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Sep 30, 2021
Lucid Q3 2021 Earnings Report
Announced third quarter 2021 financial results and Lucid Air won 2022 MotorTrend Car of the Year.
Key Takeaways
Lucid Group, Inc. reported financial results for the third quarter ending September 30, 2021. The company successfully began production of vehicles for customer deliveries and continued investing in capacity expansion of its manufacturing facility in Arizona.
Lucid Air won the 2022 MotorTrend Car of the Year
Customer reservations rose to 13,000 in Q3, reflecting an order book of approximately $1.3B, and have since increased beyond 17,000
Customer vehicle production started in Q3 at Lucid’s Advanced Manufacturing Plant (“AMP-1”) in Casa Grande, Arizona
Lucid bolstered its balance sheet to close Q3 with approximately $4.8B in cash
Forward Guidance
Lucid remains confident in its ability to achieve 20,000 units in 2022. This target is not without risk given ongoing challenges facing the automotive industry, with global disruptions to supply chains and logistics. The company is taking steps to mitigate these challenges, however, and look forward to the launch of the Grand Touring, Touring, and Pure versions of Lucid Air through 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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