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Mar 31, 2024
Lucid Q1 2024 Earnings Report
Lucid reported Q1 revenue of $172.7 million on deliveries of 1,967 vehicles and expects to manufacture approximately 9,000 vehicles in 2024.
Key Takeaways
Lucid Group, Inc. announced financial results for the first quarter ended March 31, 2024, reporting a revenue of $172.7 million. The company delivered 1,967 vehicles and raised $1.0 billion via private placement to an affiliate of the Public Investment Fund (PIF). They ended the quarter with $5.03 billion in total liquidity and are on track for annual production of approximately 9,000 vehicles.
Produced 1,728 vehicles in Q1 and are on track for approximately 9,000 vehicles annually.
Delivered 1,967 vehicles in Q1, up 39.9% compared to Q1 2023.
Q1 revenue was $172.7 million.
Successfully raised $1.0 billion via private placement to an affiliate of the Public Investment Fund (PIF).
Forward Guidance
Lucid expects to manufacture approximately 9,000 vehicles in 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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