Lucid today announced its financial report for the third quarter of 2023 and announced a reduction in its full-year production forecast.
Total revenue: US$138 million
R&D expenditure: US$231 million
Net loss: US$631 millionThe first three quarters of this year:
Total revenue: US$438 million
R&D expenditure: US$694 million
Net loss: US$2.175 billionIn the third quarter of this year, Lucid produced 1,550 vehicles and delivered 1,457 vehicles; in the first three quarters of this year, Lucid produced a cumulative production of 6,037 vehicles and delivered a total of 4,267 vehicles. Officials announced that they will lower their full-year production forecast for 2023 from 10,000+ to 8,000-8,500 vehicles.
In addition, both Lucid Air Pure RWD and Lucid Air Sapphire have started production in September, completing the launch of the entire Lucid Air model range.
In other aspects, Lucid’s final assembly production began to be transferred to the second phase of the Arizona plant; the transaction with Aston Martin was completed and strategic technology-related work arrangements were started; and the first manufacturing plant was opened in Saudi Arabia.
Marc Winterhoff has been appointed as the first chief operating officer, responsible for day-to-day operations and execution of global manufacturing, supply chain, sales and service, marketing and international markets.
It is worth mentioning that Lucid has also begun to warm up its second model and its first SUV-Lucid Gravity. According to reports, this Xichu year will be unveiled at the Los Angeles Auto Show on November 16, and production is expected to begin at the end of 2024.
THIS IS A SPONSOR PROMOTION: >>>>>>>>>>>>>
Geekwills is an online shop that connects consumers with millions of products and brands around the world with the mission to empower them to live their best lives. Geekwills is committed to offering the most affordable quality products to enable consumers and sellers to fulfill their dreams in an inclusive environment.
