Lucid Announces Q4 and Full Year 2022 Financial Results.
Play the article!

Lucid Announces Q4 and Full Year 2022 Financial Results.

In 2022, Lucid produced 7,180 vehicles and delivered 4,369 of them. The company also announced its 2023 annual production guidance of 10,000 to 14,000 vehicles.

Lucid Group, the EV manufacturer, has announced its financial results for the fourth quarter and full year ended December 31, 2022. The company exceeded its annual production guidance, producing 7,180 vehicles in 2022 and delivering 4,369 vehicles during the same period.

During Q4 2022, Lucid produced 3,493 vehicles at its manufacturing facility in Arizona and delivered 1,932 vehicles. Lucid has also announced its 2023 annual production guidance of 10,000 to 14,000 vehicles, which represents a significant increase from its 2022 production levels.

Lucid reported fourth-quarter revenue of $257.7 million, with annual revenue of $608.2 million. The company ended the quarter with approximately $4.9 billion in total liquidity, which is expected to fund the company at least into the first quarter of 2024. This strong financial position indicates that Lucid is well-capitalized to continue to develop and expand its EV production capacity.

As of February 21, 2023, Lucid reported reservations of over 28,000, representing potential sales of over $2.7 billion. It’s worth noting that this reservation number does not include the up to 100,000 vehicles under the agreement with the government of Saudi Arabia, which demonstrates the significant interest in Lucid’s vehicles.

Peter Rawlinson, Lucid’s CEO and CTO, said: Last year was a challenging year for everyone, yet despite the extraordinary supply chain and logistics challenges, the team persevered with an unrelenting focus on delivering what we believe is the best luxury sedan on the market. Lucid Air has it all — industry-leading range, exceptional driving dynamics, and superior performance all wrapped up in a truly elegant design with a spacious interior cabin. But more importantly, the technological advances of Lucid Air are developed entirely in-house with the singular goal to advance the adoption of EVs around the world for future generations to come. Lucid Air is the quintessential luxury sedan, and our goal in 2023 is to amplify our sales and marketing efforts to get this amazing product into the hands of even more customers around the world.

Also Read: Republic Services to roll out industry’s first fully integrated electric recycling and waste trucks.

Click here and follow us on Google News for regular EV updates.

Spread the love

Leave a Comment

Your email address will not be published. Required fields are marked *