Lucid Owners (2024)

FAQs

Why is Lucid losing so much money? ›

Lucid Group (LCID -5.83%) 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.

Largest shareholders include Public Investment Fund, Vanguard Group Inc, BlackRock Inc., VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, NAESX - Vanguard Small-Cap Index Fund Investor Shares, Morgan Stanley, State Street Corp, Geode Capital Management, Llc, VISGX - Vanguard Small-Cap Growth Index Fund ...

Lucid reported Q2 revenue of $200.6 million on deliveries of 2,394 vehicles and expects to manufacture approximately 9,000 vehicles in 2024. Lucid ended the second quarter with approximately $4.28 billion of total liquidity.

While the success of Lucid Motors is not guaranteed, the company has a solid foundation and unique offerings that set it apart from the competition. With its focus on luxury, advanced technology, and strategic partnerships, Lucid Motors has the potential to carve out a niche in the electric vehicle market.

To be fair, Lucid had cash and marketable securities totaling nearly $3.9 billion at the end of 2023. That's a lot of money, so there's no particular reason to think that Lucid is at any near-term risk of going bankrupt.

While many EV and green energy companies might go bankrupt over the next couple of years, Lucid Motors might not - for the simple reason that it had a total liquidity of $5.45 billion at the end of September 2023, which it believes will fund the launch of its Gravity vehicles and also last into 2025.

Lucid's origin story begins in California, where it was founded in 2007 with the original name Atieva. Since it's neither headquartered in China nor predominantly owned by Chinese organizations, it's clear that Lucid is not a Chinese company. On the other hand, it has significant ties to Saudi Arabia.

There's no question that the Lucid Air Sapphire is a better car than the Tesla Model S Plaid. It's brilliant to drive as a canyon-carving supersports sedan and a cross-country grand tourer. Its exceptional range and fast-charging capability challenge Tesla's reputation as the untouchable EV technology leader.

Lucid announced on August 5, 2024, that its largest shareholder, Saudi Arabia's Public Investment Fund (PIF), will inject up to $1.5 billion in cash to ramp up production of a new SUV.

Lucid expects its $4.78 billion in liquidity at the end of 2023 to last through "at least" 2025 as it ramps up its production of the Gravity SUV, but analysts expect it to continue burning cash at an alarming rate: it's expected to generate negative annual free cash flows (FCF) of $3.51 billion in 2024, $2.65 billion ...

Who is backing Lucid? ›

Lucid Group, the electric vehicle manufacturer, announced a significant boost to its financial standing with a $1.5 billion investment from its largest shareholder, Saudi Arabia's Public Investment Fund (PIF).

Lucid long term debt for 2021 was $1.993B, a INF% increase from 2020.

Lucid's sales have consistently fallen short of expectations. The Air is a superb EV, but the market for six-figure sedans, electric or otherwise, is pretty thin, and sales haven't materialized in the numbers that Lucid and its early investors hoped to see.

Lucid's next five years could be bright. However, it still feels too early to buy shares because of its huge losses and the amount of equity dilution it might take to support the company until it becomes profitable. Shares look like an optimistic hold pending more information.

Shares of LCID will remain on the Nasdaq 100 until Dec. 18. To be sure, the shares of these companies will not be delisted, meaning they will continue to trade on stock exchanges, but will merely not be included in the Nasdaq 100 index.

Shares of Lucid Group Inc. (LCID) sank to an all-time low Thursday as the luxury electric vehicle (EV) maker reported that production and deliveries skidded. For the full year, the company said it produced 8,428 EVs and delivered 6,001. In 2022, those numbers were 7,180 and 4,369, respectively.

The two-model startup, which only has the Air sedan in production, struggled out of the gate in 2021 when assembly started with quality control issues. Other startup automakers have had similar issues, including Fisker. Seasoned car companies often have stumbling blocks when they release a new vehicle.

Lucid stock has received a consensus rating of hold. The average rating score is and is based on 13 buy ratings, 16 hold ratings, and 10 sell ratings.