![]() “The expansion of manufacturing capacity,” which was “expected to provide production capacity for up to 90,000 vehicles per year by the end of 2023 by expanding Lucid Air.” Lucid revealed no issues with supply chainsĭefendants informed investors that supply chain concerns, which plagued other automakers, would not hinder Lucid’s ability to meet its production objectives. A press statement issued by Lucid after the announcement of these results highlighted the company’s expansion potential, adding that Lucid “ontinued to invest in the business, readying production and deliveries.”Īdditionally, according to the press statement, Lucid had successfully begun manufacturing cars for customer deliveries, has continued investing in capacity growth at our manufacturing site in Arizona, and has created additional retail and service facilities in anticipation of the Lucid Air launch.Īs part of its commitment to achieving 20,000 units by 2022, Lucid also announced: ![]() Defendants informed investors that Lucid would deliver 577 electric vehicles (EVs) in 2021, 20,000 EVs in 2022, and 49,000 in 2023 (including 12,000 of the Gravity SUV, which would launch that year) as the firm moved to become a publicly listed company.Īfter a successful commercial launch of the Lucid Air, Lucid reported its third quarterly results on November 15, 2021, marking the start of the company’s first fiscal quarter. ![]() The transition allowed Lucid securities to be traded on the stock exchange and would provide it with $4.4 billion in capital.
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