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Jun 30, 2023
Lucid Q2 2023 Earnings Report
Lucid's Q2 2023 financial results were announced, with the company on track for its annual production guidance.
Key Takeaways
Lucid Group reported Q2 revenue of $150.9 million driven by customer deliveries of 1,404 vehicles. The company is on track to manufacture more than 10,000 vehicles in 2023. Lucid ended the second quarter with approximately $6.25 billion in total liquidity.
Q2 revenue reached $150.9 million, driven by 1,404 vehicle deliveries.
Total liquidity at the end of Q2 was $6.25 billion.
Lucid was selected by Aston Martin to supply powertrain and battery system technology.
Purchase agreement with the Government of Saudi Arabia was finalized.
Forward Guidance
Lucid is on track toward achieving its 2023 production target of more than 10,000 vehicles and current liquidity of $6.25 billion is expected to take the company through the start of production for the Lucid Gravity, and into 2025.
Positive Outlook
- On track toward achieving 2023 production target of more than 10,000 vehicles
- Lucid Air Sapphire start of production on track for mid-September
- Lucid Air Pure Rear Wheel Drive start of production on track for mid-September
- Lucid Gravity unveiling in November
- Lucid Gravity start of production on track for late 2024
Historical Earnings Impact
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Avg. Return Before/After Earnings
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