Lucid Group has reported record quarterly vehicle deliveries for the fourth quarter of 2024, exceeding its production target. The electric vehicle manufacturer produced 9,029 units and delivered 10,241 cars in 2024, surpassing last year’s growth rate by a significant margin.
Compared to 2023, Lucid’s deliveries increased by 71% and production rose by 7%. Despite this impressive growth, the company’s stock has been affected by slower-than-expected EV adoption and increased cash burn. However, its stock price rose nearly 2% on Monday morning following the announcement.
Lucid’s first product, the Air sedan, was launched in late 2021, but the market has become increasingly competitive since then. The company is largely backed by Saudi Arabia’s Public Investment Fund and will announce its fourth-quarter financial results in February.
Source: https://www.cnbc.com/2025/01/06/lucid-deliveries-q4-2024.html