Business
/C O R R E C T I O N -- Lucid Motors/
In the news release, Lucid Announces Third Quarter 2021 Financial Results and Lucid Air Wins 2022 MotorTrend Car of the Year, issued 15-Nov-2021 by Lucid
About this update from Lucid Group, Inc.
[{"type":"text","content":"In the news release, Lucid Announces Third Quarter 2021 Financial Results and Lucid Air Wins 2022 MotorTrend Car of the Year, issued 15-Nov-2021 by Lucid Motors over PR Newswire, we are advised by the company that the tables at the end have been added to the release. The complete, corrected release follows:\n\nLucid Announces Third Quarter 2021 Financial Results and Lucid Air Wins 2022 MotorTrend Car of the Year\n\n- Lucid Air today won the 2022 MotorTrend Car of the Year\n\n- Customer reservations rose to 13,000 in Q3, reflecting an order book of approximately $1.3B, and have since increased beyond 17,000\n\n- Customer vehicle production started in Q3 at Lucid's Advanced Manufacturing Plant (\"AMP-1\") in Casa Grande, Arizona, and the second phase of construction broke ground to add 2.85 million square feet of space\n\n- Lucid Group, Inc. successfully listed as a public company on Nasdaq in July under the ticker symbol LCID\n\n- Lucid bolstered its balance sheet to close Q3 with approximately $4.8B in cash\n\n\nNEWARK, Calif. and NEW YORK, Nov. 15, 2021 /PRNewswire/ -- Lucid Group, Inc. (Nasdaq: LCID) (\"Lucid\" or the \"Company\"), which is setting new standards with its advanced technologies and luxury electric vehicles (\"EVs\"), today announced financial results for the third quarter ending September 30, 2021. \nPeter Rawlinson, CEO & CTO of Lucid, said, \"We are tremendously excited by our accomplishments in our first quarter as a publicly traded company. We successfully began production of vehicles for customer deliveries, continued investing in capacity expansion of our manufacturing facility in Arizona, and opened new retail and service locations in advance of the Lucid Air launch. We were also pleased to receive independent validation by the EPA of our industry-leading range of over 500 miles for the Lucid Air. Our progress this quarter demonstrates our focus on execution, our cutting-edge technology, and our vision to help with solutions to address the climate challenges we all face. We look forward to ramping up production of our Grand Touring, Touring, and Pure models and expanding our footprint internationally.\"\nSherry House, CFO of Lucid, said: \"Lucid's strong balance sheet following the closing of the merger enabled us to drive the growth of our business and execute on our larger mission to inspire the adoptio...