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Lucid Group Inc - LCID STOCK NEWS

Welcome to our dedicated page for Lucid Group news (Ticker: LCID), a resource for investors and traders seeking the latest updates and insights on Lucid Group stock.

Lucid Group Inc (NASDAQ: LCID) drives innovation in luxury electric vehicles through advanced engineering and vertical integration. This dedicated news hub provides investors and industry observers with official updates on Lucid's technological advancements, financial performance, and strategic initiatives.

Access timely announcements including quarterly earnings, new model launches, manufacturing expansions, and leadership updates. Our curated collection eliminates market noise by focusing exclusively on verified developments from Lucid's corporate communications.

Key content categories include powertrain innovations, retail network growth, sustainability initiatives, and partnership announcements. Bookmark this page for reliable updates on LCID's progress in redefining electric mobility through clean-sheet engineering and direct-to-consumer strategies.

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Lucid Group, Inc. reported Q2 revenue of $150.9 million on deliveries of 1,404 vehicles. The company has a total liquidity of $6.25 billion and is on track to manufacture more than 10,000 vehicles in 2023. Lucid also secured contracts worth over $450 million with Aston Martin. The original pricing for Lucid Air All Wheel Drive starts at $82,400. The company finalized a purchase agreement with the Government of Saudi Arabia. Production for Lucid Air Sapphire and Lucid Air Pure Rear Wheel Drive is set to begin in mid-September. The Lucid Gravity SUV unveiling is scheduled for November, with production starting in late 2024.
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Lucid Group, Inc. announced production and delivery totals for Q2 2023. They produced 2,173 vehicles and delivered 1,404 vehicles during the period. The company also began material shipments to the Kingdom of Saudi Arabia. Lucid will host an earnings conference call on August 7, 2023, to discuss its financial results.
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Lucid Group, Inc. has priced its underwritten public offering of 173,544,948 shares of its common stock for approximately $1.2 billion. In addition, its majority stockholder Ayar Third Investment Company has agreed to purchase 265,693,703 shares in a private placement for approximately $1.8 billion. Ayar expects to maintain its approximate 60.5% ownership of Lucid's outstanding common stock. The net proceeds will be used for general corporate purposes.
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Lucid Group, Inc. (NASDAQ: LCID) reported first quarter revenue of $149.4 million, a year-over-year increase of 159%. They produced 2,314 vehicles and delivered 1,406 vehicles during the same period. Lucid plans to manufacture over 10,000 vehicles in 2023 and ended the quarter with approximately $4.1 billion total liquidity.
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Lucid Group has announced that its upcoming Lucid Gravity luxury electric SUV has entered a new phase of development, now conducting tests on public roads in the U.S. The Gravity SUV is engineered to deliver an unmatched combination of spaciousness, performance, and driving range, accommodating up to seven adults with features designed for various lifestyles. The vehicle is set to outperform all current electric SUVs in terms of driving range, alongside introducing advanced technology like Glass Cockpit displays powered by Lucid UX. CEO Peter Rawlinson expressed confidence in the SUV's potential to revolutionize the market, drawing upon Lucid's established reputation after the success of the Lucid Air sedan.

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Lucid Group, Inc. (NASDAQ: LCID) has appointed three new directors to its board: Sherif Marakby, Chabi Nouri, and Ori Winitzer, effective immediately. This change follows the company's annual shareholder meeting where the new members were elected, replacing Nancy Gioia, Frank Lindenberg, and Tony Posawatz. The board now consists of nine members, with eight qualifying as independent under NASDAQ rules. CEO Peter Rawlinson expressed excitement for the new directors' contributions to Lucid's mission of sustainable luxury electric vehicles. Each new member brings extensive experience from automotive and luxury sectors, with Marakby previously serving at Magna and Ford, Nouri at Piaget, and Winitzer at Guggenheim Partners.

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Lucid Group (NASDAQ: LCID) announced the launch of its new Stealth Appearance option for the Lucid Air, marking a significant milestone with the commencement of first deliveries. This optional design theme, priced at $3,000 for models with a metal roof and $6,000 for those with a Glass Canopy roof, features up to 35 components with a darker aesthetic. The Stealth Appearance enhances the Air's design with black gloss and satin graphite accents, creating a distinct visual appeal. Deliveries began at the Lucid Costa Mesa service center in Southern California, with expansion planned nationwide. Lucid aims to redefine luxury electric vehicles with innovative designs and sustainable technology. As part of its mission, Lucid continues to inspire the adoption of sustainable energy and advance luxury electric experiences.

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Lucid Group Inc

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