Lucid Motors sets third straight quarterly sales file earlier than Gravity SUV delivery | TechCrunch – Techcrunch
Lucid Motors has now formally sold extra EVs this yr than it did in all of ultimate yr, and with three months to high-tail in 2024.
The milestone comes after Lucid presented Monday it delivered 2,781 vehicles in the third quarter of 2024. That’s a third straight file quarter for deliveries, despite the proven fact that Lucid is gentle effectively below the sales figures it once promised as part of the gigantic $4 billion reverse merger that made it a public company in 2021.
The upward pattern in sales is going on on the biggest moment for Lucid, which keeps leaning on its majority owner — Saudi Arabia’s sovereign wealth fund — to inject extra money earlier than the delivery of the electrical automaker’s Gravity SUV later this yr. That would possibly be the company’s 2nd mannequin and, maybe extra importantly, is accessible in a miles extra standard impact accept as true with its home market of North The United States.
Lucid did not break down where it’s been producing these elevated sales. It would possibly maybe maybe merely provide extra perception when it reviews its monetary outcomes for the quarter on November seventh. However the company has been stepping up shipments to Saudi Arabia in contemporary quarters, where it has a facility that performs final meeting of vehicles that comprise been mostly-built at its predominant factory in Arizona. (Lucid plans to originate a rotund-featured factory in Saudi Arabia in the upcoming years.)
Whereas sales comprise been up, the company mentioned Monday that it handiest built 1,805 Air sedans in Q3, down from the 2,110 it produced in the 2nd quarter. That manner it would favor to form extra than 3,000 EVs in the fourth quarter if it needs to hit its mentioned goal of making 9,000 vehicles this yr — something it’s handiest ever done once, aid in the fourth quarter of 2022.
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Sean O’Kane is a reporter who has spent a decade covering the snappy-evolving industry and skills of the transportation exchange, at the side of Tesla and the a amount of startups chasing Elon Musk. Most not too lengthy ago, he used to be a reporter at Bloomberg News where he helped break tales about about a of essentially the most infamous EV SPAC flops. He previously worked at The Verge, where he also covered client skills, hosted many short- and lengthy-impact videos, accomplished product and editorial pictures, and once virtually passed out in a Crimson Bull Air Breeze airplane.
