Lucid Group Surpasses Q4 Delivery Expectations, Meets 2024 Production Goal

Jan 6, 2025, 02:50 PM

Lucid Group Inc. reported record quarterly vehicle deliveries for the fourth quarter of 2024, with 3,099 vehicles delivered, surpassing expectations of 2,637. The company also met its annual production target, producing a total of 9,029 electric vehicles (EVs) and delivering 10,241 vehicles throughout the year. This represents a 7% increase in production and a 71% increase in deliveries compared to 2023. Lucid's stock experienced a positive reaction, rising approximately 5% in premarket trading on the day of the announcement. The company's focus remains on its Air sedan, with plans to ramp up production of its new Gravity SUV, which is expected to significantly boost sales in the coming years.