Lucid Announces Q1 Production & Deliveries, Sets Date for First Quarter 2023 Results

Rhea-AI Summary

Lucid Group, Inc. (NASDAQ: LCID) reported its Q1 2023 production and delivery figures, producing 2,314 vehicles and delivering 1,406 vehicles during the quarter ending March 31, 2023. The company is recognized for its luxury electric vehicle, the Lucid Air, which won the 2023 World Luxury Car Award. A conference call to discuss detailed financial results will take place on May 8, 2023, with shareholders encouraged to submit questions via a new Q&A platform starting April 24, 2023.

Lucid emphasizes its mission to promote sustainable energy through advanced technology and luxury vehicles, boasting an EPA-estimated 516 miles of range for the Lucid Air. The company is expanding its market presence, with deliveries underway in the U.S., Canada, Europe, and the Middle East.

Positive

• Produced 2,314 vehicles in Q1 2023.
• Delivered 1,406 vehicles in Q1 2023.
• Lucid Air won the 2023 World Luxury Car Award.
• Plans to enhance shareholder engagement through a new Q&A platform.

Negative

• None.

NEWARK, Calif., April 13, 2023 /PRNewswire/ -- Lucid Group, Inc. (NASDAQ: LCID), setting new standards for luxury electric experience with the Lucid Air, winner of the 2023 World Luxury Car Award, today announced production and delivery totals for the quarter ended March 31, 2023. The company produced 2,314 vehicles during Q1 at its manufacturing facility in Arizona and delivered 1,406 vehicles during the same period.* 

Lucid will host a conference call to discuss its first quarter 2023 financial results on Monday, May 8, 2023, at 2:30 pm PT / 5:30 pm ET. Prior to the conference call, the company will issue an earnings press release with a link to the live webcast on its investor relations website, ir.lucidmotors.com. 

To enhance engagement with the company's shareholder base and facilitate connections with its investors, Lucid is partnering with Say Technologies to allow retail and institutional shareholders to submit and upvote questions, a selection of which will be answered by Lucid management during the earnings call. 

Starting on April 24, 2023, at 2:30 pm PT / 5:30 pm ET, all shareholders can submit questions by visiting: https://app.saytechnologies.com/lucid-group-2023-q1/. This Q&A platform will remain open until 24 hours before the start of the earnings call. Shareholders can email support@saytechnologies.com for any support inquiries. 

Earnings Call Details:

Date: Monday, May 8, 2023

Time: 2:30 pm PT / 5:30 pm ET

Webcast: https://ir.lucidmotors.com (live and replay)

About Lucid Group

Lucid's mission is to inspire the adoption of sustainable energy by creating advanced technologies and the most captivating luxury electric vehicles centered around the human experience. The company's first car, Lucid Air, is a state-of-the-art luxury sedan with a California-inspired design that features luxurious full-size interior space in a mid-size exterior footprint. The Lucid Air Grand Touring features an official EPA estimated 516 miles of range or 1,050 horsepower. Produced at Lucid's factory in Casa Grande, Arizona, deliveries of the Lucid Air are currently underway to customers in the U.S., Canada, Europe, and the Middle East. 

Investor Relations Contact

investor@lucidmotors.com

Sign up for investor email alerts: https://ir.lucidmotors.com/ir-resources/email-alerts

Media Contact

media@lucidmotors.com

Trademarks

This communication contains trademarks, service marks, trade names and copyrights of Lucid Group, Inc. and its subsidiaries and other companies, which are the property of their respective owners.

*Lucid's net income and cash flow results will be announced along with the rest of its financial performance when Lucid announces first quarter earnings.  Lucid vehicle production and delivery numbers represent only one measure of the company's operating performance and should not be relied on as sole indicators of quarterly financial results, which depend on a variety of factors.

Forward-Looking Statements

This communication includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "shall," "expect," "anticipate," "believe," "seek," "target," "continue," "could," "may," "might," "possible," "potential," "predict" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding Lucid's expectations related to production and delivery volume outlook and Lucid's finalized production and delivery totals for the quarter ended March 31, 2023. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of Lucid's management. These forward-looking statements are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from these forward-looking statements. Many actual events and circumstances are beyond the control of Lucid. These forward-looking statements are subject to a number of risks and uncertainties, including those factors discussed under the heading "Risk Factors" in Part I, Item 1A of Lucid's Annual Report on Form 10-K for the year ended December 31, 2022, as well as other documents Lucid has filed or will file with the Securities and Exchange Commission. If any of these risks materialize or Lucid's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Lucid currently does not know or that Lucid currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Lucid's expectations, plans or forecasts of future events and views as of the date of this communication. Lucid anticipates that subsequent events and developments will cause Lucid's assessments to change. However, while Lucid may elect to update these forward-looking statements at some point in the future, Lucid specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Lucid's assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.

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SOURCE Lucid Group

FAQ

What are Lucid Group's Q1 2023 production and delivery numbers?

Lucid Group produced 2,314 vehicles and delivered 1,406 vehicles in Q1 2023.

When will Lucid Group announce its Q1 2023 financial results?

Lucid Group will announce its Q1 2023 financial results on May 8, 2023.

What award did the Lucid Air win in 2023?

The Lucid Air won the 2023 World Luxury Car Award.

How can shareholders submit questions for Lucid's earnings call?

Shareholders can submit questions starting April 24, 2023, via the Say Technologies platform.

What is the estimated range of the Lucid Air?

The Lucid Air has an EPA estimated range of 516 miles.