, /PRNewswire/ --Â Lucid Group, Inc. (NASDAQ: LCID), maker of the world's most advanced electric vehicles, today announced production and delivery totals for the quarter ended September 30, 2025. During this period, Lucid produced 3,891 vehicles, with more than 1,000 additional vehicles built for Saudi Arabia for final assembly. Lucid delivered 4,078 vehicles during the same period. During the nine months ended September 30, 2025, Lucid produced 9,966 vehicles, excluding additional vehicles in transit to Sa ...

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Core Insights - Kia America achieved record monthly sales of 83,007 units in August, representing a 10.4% increase year-over-year and marking the second time in history that sales surpassed 80,000 units in a single month [1][7] - Year-to-date sales increased by 8.6% compared to the same period last year, with retail sales growing by 10.3% [1][7] Sales Performance - The Kia EV9 recorded sales of 2,679 units in August, a 54% increase from the previous month, while the EV6 and Niro EV saw month-over-month growth of 39% and 57%, respectively [2] - Key models such as Carnival (+29%), Telluride (+19%), Sportage (+19%), K5 (+13%), and EV9 (+12%) experienced significant sales increases compared to the same period last year [3] - The EV9 and Sportage achieved their best-ever monthly sales, contributing to the highest monthly sales for Kia's SUVs [3][7] Company Statements - Eric Watson, vice-president of sales operations at Kia America, highlighted the sales milestone and indicated that the company is on track to achieve its third consecutive annual sales record and highest market share [4] - The diverse product offerings of Kia, including sedans, SUVs, and electrified models, are generating double-digit growth, reflecting the strength of the Kia brand [4] Additional Announcements - The 2025 all-electric Kia EV9 received top honors in the 2025 J.D. Power U.S. Tech Experience Index Study for "One-Pedal Driving" in the Electric Vehicle advanced technology category [8] - Kia hosted automotive journalists for testing the updated 2026 Kia Sportage, focusing on enhancements in design, innovation, and technology [8] - The 2025 Carnival MPV and 2025 Telluride SUV received Winter Vehicle Awards from the New England Motor Press Association, with the Telluride winning multiple awards over the years [8]

Financial Performance - Lucid achieved record quarterly revenue of $259.4 million in Q2 2025[16] - Q2 2025 GAAP diluted net loss per share was $(0.28), while non-GAAP diluted net loss per share was $(0.24)[16] - The company ended Q2 2025 with approximately $4.86 billion in total liquidity[16] - Free cash flow for the quarter was $(1,012.9) million[61] - Lucid recorded a net loss of $(539.4) million for the quarter[61] Production and Deliveries - Production reached 3,863 vehicles in Q2 2025, an increase of 83% year-over-year, including the start of Lucid Gravity production[27] - Deliveries totaled 3,309 vehicles in Q2 2025, representing a 38% year-over-year growth and the sixth consecutive quarter of record deliveries[16, 27] Strategic Initiatives - Lucid announced a global robotaxi partnership with Uber and Nuro, with Uber planning to deploy a minimum of 20,000 Lucid Gravity vehicles[16, 55] - Uber will invest $300 million in Lucid as part of the robotaxi partnership[55] - The company revealed Timothée Chalamet as Lucid's first global ambassador[16] - Lucid Air Grand Touring won a GUINNESS WORLD RECORDS title with 1,205 kilometers on a single charge[16] Outlook - Lucid updated its 2025 production volume guidance to a range of 18,000 to 20,000 vehicles[57] - The company anticipates sufficient liquidity into the second half of 2026[57]

Core Insights - Lucid Motors has achieved a significant milestone with its Lucid Air Grand Touring, showcasing its technological edge in electric vehicle efficiency and performance [1][2] - The Lucid Air Grand Touring boasts a WLTP range of 960 kilometers, making it the leader in range among electric vehicles, with a consumption rate of 13.5 kWh/100km [2][4] - The vehicle is equipped with an advanced electric powertrain, delivering 831 PS and a top speed of 270 kilometers per hour, along with ultra-fast charging capabilities [2][4] Company Overview - Lucid Group, based in Silicon Valley, focuses on creating advanced electric vehicles, including the award-winning Lucid Air and the new Lucid Gravity, emphasizing performance, design, and energy efficiency [5] - The company assembles its vehicles in a vertically integrated factory located in Arizona, which enhances its production capabilities and technological advancements [5] Record Achievement - Lucid Motors has collaborated with entrepreneur Umit Sabanci to set a new GUINNESS WORLD RECORDS title for the most countries visited on a single charge in a production battery electric vehicle, further establishing its reputation in electric endurance achievements [3][4] - This record follows Sabanci's previous achievement in 2024, where he visited nine countries in a Lucid Air Grand Touring, highlighting the vehicle's capabilities [3][4]

Core Insights - Mullen Automotive reported a significant increase in revenue for Q2 2025, achieving $5 million compared to $33,000 in Q2 2024, marking a growth of over 143 times [2][5] - The company's net loss decreased substantially from $132.4 million in Q2 2024 to approximately $47.1 million in Q2 2025 [5][23] - Mullen's total revenue for the six months ending March 31, 2025, was $7.9 million, with a notable reduction in cash spending from $120.9 million to $52.4 million during the same period [5][11] Financial Performance - The net loss attributable to common shareholders for the six months ended March 31, 2025, was $162.0 million, or $3,338.65 per share, compared to a net loss of $193.9 million, or $21,493,370.73 per share, for the same period in 2024 [5][12] - Non-cash expenses accounted for $118.5 million, or 73% of the total loss for the six months ended March 31, 2025, compared to $135.1 million (70%) in the previous year [6][12] - The company reported a gross loss of $5.7 million for the six months ended March 31, 2025, with operating expenses totaling $77.9 million [22] Operational Highlights - Mullen has secured orders for its commercial electric vehicles, including a $1.4 million order for 20 Class 3 vehicles from Cashflow on Wheels and additional orders from local governments and universities [3][8] - The company has entered a strategic partnership with EO Charging to provide electrification solutions for its commercial fleet customers [8] - Mullen's production of advanced lithium-ion batteries is set to begin in early 2026, with plans to integrate these batteries into its existing vehicle programs [8] Liquidity and Cash Flow - As of March 31, 2025, Mullen had total cash (including restricted cash) of $2.3 million, down from $10.7 million on September 30, 2024 [10] - The company reported a negative working capital of $156.1 million, which improves to $56.7 million when adding back derivative liabilities [10] - Cash spent on operating and investing activities decreased by 56.6%, from $120.9 million in 2024 to $52.4 million in 2025 [11] Recent Developments - Bollinger Motors, a majority-owned subsidiary of Mullen, was placed into court-appointed receivership on May 7, 2025, following a legal complaint regarding a breach of contract [13][14] - Mullen is exploring options to challenge this receivership and has engaged litigation counsel [13][15] - The company continues to expand its commercial dealer network and has received IRS approval for federal EV tax credits on its commercial vehicles [27]

Financial Data and Key Metrics Changes - In Q1 2025, the company produced 2,212 vehicles, a 28% year-over-year increase, and delivered 3,109 vehicles, up more than 58% year-over-year, marking the fifth consecutive quarter of record deliveries [6][32] - Total revenue for the quarter was $235 million, representing a 36% growth year-over-year [33] - Gross margin improved significantly, with Q1 gross margin at negative 97.2%, up from negative 134.3% in the prior year quarter [33] - Adjusted EBITDA in Q1 was negative $563 million, an improvement of 2% versus Q4 [36] - The company ended Q1 with approximately $4.56 billion in cash and investments, and total liquidity of $5.76 billion [36][40] Business Line Data and Key Metrics Changes - The Lucid Air remained the number one best-selling EV and the third best-selling sedan overall in its segment in the U.S. [8] - The Lucid Gravity is generating strong interest, with over three-quarters of orders coming from new customers [12] Market Data and Key Metrics Changes - The company experienced significant year-over-year improvements in gross margin, driven by higher regulatory credit revenue and cost management [7][33] - The Lucid Gravity campaign reached over 11 million people on social media, significantly increasing brand awareness [10] Company Strategy and Development Direction - The company is focused on building a vertically integrated enterprise designed to lead in the next era of mobility, emphasizing technology-driven and capital-disciplined growth [42] - The company plans to ramp up marketing campaigns throughout 2025 and has signed a global ambassador to enhance brand visibility [12] - The company is exploring strategic adjustments to align with changing market conditions, including vehicle price changes and tariff risk mitigation [25][26] Management's Comments on Operating Environment and Future Outlook - Management acknowledged increased uncertainty in the market due to tariffs and supply chain challenges but expressed confidence in the company's ability to navigate these issues [21][39] - The company forecasts production of approximately 20,000 vehicles in 2025, despite market uncertainties [40] - Management emphasized the importance of maintaining balance sheet strength while minimizing shareholder dilution [32] Other Important Information - The company completed a convertible notes offering with strong support from the public investment fund, extending liquidity into the second half of 2026 [32] - The company is in advanced discussions with partners regarding technology access and licensing, indicating a growing interest in its EV technology [14] Q&A Session Summary Question: Can the midsize rollout and ramp be accelerated due to the acquisition of the Nikola factory? - Management clarified that while the acquisition was financially attractive, accelerating the midsize rollout is not feasible due to the complexities involved [45][48] Question: Are there plans for Lucid to sell or lease its technology to other car manufacturers? - Management confirmed that discussions are ongoing with various OEMs regarding technology licensing, emphasizing the strategic intent behind the company's name change to Lucid Group [49] Question: What is the impact on Lucid's supply chain due to Chinese curbs on rare earth material exports? - Management reiterated the importance of vertical integration, which allows the company to have more control over components and mitigate supply chain risks [50] Question: Is it fair to say that Lucid lacks urgency regarding production ramp and deliveries? - Management emphasized the importance of quality over speed, stating that they are focused on delivering high-quality vehicles rather than rushing production [52] Question: Can you provide an update on test drives and order perspectives for the Gravity? - Management reported strong order inflow and plans to roll out test drives as vehicles meet quality standards [56] Question: What is the plan to address the convertible bonds maturing in 2026? - Management indicated that they will remain opportunistic regarding financing and timing for addressing convertible bonds [71]

Core Insights - Lucid Group has strengthened its executive leadership team to drive future growth and enhance its position in the electric vehicle market [1][2] Leadership Appointments - Akerho "AK" Oghoghomeh has been appointed as Senior Vice President of Marketing, bringing experience from building brands like Red Bull to enhance Lucid's marketing initiatives and global growth [2] - Jason Ryska joins as Vice President of Global Manufacturing Engineering, with over 30 years of experience in automotive manufacturing from companies like Fiat Chrysler and Ford [3] - Dr. Kay Stepper, with over 30 years in the automotive sector, has been appointed Vice President of Advanced Driver-Assistance Systems and Autonomous Driving, previously serving at Qualcomm and Bosch [4] - Adrian Price, also with over 30 years of experience, joins as Senior Vice President of Operations from Ford, focusing on production ramp-up and manufacturing efficiencies [5] - Erwin Raphael, Vice President of Revenue, has extensive automotive experience and previously worked at Amazon and Genesis Motor North America [6] - Gemma Parker, Vice President of Program Management, has a background in vehicle line direction at Rivian and experience at McLaren and DRÄXLMAIER Group [7] Company Overview - Lucid Group is a technology company based in Silicon Valley, focused on creating advanced electric vehicles, including the award-winning Lucid Air and the new Lucid Gravity, known for their performance, design, and energy efficiency [8]

Core Insights - Lucid Group has announced a strategic partnership with King Abdullah University of Science and Technology (KAUST) to enhance electric vehicle (EV) technology and support Saudi Arabia's vision for sustainable mobility [1][3]. Group 1: Partnership Details - The partnership aims to leverage KAUST's research capabilities and Lucid's expertise in EVs to drive innovation in areas such as advanced driver-assistance systems (ADAS) and autonomous driving (AD) [3][4]. - Lucid will gain access to KAUST's supercomputing resources, which will significantly enhance its ability to develop advanced materials, optimize vehicle efficiency, and accelerate AI training for various applications [4][5]. Group 2: Research Focus - Collaborative efforts will include the design and prototyping of next-generation components, integrating various engineering disciplines to improve vehicle performance and durability [4]. - Research will focus on high-performance materials, including metallic and polymer-based composites, heat-reflective coatings, and innovative laminates, aimed at optimizing vehicle efficiency [4]. Group 3: Company Background - Lucid Group is recognized for producing advanced electric vehicles, including the award-winning Lucid Air and the new Lucid Gravity, which are noted for their performance and energy efficiency [6]. - The company operates a vertically integrated factory in Arizona, emphasizing its commitment to innovation in the EV sector [6].