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Lucid Announces Fourth Quarter and Full Year 2022 Financial Results, Exceeds Annual Production Guidance With 3,493 Vehicles in Q4 and 7,180 in the Full Year 2022
3,493 vehicles produced in Q4, up 53 percent sequentially7,180 vehicles produced in 2022, exceeding annual production guidance of 6,000 to 7,000 vehiclesQ4
About this update from Lucid Group, Inc.
[{"type":"text","content":"3,493 vehicles produced in Q4, up 53 percent sequentially7,180 vehicles produced in 2022, exceeding annual production guidance of 6,000 to 7,000 vehiclesQ4 revenue of over $257M and annual revenue of over $608MEnded the quarter with approximately $4.9B total liquidity2023 production guidance of 10,000 to 14,000 vehiclesNEWARK, Calif., Feb. 22, 2023 /PRNewswire/ -- Lucid Group, Inc. (NASDAQ: LCID), setting new standards with the longest-range, fastest-charging electric car on the market, today announced financial results for its fourth quarter and full year ended December 31, 2022. The Company produced 3,493 vehicles during Q4 at its manufacturing facility in Arizona and delivered 1,932 vehicles during the same period. On a full-year basis, the Company produced 7,180 vehicles, exceeding the 2022 annual production guidance of 6,000 to 7,000 vehicles, and delivered 4,369 vehicles in 2022. Lucid today also announced its 2023 annual production guidance of 10,000 to 14,000 vehicles. \n\n \n \n \n \n \n \n\n \nLucid reported fourth quarter revenue of $257.7 million and annual revenue of $608.2 million, ending the quarter with approximately $4.9 billion total liquidity, which is expected to fund the Company at least into the first quarter of 2024. The Company reported reservations of over 28,000, as of February 21, 2023, representing potential sales of over $2.7 billion. This reservation number does not include the up to 100,000 vehicles under the agreement with the government of Saudi Arabia. \n\"Last year was a challenging year for everyone, yet despite the extraordinary supply chain and logistics challenges, the team persevered with an unrelenting focus on delivering what we believe is the best luxury sedan on the market,\" said Peter Rawlinson, Lucid's CEO and CTO.\n\"Lucid Air has it all — industry-leading range, exceptional driving dynamics, and superior performance all wrapped up in a truly elegant design with a spacious interior cabin. But more importantly, the technological advances of Lucid Air are developed entirely in-house with the singular goal to advance the adoption of EVs around the world for future generations to come. Lucid Air is the quintessential luxury sedan, and our goal in 2023 is to amplify our sales and marketing efforts to get this amazing product into the hands of even more customers around the world,\" Rawl...