Lucid Group Co., Ltd. (NASDAQ:LCID) stock is rising on Monday after the company announced production and deliveries of EVs. 4th quarter total.
Lucid said it produced 3,386 vehicles and delivered 3,099 vehicles in the quarter that ended in December, increases of 42% and 78.7%. each from 1 year ago.
For comparison, the company produced 1,805 vehicles and delivered 2,781 vehicles. Third quarter of 2024.
Lucid Group reported that it produced 9,029 vehicles and delivered 10,241 vehicles in 2024, with 5% of deliveries subject to operating lease accounting. This is an increase of 7.1% and 70.6% respectively from the previous year.
Lucid also plans to release its fourth quarter earnings report after the closing bell on February 25th. The company plans to host a conference call to discuss the results that same day.
Also read: Tesla hits record EV sales in China despite global downturn: Report
Lucid reported Third quarter revenue of $200 millionn beat analysts’ consensus estimates of $197.97 million. Benzinga Pro.
In November 2024, the company began accepting orders for the Gravity SUV, with initial orders only available in Grand Touring trim. SUVs start at $94,900.
However, Lucid has revealed that production of the vehicle’s lower-priced Touring trim, which starts at $79,900, will only begin in late 2025.
Lucid also said it plans to produce a mid-sized platform by the end of 2026 that will cost about $48,000, targeting Tesla’s mass-market products. Model 3 and Model Y.
price action:LCID stock is trading 1.66% higher at $3.345 at last check on Monday.
Photo via Shutterstock.
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This article Lucid Production and Deliveries Surge in Q4: Details originally appeared Benzinga.com
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