Saturday, December 3, 2022

Electric vehicle maker Lucid reports third-quarter loss, confirms it’s on track to meet production guidance

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  • Lucid confirmed that it’s still on track to make between 6,000 and 7,000 of its Air luxury sedans in 2022.
  • The company announced plans to raise $1.5 billion, including over $900 million from Saudi Arabia’s public wealth fund, already its largest investor.
  • Lucid reported a net loss of $530 million for the third quarter, on $195.5 million in revenue.

Lucid confirmed that it’s still on track to meet the revised production guidance it first gave in August, when it said that it expects to produce between 6,000 and 7,000 vehicles in 2022, despite ongoing supply-chain disruptions.

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Disclaimer: This story is generated from RSS Feed and has not been created or edited by Waba News. Publisher: CNBC

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