Lucid Dedicated To EV Efficiency Even As It Races To Make Cheaper, High-Volume Models To Trim Losses: CEO Peter Rawlinson
Portfolio Pulse from Anan Ashraf
Lucid Group Inc (NASDAQ:LCID) CEO Peter Rawlinson announced breakthroughs in EV efficiency, aiming for a car with 5 miles per kWh by year-end. Lucid Air leads in range and charging speed in the US, with plans for a cheaper, high-volume model by late 2026. Despite a Q1 net loss of $680.9 million, Lucid's $5.03 billion liquidity is expected to support operations into Q2 2025.
May 09, 2024 | 8:46 am
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Lucid Group Inc announced significant R&D breakthroughs and plans for a more affordable, high-volume model by late 2026, alongside a Q1 net loss but sufficient liquidity to sustain operations into Q2 2025.
The announcement of R&D breakthroughs and future plans for more affordable models could positively impact investor sentiment, reflecting potential for growth and market expansion. The reported liquidity reassures financial stability in the short term, mitigating concerns over the Q1 net loss.
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