EV startup Lucid is losing over $500,000 on every car it sells
that once again fell short of analyst expectations. The company posted $150.9 million in revenue from the 1,404 vehicles it sold in the three-month period. Coupled with a net loss of roughly $764 million, the results suggest a loss of more than $500,000 per vehicle.
Still, analysts were encouraged by Lucid's outlook for the rest of the year, as the company confirmed its full-year production target. "The tone of the call was notably more positive than we have heard recently," Chris McNally, an analyst with Evercore, said in a Tuesday note."With yesterday's news of price cuts, investors will now question how much volume can grow on price reductions."
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