Lucid's revenue falls short of estimates as it guides to higher EV production in 2023
Publishing timestamp: 2023-02-22 19:51:55
Summary
Lucid, an electric vehicle maker, reported fourth-quarter revenue that fell short of expectations. The company built just 7000 of its Air luxury sedans last year and expects to make between 10000 and 14000 vehicles in 2023. The company ended the year with about $4.4 billion in cash and roughly $500 million available via lines of credit. Shares of the company fell roughly 7% in afterhours trading.
Sentiment: NEGATIVE
Tickers: LCID,
Keywords: earnings, business, electric vehicles, saudi arabia, climate, transportation, lucid group inc, business news,
Source: https://www.cnbc.com/2023/02/22/lucid-lcid-earnings-q4-2022.html