Lucid Group’s Vehicle Production Volume (2022-2023)
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This article highlights Lucid Group’s Vehicle Production Volume from 2022 onwards, reported on a quarterly basis.
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This article highlights Lucid Group’s Vehicle Production Volume, reported on a quarterly basis from Q1 2022 onwards.
Lucid Group’s Vehicle Production Volume
Lucid Group, Inc, a public limited company founded in 2007 is an American EV manufacturing company. It is headquartered in California. The company is solely in the EV technologies business in which the company designs, engineers, and builds vehicles, EV powertrains, and battery- and battery-operated engines. As of now, 6+ models are made available by the luxury car company.
The Production volume of the Electric Vehicles for the quarter – Q2 2022, Q3 2022, Q4 2022 and Q1 2023:
| Period | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 |
| Vehicles Produced | 1,405 | 2,282 | 3,493 | 2,314 |
Lucid Group has turned into a potential competitor for Tesla, which is a market leader. Lucid with its huge battery and innovative system has beaten Tesla in the range department. The company has announced its production target to be around 10000 in the year 2023. Lucid has produced 2314 cars in Q1 of 2023 which is more than 200% of Q1 of 2022. The total production for the year 2022 is 7180 where Q2, Q3, and Q4 have contributed 19%, 32%, and 49% respectively. Although the company’s production volume looks steady, the vehicles’ delivered volume has taken a downfall because of which the company reported a 0.40 loss in EPS. The profitability of the company looks bleak and inventory has been loaded with unsold stagnant stock.
About Lucid Group Inc:
Lucid Group, Inc was founded in 2007 under the name Atieva. One of the founders of the company is a former Vice – president of Tesla Motors. Lucid is a luxury EV manufacturing company mostly producing 4-door, 5-seater sedans. The company aims to produce sustainable, comfortable EVs. Lucid’s other divisions include energy storage – battery, and original equipment manufacturing. The company entered Forbes’ Global 2000 in the year 2022 but dropped from it in 2023. Lucid Group moves its operations focusing on next-generation EV technologies, thus, its future depends on its innovation team.
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