Lucid Runs Into Middle-East Misadventure As Saudi Sales Stumble On Scaling Issues
Portfolio Pulse from Anan Ashraf
Lucid Group Inc (NASDAQ:LCID) is facing scaling issues in Saudi Arabia, which is affecting its delivery numbers. The company had planned to deliver more vehicles in Saudi Arabia in Q3, but scaling up took longer than expected. Lucid has a purchase agreement to sell up to 100,000 vehicles to the Saudi government over the next 10 years. The company is now aiming to scale deliveries in Q4. It has already manufactured 700 EVs and shipped them to Saudi Arabia for final assembly.

November 08, 2023 | 8:48 am
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Lucid Group's scaling issues in Saudi Arabia are affecting its delivery numbers, which could negatively impact its stock price.
Lucid Group's delivery numbers are being affected by scaling issues in Saudi Arabia. This could lead to lower revenues and negatively impact the company's stock price.
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