NEWARK, Calif., April 9, 2024 /PRNewswire/ -- Lucid Group, Inc. (NASDAQ: LCID), setting new standards for luxury electric experience with the Lucid Air, America's most awarded new luxury vehicle1, today announced production and delivery totals for the quarter ended March 31, 2024. Lucid produced 1,728 vehicles and delivered 1,967 vehicles during this period.*   Lucid will host a conference call to discuss its first quarter 2024 financial results on Monday, May 6, 2024, at 2:30 pm PT / 5:30 pm ET. Prior to t ...

Lucid stock (NASDAQ:LCID) burst into the scene with its sleek, high performance luxury electric vehicles (EVs). The company’s initial promise and bold claims after its IPO in 2021 garnered significant investor attention. However, 2024 could be the year that the music stops for Lucid stock. Plagued by questionable leadership decisions, dwindling cash reserves, and an intensifying competitive landscape, a reality check is overdue. Investors who were initially drawn to the company may be wise to reevaluate the ...

The electric vehicle maker has a huge competitive advantage, but it's facing bigger challenges.Lucid Group (LCID 3.26%) is among the several electric vehicle (EV) start-ups that have been compelled to cut prices of their cars and accept dwindling margins because of a global slowdown in demand growth for EVs. The timing couldn't be any worse for Lucid, which was already struggling with production and sales. Understandably, that has been reflected in its share price -- the electric car stock lost 13.6% in Mar ...

Down more than 35% on a year-to-date basis, Lucid Group (NASDAQ:LCID) stock has been an under-performer, to say the least. Now, the overall EV sector has been hit hard by a number of headwinds. Some of these are macro and sector-specific. However, like many of the harder-hit EV names, Lucid has production and deliveries problems. And while the company’s management team has done a good job of securing outside investment (we’ll get to that), there are still substantial losses and additional cash burn that wil ...

With Fisker collapsing, many investors are wondering which company could fall next -- is it time to give up on Lucid?It's been a rough go for electric vehicle (EV) start-ups lately, Lucid Motors (LCID -1.51%) included. The company has cut production forecasts numerous times, slashed prices on its only vehicle, reported a widening net loss during the fourth quarter, and barely delivered 6,000 vehicles in 2023.Combine those factors with a macroeconomic environment of high interest rates and slowing EV demand, ...

In the latest trading session, Lucid Group (LCID) closed at $2.62, marking a -1.32% move from the previous day. The stock's change was less than the S&P 500's daily gain of 1.11%. Meanwhile, the Dow experienced a rise of 0.8%, and the technology-dominated Nasdaq saw an increase of 1.24%.Shares of the an electric vehicle automaker witnessed a loss of 15.06% over the previous month, trailing the performance of the Auto-Tires-Trucks sector with its loss of 7.62% and the S&P 500's gain of 0.48%.The investment c ...

Tesla's weak delivery report sent the sector sliding.Electric vehicle (EV) stocks fell today after Tesla (TSLA -4.90%) and Rivian (RIVN -5.23%) both reported disappointing first-quarter delivery numbers.It was the latest sign that demand for EVs continues to fade and that the sector's stocks look broadly overvalued. Tesla is seen as a bellwether in the EV market as well, and other EV stocks tend to respond to Tesla-specific news.Tesla and Rivian closed down around 5%; Lucid (LCID -3.50%) dropped 3.5%. EV st ...

In the latest trading session, Lucid Group (LCID) closed at $2.86, marking a +0.35% move from the previous day. The stock's change was more than the S&P 500's daily loss of 0.2%. Meanwhile, the Dow experienced a drop of 0.6%, and the technology-dominated Nasdaq saw an increase of 0.11%.The an electric vehicle automaker's stock has dropped by 14.41% in the past month, falling short of the Auto-Tires-Trucks sector's loss of 1.71% and the S&P 500's gain of 3.32%.Analysts and investors alike will be keeping a c ...

The electric vehicle (EV) industry faces numerous challenges. Those challenges include bringing down the costs of batteries, improving charging infrastructure quality and availability, convincing consumers to make big purchase decisions amid high interest rates, and fierce competition.It's the outlook for the competitive environment that may have shareholders of Rivian (RIVN 0.84%) and Lucid (LCID 1.23%) worried over Hyundai's newly announced plan to make a $51 billion investment in EVs and software-defined ...

Lucid Group, Inc. (LCID) is raising $1 billion in capital from Ayar Third Investment Company, an affiliate of Saudi Arabia’s Public Investment Fund (“PIF”).The recent investment by a sovereign wealth fund offers Lucid a competitive advantage over other struggling electric vehicle (EV) startups.In an effort to diversify the Kingdom's economy, the Saudi government has already made massive investments in Lucid, per Reuters. It holds 60% stakes in LCID.Per the U.S. securities regulator filing, Ayar Third Invest ...