Lucid Q1 2022 Earnings Report
Key Takeaways
Lucid reported Q1 revenue of $57.7 million on deliveries of 360 vehicles. The Company reported strong customer demand for Lucid Air with reservations now exceeding 30,000, reflecting potential sales of $2.9 billion. Lucid reiterated its 2022 production volume outlook of 12,000 to 14,000 vehicles and ended the quarter with close to $5.4 billion cash on hand.
Q1 revenue of $57.7M driven by customer deliveries of 360 vehicles in the quarter
Strong demand with more than 30,000 customer reservations as of today, reflecting potential sales of $2.9B
Production volume outlook for 2022 remains on track at 12,000 to 14,000 vehicles
Announces new pricing effective June 1 while honoring current pricing for all existing reservation holders
Lucid
Lucid
Forward Guidance
The company is focused on ramping production and excited about the product roadmap in 2022 and beyond.