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DEBBYQN
2021-11-16

At least something to show as compared to Rivian…

Lucid Stock Gains as Q3 Shows No Major Surprises for 'Car of the Year' Recipient

Lucid Group, Inc. shares were trading around 1.3% higher after-hours following the company’s report

Lucid Stock Gains as Q3 Shows No Major Surprises for 'Car of the Year' Recipient

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Customer reservations grew to 13,000 during the quarter, reflecting an order book of around $1.3 billion. In Q3 the company significantly strengthened its balance sheet via the closing of the de-SPAC reverse merger + PIPE, closing the quarter with approximately $4.8 billion in cash.</p>\n<p>Earlier today, the company's first car, the Luicd Air, received MotorTrend's Car of the Year. It's the first time any automaker has won the award with its first car.</p>\n<p><img src=\"https://static.tigerbbs.com/5bc7a7e4199e26df17008cd8c5169e52\" tg-width=\"874\" tg-height=\"649\" referrerpolicy=\"no-referrer\"><b>Third Quarter Financial Highlights</b></p>\n<ul>\n <li>In the third quarter of 2021, Lucid significantly strengthened its balance sheet through the closing of the de-SPAC reverse merger + PIPE, bringing approximately$4.4Bonto Lucid's balance sheet.</li>\n <li>Continued to invest in the business, readying production and deliveries, globalization of our retail network and adding headcount across R&amp;D and SG&amp;A to continue growing our core operations.</li>\n <li>Initiated investment in property, plant, and equipment associated with Phase 2 expansion of manufacturing, continued investment in vehicle program development, and ongoing expansion of retail, delivery, and service capacities.</li>\n</ul>\n<p><b>Third Quarter Business Highlights</b></p>\n<ul>\n <li><b>Received EPA Certification as Longest Range Production EV</b>: Lucid's technological prowess is a key differentiator for the company, with a \"clean-sheet\" approach to vehicle development that resulted in the ground-breaking Lucid Air, with six trim variants whose range exceeds 450 miles on a single charge. The Dream Edition R achieves 520 miles of range on a single charge.</li>\n <li><b>Refined Quality and Received Certifications</b>: In the third quarter of 2021, Lucid's engineering efforts were focused on optimizing product quality and delivering final certifications in the lead-up to factory commissioning and customer deliveries. Lucid's laser focus on engineering was validated through significant positive press and third-party validation by media, customers, and certification agencies like the EPA.</li>\n <li><b>Commissioned and Started Production at the First Greenfield, Dedicated EV Factory inNorth America</b>: AMP-1 inCasa Grande, AZ, is operational with production capacity to deliver up to 34,000 vehicles per year. Lucid is further differentiated with in-house powertrain manufacturing at Lucid Powertrain Manufacturing Plant (LPM-1) a few miles from AMP-1 inCasa Grande, AZ.</li>\n <li><b>Kicked off expansion of production capacity and capabilities</b>: Lucid kicked off the expansion of AMP-1's manufacturing capacity, expected to provide production capacity for up to 90,000 vehicles per year by the end of 2023, by expanding Lucid Air production capacity and adding production capacity for the \"Project Gravity\" SUV. The phase 2 expansion is expected to add2.85Msq. ft. of production footprint and will further vertically integrate production processes.</li>\n <li><b>Hosted Media, Customers and Lucid Stakeholders at AMP-1 Commissioning Event</b>: Lucid hosted a commissioning event for more than 150 customers, members of the media, institutional investors, and sell-side analysts, among other Lucid stakeholders.</li>\n <li><b>Continued Expanding Retail Network:</b>&nbsp;Lucid's direct-to-consumer sales are supported by brick-and-mortar retail studio and service center locations, delivering best-in-class customer experience in all elements of our customers' journey of vehicle ownership. Lucid expanded its footprint in Q3 to 13 locations in key geographies that align with Lucid's expected customer demand, and will continue expansion of its retail and service network, including expansion intoCanada(4Q'21), EMEA ('22), andChina('23), unlocking global demand for the sale of our product in the luxury vehicle marketplace.</li>\n <li><b>Increased Reservation Volume</b>: Surpassed 13,000 reservations in Q3 for estimated order book of greater than$1.3B.</li>\n <li><b>Announced Lucid Care</b>:&nbsp;Lucid announced Lucid Care, detailing our service capabilities and offerings.</li>\n</ul>\n<p><b>Looking Forward</b></p>\n<p>Looking ahead,Peter Rawlinsonnoted \"We see significant demand for the award-winning Lucid Air, with accelerating reservations as we ramp production at our factory inArizona. We remain confident in our ability to achieve 20,000 units in 2022. This target is not without risk given ongoing challenges facing the automotive industry, with global disruptions to supply chains and logistics. We are taking steps to mitigate these challenges, however, and look forward to the launch of the Grand Touring, Touring, and Pure versions of Lucid Air through 2022.\"</p>","source":"highlight_streetinsider","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Lucid Stock Gains as Q3 Shows No Major Surprises for 'Car of the Year' Recipient</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLucid Stock Gains as Q3 Shows No Major Surprises for 'Car of the Year' Recipient\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-16 07:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.streetinsider.com/dr/news.php?id=19220968><strong>StreetInsider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Lucid Group, Inc.  shares were trading around 1.3% higher after-hours following the company’s reported Q3 results, with EPS coming in at ($0.43), compared to ($6.64) in Q3/20.\nQuarterly revenue was $...</p>\n\n<a href=\"https://www.streetinsider.com/dr/news.php?id=19220968\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LCID":"Lucid Group Inc"},"source_url":"https://www.streetinsider.com/dr/news.php?id=19220968","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2183907418","content_text":"Lucid Group, Inc.  shares were trading around 1.3% higher after-hours following the company’s reported Q3 results, with EPS coming in at ($0.43), compared to ($6.64) in Q3/20.\nQuarterly revenue was $232,000, compared to $334,000 in Q3/20. Customer reservations grew to 13,000 during the quarter, reflecting an order book of around $1.3 billion. In Q3 the company significantly strengthened its balance sheet via the closing of the de-SPAC reverse merger + PIPE, closing the quarter with approximately $4.8 billion in cash.\nEarlier today, the company's first car, the Luicd Air, received MotorTrend's Car of the Year. It's the first time any automaker has won the award with its first car.\nThird Quarter Financial Highlights\n\nIn the third quarter of 2021, Lucid significantly strengthened its balance sheet through the closing of the de-SPAC reverse merger + PIPE, bringing approximately$4.4Bonto Lucid's balance sheet.\nContinued to invest in the business, readying production and deliveries, globalization of our retail network and adding headcount across R&D and SG&A to continue growing our core operations.\nInitiated investment in property, plant, and equipment associated with Phase 2 expansion of manufacturing, continued investment in vehicle program development, and ongoing expansion of retail, delivery, and service capacities.\n\nThird Quarter Business Highlights\n\nReceived EPA Certification as Longest Range Production EV: Lucid's technological prowess is a key differentiator for the company, with a \"clean-sheet\" approach to vehicle development that resulted in the ground-breaking Lucid Air, with six trim variants whose range exceeds 450 miles on a single charge. The Dream Edition R achieves 520 miles of range on a single charge.\nRefined Quality and Received Certifications: In the third quarter of 2021, Lucid's engineering efforts were focused on optimizing product quality and delivering final certifications in the lead-up to factory commissioning and customer deliveries. Lucid's laser focus on engineering was validated through significant positive press and third-party validation by media, customers, and certification agencies like the EPA.\nCommissioned and Started Production at the First Greenfield, Dedicated EV Factory inNorth America: AMP-1 inCasa Grande, AZ, is operational with production capacity to deliver up to 34,000 vehicles per year. Lucid is further differentiated with in-house powertrain manufacturing at Lucid Powertrain Manufacturing Plant (LPM-1) a few miles from AMP-1 inCasa Grande, AZ.\nKicked off expansion of production capacity and capabilities: Lucid kicked off the expansion of AMP-1's manufacturing capacity, expected to provide production capacity for up to 90,000 vehicles per year by the end of 2023, by expanding Lucid Air production capacity and adding production capacity for the \"Project Gravity\" SUV. The phase 2 expansion is expected to add2.85Msq. ft. of production footprint and will further vertically integrate production processes.\nHosted Media, Customers and Lucid Stakeholders at AMP-1 Commissioning Event: Lucid hosted a commissioning event for more than 150 customers, members of the media, institutional investors, and sell-side analysts, among other Lucid stakeholders.\nContinued Expanding Retail Network: Lucid's direct-to-consumer sales are supported by brick-and-mortar retail studio and service center locations, delivering best-in-class customer experience in all elements of our customers' journey of vehicle ownership. Lucid expanded its footprint in Q3 to 13 locations in key geographies that align with Lucid's expected customer demand, and will continue expansion of its retail and service network, including expansion intoCanada(4Q'21), EMEA ('22), andChina('23), unlocking global demand for the sale of our product in the luxury vehicle marketplace.\nIncreased Reservation Volume: Surpassed 13,000 reservations in Q3 for estimated order book of greater than$1.3B.\nAnnounced Lucid Care: Lucid announced Lucid Care, detailing our service capabilities and offerings.\n\nLooking Forward\nLooking ahead,Peter Rawlinsonnoted \"We see significant demand for the award-winning Lucid Air, with accelerating reservations as we ramp production at our factory inArizona. We remain confident in our ability to achieve 20,000 units in 2022. This target is not without risk given ongoing challenges facing the automotive industry, with global disruptions to supply chains and logistics. We are taking steps to mitigate these challenges, however, and look forward to the launch of the Grand Touring, Touring, and Pure versions of Lucid Air through 2022.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":631,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":41,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"hasMoreComment":false,"orderType":2}

Lucid Stock Gains as Q3 Shows No Major Surprises for 'Car of the Year' Recipient

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