Lucid reports Q2 2023 production and delivery data, inventory declines

Lucid, the American electric vehicle startup company, recently announced production and delivery figures for the second quarter of 2023. According to the company, Lucid produced a total of 2,173 vehicles this quarter, a year-on-year increase of 204%, and delivered 1,404 vehicles, a year-on-year increase of 107%. However, production and sales fell slightly in the second quarter compared with the first quarter. Production and sales in the first quarter were 2,314 and 1,406 vehicles respectively.

According to the editor's understanding, Lucid plans to hold a conference call on Monday, August 7, 2023 at 2:30 pm Pacific Time to discuss the company's second quarter of 2023 financial performance.

In addition, Lucid began shipping materials to the Kingdom of Saudi Arabia. According to a report by the Financial Times in February this year, Lucid has signed an agreement with Saudi Arabia to build a factory in King Abdullah Economic City in Saudi Arabia and plans to produce 150,000 electric vehicles per year by 2025.

It is worth mentioning that not long ago, Aston Martin announced that it would acquire Lucid’s electric power system technology for US$132 million in cash, and Lucid Group will also provide The British luxury carmaker supplies the batteries. In exchange, Lucid will receive a 3.7% stake in Aston Martin.

Previously, Lucid set its production target for 2023 at 10,000-14,000 vehicles per quarter, with an average of 2,500-3,500 vehicles per quarter. However, as of May 8 this year, the company has updated its production target and now adjusts this year's target to more than 10,000 vehicles. Currently, Lucid is working continuously towards achieving this goal.

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