Lucid Group Inc

A Rivian electric truck sits parked in front of a Rivian service center on August 08, 2023 in South San Francisco, California.Justin Sullivan | Getty ImagesShares of electric vehicle makers Rivian and Lucid plummeted Thursday after the companies reported disappointing results and stagnant production in their fourth quarter earnings after the bell Wednesday.Rivian shares plunged about 25% and Lucid's stock sank more than 15% as of Thursday afternoon.Rivian forecast it will make 57,000 vehicles in 2024, slightly below the…

United Auto Workers President Shawn Fain, middle, visits striking UAW Local 551 workers outside a Ford assembly center on South Burley Avenue on Saturday, Oct. 7, 2023, in Chicago. John J. Kim | Tribune News Service | Getty ImagesThe United Auto Workers union is launching an unprecedented campaign to organize 13 non-union automakers in the U.S. after bargaining record contracts with the Detroit automakers.The union said Wednesday the drive will cover nearly 150,000 autoworkers across with BMW, Honda, Hyundai, Lucid,…

U.S. electric vehicle maker Lucid Group will set up its first overseas factory in Saudi Arabia, the company announced.Javier Blas | Bloomberg | Getty ImagesWhen BlackRock, the world's largest asset manager, announced this week it was adding the head of the world's largest oil company, Saudi Aramco, to its board of directors, some investors might have been caught off guard given BlackRock's leading role in the market when it comes to investing in a low-carbon future. But CEO Larry Fink, who has been under intense pressure…

Visitors walk at the Lucid Air during the Mobile World Congress 2023 (MWC), the telecom industry's biggest annual gathering on February 28, 2023 in Barcelona, Spain. Chris Jung | Nurphoto | Getty ImagesLuxury electric vehicle maker Lucid Group said Wednesday that it delivered 1,404 of its Air sedans to customers in the second quarter, a bearish update amid demand concerns.Lucid's second-quarter deliveries compare with 1,406 deliveries in the first quarter of 2023 and 679 in the second quarter of 2022. Wall Street analysts…

People walk by electric truck maker Rivian's newly opened storefront in the Meatpacking District of Manhattan on June 23, 2023 in New York City.Spencer Platt | Getty ImagesShares of Rivian Automotive jumped more than 16% in early trading Monday after the electric vehicle maker beat Wall Street expectations for quarterly deliveries.Rivian on Monday reported 12,640 vehicle deliveries during the second quarter, up 59% from the previous quarter and topping analyst expectations of 11,000 vehicles, according to analyst…

In an aerial view, a sign is posted on the exterior of Lucid headquarters on March 29, 2023 in Newark, California. Electric vehicle maker Lucid announced plans to lay off 1,300 workers, 18 percent of its workforce, as part of a restructuring plan. Justin Sullivan | Getty ImagesLucid Group said on Wednesday that it is raising about $3 billion through a new equity offering, with the majority coming from the Saudi fund that controls the luxury electric-vehicle maker.Shares of the company fell more than 6% after hours.Lucid…

A 2019 pre-owned Nissan Leaf SV on the lot in 2022 during the chip shortage that depleted stock of new auto inventory.Boston Globe | Boston Globe | Getty ImagesAffordable EVs have been on sale in the U.S. well over a decade and the data analytics company Experian says about 2.2 million were on the road at the end of last year. Electric vehicle sales keep growing, too. As recently as 2021, total battery-powered electric vehicle sales in the U.S. were under 450,000, but Kelley Blue Book says sales surpassed 800,000 in 2022…

In an aerial view, a sign is posted on the exterior of Lucid headquarters on March 29, 2023 in Newark, California. Electric vehicle maker Lucid announced plans to lay off 1,300 workers, 18 percent of its workforce, as part of a restructuring plan. Justin Sullivan | Getty ImagesLuxury electric vehicle maker Lucid Group on Monday reported widening first-quarter losses, but said that it still has enough cash to continue operations into next year.Shares were down over 8% in after-hours trading following the news."We are on…

Lucid showing a preproduction version of the Gravity, a luxury electric SUV, testing on US public roads. The Gravity is expected to begin shipping in 2024.Courtesy: LucidLuxury electric-vehicle maker Lucid Group said Tuesday that it has begun testing its next model, a large SUV called Gravity, on public roads in the U.S., a key milestone ahead of the Gravity's expected launch next year.Lucid hasn't yet fully revealed the Gravity in production-spec trim. But the company has said that the Gravity will have seating for up to…

With 1,050 horsepower, the new Grand Touring Performance edition becomes the most powerful version of Lucid's electric Air sedan.Lucid MotorsLuxury electric vehicle maker Lucid Group said late Thursday that it produced 2,314 of its Air sedans in the first quarter. But it delivered just 1,406 Airs to customers during the period, another sign that the company is seeing weaker-than-expected demand.Wall Street analysts polled by FactSet had expected Lucid to deliver about 2,000 Airs in the first quarter. Lucid's shares were…