EV maker Lucid beats Q1 delivery estimates
Add BT as a preferred source
LUCID reported first-quarter deliveries above market expectations on Tuesday (Apr 9) as price cuts helped boost demand for its luxury electric sedans.
The company handed over 1,967 vehicles in the first quarter, compared with estimates of 1,745, according to eight analysts polled by Visible Alpha.
Lucid’s upbeat deliveries reflect the demand for its vehicles has remained resilient after the electric vehicle startup cut prices of its flagship Air sedans by 1 per cent to 10 per cent in February to attract buyers.
The company made 1,728 vehicles in the first quarter ended March 31, below estimates of 2,123, and compared with 2,391 in the preceding three months.
The company said last month it is raising US$1 billion in capital from Ayar Third Investment Company, an affiliate of Saudi Arabia’s Public Investment Fund. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
High Court rejects bid to bring ST Engineering unit into trademark infringement suit over RSAF aircraft parts
Ex-Sakae director Ong Siew Kwee handed 10.5-year jail term for misappropriating S$15.8 million, lying in court
DBS sees choppy Q3 for STI as investors pivot from Singapore banks to listcos that are unlocking value
Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks
