Stay updated with breaking news from Ucid gravity. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
(Reuters) -Lucid Group forecast higher capital expenditure this year and reiterated an annual production forecast below Wall Street targets on Monday amid slower-than-expected EV demand, sending its shares lower nearly 7% in extended trading. "From a capex perspective, we are making enhancements first in our Arizona factory because we are going from 30,000 installed capacity to 90,000," Gagan Dhingra, Lucid's interim finance chief, told Reuters. The company said it expects capital expenditure of ....
This 2022 Lucid Air Dream Edition Range model failed to sell when a California-based dealership refused to part with it for nearly $100,000 below MSRP ....
Lucid's deliveries remained resilient after the electric vehicle startup cut prices of its flagship Air sedans by 1% to 10% in February. However, demand for EVs overall has been slowing in the U.S. owing to high interest rates and relatively elevated ownership costs, compelling buyers to turn towards more affordable hybrid alternatives. EV giant Tesla reported a quarterly decline in deliveries for the first time in nearly four years earlier this month and missed Wall Street estimates. ....