Lucid reports Q1 production and delivery figures

NEWARK, Calif. - Lucid Group, Inc. (NASDAQ: LCID), known for its advanced electric vehicles, disclosed its production and delivery totals for the first quarter ended March 31, 2025. The company produced 2,212 vehicles and delivered 3,109 units within the same timeframe. Additionally, over 600 vehicles are currently en route to Saudi Arabia for final assembly. According to InvestingPro data, Lucid maintains a strong liquidity position with a current ratio of 4.18, though analysts note the company is quickly burning through cash.

The electric vehicle manufacturer also announced a forthcoming conference call to discuss its financial results for the first quarter of 2025. The call is scheduled for Tuesday, May 6, 2025, and will be accessible via a live webcast on the investor relations section of Lucid’s website. InvestingPro analysis shows that two analysts have recently revised their earnings upwards for the upcoming period, though the company is not expected to be profitable this year.

In an effort to increase shareholder engagement, Lucid is collaborating with Say Technologies to provide a platform for both retail and institutional investors to submit questions ahead of the earnings call. This feature will be available starting April 22, 2025, and the platform will remain open for questions until May 5, 2025.

Lucid emphasizes that the production and delivery numbers are only one aspect of the company’s operating performance and should not be viewed as the sole indicators of its quarterly financial results, which are influenced by various factors.

The Silicon Valley-based company continues to focus on electric vehicle innovation and is recognized for its award-winning Lucid Air and the new Lucid Gravity models, which boast superior performance and energy efficiency. Lucid’s Arizona factory is responsible for the assembly of both vehicle models.

The information in this article is based on a press release statement from Lucid Group.

In other recent news, Lucid Group is facing challenges with the delivery of its Gravity SUV due to unresolved safety testing issues, particularly with the third-row seating. Interim CEO Marc Winterhoff indicated that while U.S. deliveries may begin by the end of April, the volume is expected to be minimal, with higher production not anticipated until June or July. Meanwhile, Cantor Fitzgerald has maintained its Neutral rating and $3.00 price target on Lucid, citing concerns over the company’s negative gross margins, the need for additional capital, and management changes. Lucid produced 9,029 vehicles and delivered 10,241 in fiscal year 2024, setting a production target of 20,000 units for 2025. Benchmark analysts, however, have expressed optimism, maintaining a Buy rating and a $5.00 target, citing confidence in Lucid’s growth prospects under new leadership. Benchmark’s analysis highlights Lucid’s focus on expanding scale and enhancing cost efficiencies. The company is also reportedly in discussions with OEMs for potential technology licensing agreements. These developments underscore the mixed outlook for Lucid as it navigates production challenges and strategic shifts.

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