Lucid Group, Inc. - LCID STOCK NEWS

Lucid Group (NASDAQ: LCID) and Panasonic Energy announced that the new Lucid Gravity SUV will be powered by Panasonic's latest-generation lithium-ion EV battery cells. The Gravity Grand Touring model features an EPA-estimated range of 450 miles with a battery pack 40% smaller than competitors, offering 828 horsepower and 0-60 acceleration in under 3.5 seconds.

The vehicle utilizes Panasonic's 2170 cylindrical cells with an industry-leading energy density above 800Wh/L. The Gravity Grand Touring, starting at $94,900, began production in December 2024, while the Touring model, priced at $79,900, is planned for late 2025. The SUV provides up to 120 cubic feet of cargo space and can accommodate seven adults.

Panasonic Energy has supplied approximately 15 billion lithium-ion EV batteries globally by December 2023, powering 3 million EVs without any battery-related recalls.

Lucid Group (NASDAQ: LCID) has released its Q4 2024 production and delivery figures. The company produced 3,386 vehicles and delivered 3,099 vehicles in Q4, with approximately 7% subject to operating lease accounting. For the full year 2024, Lucid produced 9,029 vehicles and delivered 10,241 vehicles, with about 5% under operating lease accounting.

The company will discuss its Q4 2024 financial results in a conference call scheduled for February 25, 2025, at 2:30 pm PT. Lucid is partnering with Say Technologies to facilitate shareholder engagement, allowing investors to submit and upvote questions between February 11 and February 23, 2025, which management will address during the earnings call.

Lucid Group (NASDAQ: LCID), an electric vehicle manufacturer, has announced its participation in the Nasdaq 51st Investor Conference in London. The company will engage in a fireside chat session on Wednesday, December 11, 2024, at 7:00 am PT / 3:00 pm GMT.

The event, organized in collaboration with Morgan Stanley, will be accessible through a live webcast on Lucid's investor relations website. Investors and interested parties can access the replay of the presentation for 90 days after the live event through the company's IR website at ir.lucidmotors.com.

Lucid Group (NASDAQ: LCID) announced its Q3 2024 financial results, reporting revenue of $200.0 million from the delivery of 2,781 vehicles, a 90.9% increase over Q3 2023. The company produced 1,805 vehicles in Q3 and is on track to manufacture approximately 9,000 vehicles in 2024. Lucid ended the quarter with $5.16 billion in total liquidity and completed a capital raise of approximately $1.75 billion in October 2024. GAAP net loss per share was $(0.41), while non-GAAP net loss per share was $(0.28). CEO Peter Rawlinson highlighted their third consecutive quarter of record deliveries and the opening of the order book for the Lucid Gravity SUV, which is set to begin production this year. Interim CFO Gagan Dhingra noted improved gross margin performance and cost reduction efforts.

Lucid Motors has launched configurations and orders for its new Lucid Gravity SUV. The Grand Touring model starts at $94,900 with production scheduled for late 2024, while the Touring version will start at $79,900 with production in late 2025. The Grand Touring features dual electric motors delivering 828 horsepower and over 440 miles of projected range. The vehicle offers seating for up to seven adults and up to 120 cubic feet of cargo capacity. Available with multiple customization options including six exterior colors, various wheel designs, and five interior themes, the Gravity comes with three levels of DreamDrive™ advanced driver assistance system and optional packages for enhanced handling, technology, and towing capability up to 6,000 pounds.

Lucid Group announced that orders for its new electric SUV, the Lucid Gravity, will open on November 7, 2024. The Grand Touring trim, starting at $94,900, will feature over 800 horsepower and a projected range exceeding 440 miles, with production scheduled for late 2024. The Touring trim, starting at $79,900, is planned for late 2025 production.

The vehicle offers space for up to seven adults and 120 cubic feet of total cargo space. Current Lucid owners will receive priority delivery. The SUV features in-house electric motors and an optional three-chamber air suspension system. U.S. customers can configure and order directly through Lucid's website.

Lucid Group (NASDAQ: LCID) announced that its Lucid Air models have received the highest possible five-star overall safety rating from the National Highway Traffic Safety Administration's (NHTSA) New Car Assessment Program for 2025. The Lucid Air Pure, Touring, Grand Touring, and Sapphire models achieved maximum five-star scores across all testing categories: frontal crash, side crash, and rollover testing. The vehicle's safety features are enhanced by its high-strength, lightweight aluminum construction and innovative battery pack design that contributes to the car's structural integrity.

Lucid Group (Nasdaq: LCID) has announced the pricing of its public offering of 262,446,931 shares of common stock. The offering is expected to close on October 18, 2024. Additionally, Lucid's majority stockholder, Ayar Third Investment Company, an affiliate of the Public Investment Fund (PIF), has agreed to purchase 374,717,927 shares in a private placement at the same price. This private placement is set to close on October 31, 2024.

The combined public offering and private placement are expected to generate aggregate gross proceeds of approximately $1.67 billion. Lucid plans to use the net proceeds for general corporate purposes, including capital expenditures and working capital. BofA Securities is acting as the sole underwriter for the public offering.

Lucid Group (Nasdaq: LCID) has announced a public offering of 262,446,931 shares of common stock, with an option for the underwriter to purchase up to 39,367,040 additional shares. BofA Securities is the sole underwriter. Concurrently, Lucid's majority stockholder, Ayar Third Investment Company, an affiliate of the Public Investment Fund (PIF), intends to purchase 374,717,927 shares in a private placement at the same price, maintaining its approximate 58.8% ownership.

The net proceeds from both the public offering and private placement will be used for general corporate purposes, including capital expenditures and working capital. The offering is being made pursuant to Lucid's effective shelf registration statement on Form S-3.