Lucid Motors delivered a record of 4,078 vehicles in the third quarter, probably supported by a combination of more gravity SUVs with the road and a rush of customers taking advantage of the expiring Federal EV tax credit.
The Saudi luxury luxury startup is still far from the projections it was used in public in 2021 – a transaction that brought it $ 4 billion. But Lucid Motors has seen deliveries climb regularly in the past two years. The third quarter delivery figures announced Monday mark the seventh consecutive quarter that Lucid Motors saw sales increase.
Lucid Motors was not the only one to see a big bump in the third trimester in sales of electric vehicles. Tesla recorded its best quarter in the history of the company, and the car manufacturers inherited as Ford and General Motors have also seen large increases. Even Rivian, which provides for a worst overall year for deliveries of total electric vehicles that 2024 or 2023, experienced an increase in the third quarter.
Like Rivian, only customers who praised Lucid Motors vehicles were eligible for EV federal tax credit, which means that the impact of its expiration is difficult to quantify. It is also not known how many sevables have been delivered compared to the first model of the company, the air sedan. Lucid Motors will reveal complete financial results for the quarter on November 5.
Lucid Motors has struggled to arouse the interest of its luxury electric vehicles since it was public in 2021, the former CEO Peter Rawlinson openly admitting that the company had to strengthen its marketing operations. Earlier this year, the company announced that it has signed actor Timothee Chalamet as his first “world ambassador”. The company also benefited from rental sales and business leases in some quarters, as reported by Techcrunch previously.
The company is also increasingly turning to Saudi Arabia – which holds around 60% of the listed company through its sovereign fund – as a market for its vehicles. Lucid Motors said on Monday, said that he had built more than 1,000 vehicles specifically for the Saudi market. (The company is currently operating an assembly installation in the kingdom and plans to open a full -fledged factory.)
Lucid also locked the future request for an improbable customer: Uber.
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Uber announced last month planning to buy at least 20,000 sevables over the next six years and use them as a robotaxis on its network. For this agreement, Lucid Motors will work to integrate the technology of the Nuro autonomous vehicle company in vehicles.
