TSMC Japan's Second Fab to Produce 3nm Chips by 2028 
Britain Courts Anthropic Amid US Defense Department Dispute 
Annie Altman Amends Sexual Abuse Lawsuit Against OpenAI CEO Sam Altman 
Samsung Electronics Eyes Record Q1 Profit Amid AI-Driven Chip Boom 
SpaceX Eyes Historic IPO at $1.75 Trillion Valuation 
Apple's Foldable iPhone Faces Engineering Setbacks, Mass Production Timeline at Risk 
Paramount Skydance Secures $24B from Gulf Sovereign Wealth Funds for Warner Bros. Discovery Takeover 
Microsoft Eyes $7B Texas Energy Deal to Power AI Data Centers 
Alibaba Shares Slide as Jefferies Slashes Price Target Over AI Spending and Business Losses 
California's AI Executive Order Pushes Responsible Tech Use in State Contracts 
Private Credit Under Pressure: Is a Slow-Motion Crisis Unfolding? 
Apple Turns 50: From Garage Startup to AI Crossroads 
Pony.ai, Uber, and Verne Launch Europe's First Commercial Robotaxi Service in Zagreb 
UPS and Teamsters Reach Agreement to Limit Driver Severance Program 
LG Electronics Posts Record Q1 Revenue Amid Strong Demand and Cost Improvements 
NASA Artemis II: First Crewed Moon Mission Since Apollo Takes Four Astronauts on 10-Day Lunar Journey 
Lucid Motors achieved a record quarterly delivery of 2,394 vehicles in Q2, marking a 70% year-over-year growth, driven by strategic price reductions and incentives for the Air sedan. The company also produced 2,110 cars at its Arizona factory, preparing for future expansion.
Lucid Motors Reports 70% Year-Over-Year Growth in Q2 Deliveries, Driven by Air Sedan Price Cuts and Incentives
Lucid Motors has reported a substantial increase in vehicle deliveries (via Teslarati), with 2,394 vehicles delivered in Q2, marking a remarkable 70% growth from the previous year. This information was shared in a press release distributed on July 8. The company also manufactured 2,110 vehicles at its AMP-1 factory in Casa Grande, Arizona, a slight decrease of approximately 3% from the same period in the previous year.
The report is a testament to Lucid's commitment to growth and innovation. The company's extensive price reductions, financing incentives, and promotions for its Air Sedan in the first half of the year have set the stage for further expansion. Lucid is poised to ramp up its production and deliveries in the latter half of the year, leading up to the launch of its highly anticipated Gravity SUV.
Lucid will conduct its second-quarter earnings call on August 5, 2024, at 2:30 p.m. Pacific Time.
Lucid delivered 1,967 vehicles and produced 1,728, resulting in a net loss of $684.7 million. The company reiterated its production guidance of 9,000 cars for the year.
The Gravity SUV is anticipated to be approximately $80,000; however, Lucid has yet to disclose the official price or any other details regarding the EV's launch.
Lucid CEO Teases More Details on Gravity SUV, Plans for Mid-Size SUV by 2026
In recent interviews, CEO Peter Rawlinson has suggested that additional information will be disclosed in the months ahead. Additionally, the automaker has been promoting the forthcoming electric vehicle through a "Road to Gravity" video series. Lucid has also hinted at developing a mid-size SUV scheduled for production in late 2026, following the Gravity.
The Saudi Arabia Public Investment Fund owns a 60% stake in the automaker and is the company's most extraordinary shareholder. Last year, Lucid also established a facility in Saudi Arabia to facilitate the assembly of Lucid Air electric sedans.
Photo: Microsoft Bing
