lucid makes up a mere 0.01% of BlackRock's portfolio.
Lucid Rise 98% On Saudi Investment Rumour To Buy Out The Company ($LCID)
Lucid Motors, an electric vehicle (EV) manufacturer, has seen a surge in stock prices by 98% to $17.81 which later drop back 43% to $12.87, this is based on reports that Saudi Arabia's Public Investment Fund (PIF) is planning to purchase the remaining stake in the company. This news suggests that Lucid will now be owned entirely by PIF.
Can Lucid EV Price Cut Save The Company in 2023!
Lucid is providing a generous discount of $7,500 on leased Air sedans in response to Tesla's recent price reductions.
Tesla caused a stir in the auto industry last week when their prices were slashed by as much as 21%. Tesla was able to afford this dramatic change, which others like Lucid, Rivian, Poletsar, NIO may not have the privilege of doing.
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