- Delivered 1,734 vehicles in Q4 and 6,001 vehicles in 2023, up 37% compared to full year 2022
- Produced 2,391 vehicles in Q4 and 8,428 vehicles in 2023, meeting the higher-end of 2023 annual production guidance of 8,000 to 8,500 vehicles
- Q4 revenue of $157.2 million and annual revenue of $595.3 million
- Ended the quarter with approximately $4.78 billion of total liquidity
- Lucid is embarking on the Company’s next transformational phase, with the expansion of its vehicle lineup and total addressable market
- 2024 production guidance of approximately 9,000 vehicles
Lucid Group, Inc., setting new standards for luxury electric experience with the Lucid Air, America’s most awarded new luxury vehicle¹ and selected to Car and Driver’s 10Best list for 2024, today announced financial results for its fourth quarter and full year ended December 31, 2023.
The Company produced 2,391 vehicles during Q4 and delivered 1,734 vehicles during the same period. On a full-year basis, the Company produced 8,428 vehicles, meeting the higher end of the 2023 annual production guidance of 8,000 to 8,500 vehicles, and delivered 6,001 vehicles in 2023. Lucid today also announced its 2024 annual production guidance of approximately 9,000 vehicles, and will continue to prudently manage and adjust production to meet sales and delivery needs.
Lucid reported fourth quarter revenue of $157.2 million and annual revenue of $595.3 million, ending the quarter with approximately $4.78 billion of total liquidity.
“Lucid is investing for the long term in technology, manufacturing and partnerships to further solidify our place in the market as the premier luxury EV brand in the world,” said Peter Rawlinson, Lucid’s CEO and CTO. “In 2023, we made our first strategic technology arrangement, gained market share, completed the Air lineup, and unveiled Gravity. As we start 2024, I’m very excited about the year ahead and beyond. We are entering the next transformational phase of the Lucid vehicle lineup and are laser-focused on growth.”
“I’d like to echo Peter’s excitement as we start the year,” said Gagan Dhingra, Lucid’s Interim Chief Financial Officer and Principal Accounting Officer. “We outpaced our total addressable market and made headway with our cost optimization programs – a key strategic priority for the Company. I’m excited about the future as Gravity start of production is scheduled for late 2024 and the start of production for our high-volume Midsize platform is scheduled for late 2026.”
