Overview

• Lucid Motors reported Q1 revenue of $235 million, falling short of Wall Street expectations, but reaffirmed its full-year production goal of 20,000 vehicles.
• The company delivered a record 3,109 vehicles in Q1, though production lagged at 2,212 units, with additional vehicles in transit for assembly in Saudi Arabia.
• German sales fell for the sixth consecutive month in April, with only six vehicles registered, underscoring persistent demand challenges in Europe’s largest EV market.
• Lucid disclosed $5.76 billion in liquidity and announced plans to raise $1 billion through a convertible note offering to support its product expansion efforts.
• The Gravity SUV ramp remains slow, with just five units registered in the U.S. in April, as Lucid focuses on scaling production and advancing its upcoming midsize platform.