Lucid Group (NASDAQ: LCID), a company setting new standards for the luxury electric experience with the Lucid Air, America’s most awarded new luxury vehicle and selected to Car and Driver’s 10-Best list for 2024, has released financial results for the fourth quarter and full year ended Dec. 31, 2023. Highlights of the report include the delivery of 1,734 vehicles in the fourth quarter 2023 and 6,001 total vehicles in 2023, a 37% increase over 2022; the production of 2,391 vehicles in the fourth quarter and a total of 8,428 vehicles in 2023, meeting the company’s 2023 annual production guidance of an estimated 8,000–8,500 vehicles; and Q4 revenue of $157.2 million with revenue of $595.3 million for the full year. In addition, the company reported that it ended the quarter with an estimated $4.78 billion in total liquidity. Looking forward, the company is focused on its next phase, which includes expanding its vehicle lineup; the company noted that its 2024 production guidance will be approximately 9,000 vehicles. “Lucid is investing for the long-term in technology, manufacturing and partnerships to further solidify our place in the market as the premier luxury EV brand in the world,” said Lucid Group CEO and CTO Peter Rawlinson in the press release. “In 2023, we made our first strategic technology arrangement, gained market share, completed the Air lineup and unveiled Gravity. As we start 2024, I’m very excited about the year ahead and beyond. We are entering the next transformational phase of the Lucid vehicle lineup and are laser-focused on growth.”
To view the full press release, visit https://ibn.fm/O30Dr
About Lucid Group Inc.
Lucid Group has a mission is to inspire the adoption of sustainable energy by creating advanced technologies and the most captivating luxury electric vehicles centered around the human experience. The company’s first car, the Air, is a state-of-the-art luxury sedan with a California-inspired design. The Lucid Air is assembled at the company’s factory in Casa Grande, Arizona, and King Abdullah Economic City (“KAEC”), Saudi Arabia; deliveries of Lucid Air are currently underway to customers in the United States, Canada, Europe and the Middle East. For more information about the company, visit www.LucidMotors.com.
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