Company Performance and Stock Movement - Lucid Group's stock surged 38 5% in December due to increased investor optimism following the start of production of its new Gravity SUV and CEO Peter Rawlinson's openness to a potential partnership with a traditional automaker [1][3] - The company reported a 7% increase in vehicle production to 9 029 units and a 71% jump in deliveries to 10 241 units for 2024 [6] Product Development and Market Impact - The start of Gravity SUV production marks Lucid's expansion into a second vehicle segment, complementing its existing Air sedan lineup [2] - Initial reviews of the Gravity SUV have been positive, with Edmunds calling it the "new benchmark for electric SUVs" [3] - Adding the Gravity to its lineup could help Lucid increase vehicle sales and lower production costs through shared parts across models [3] Strategic Partnerships and Financial Considerations - CEO Peter Rawlinson expressed interest in partnering with traditional automakers to supply technology and leverage economies of scale, potentially reducing parts costs and increasing revenue [4][5] - Lucid reported a net loss of $992 million in the third quarter as it ramps up vehicle production [4] - A partnership could help Lucid reduce costs and improve its financial position, similar to Rivian Automotive's $5 8 billion deal with Volkswagen [5] Future Outlook - Lucid needs to significantly increase sales and lower costs to narrow its losses, with investors awaiting fourth-quarter financial results on Feb 25 for a clearer picture of the company's financial health [6][7]

Company Performance - Lucid Motors has faced challenges in meeting production and delivery quotas since its IPO in 2021 [1] - The company produced 3,386 vehicles and delivered 3,099 in Q4 2024, with yearly production reaching 9,029 vehicles and deliveries at 10,241, surpassing its own guidance for the first time since 2022 [4] - Lucid's Q3 2024 earnings call showed significant outperformance in key financial metrics compared to analyst estimates [3] Stock Performance - Lucid's stock price was trading at $3 18 at press time, representing a 12 15% decrease since the beginning of 2024 [2] - The stock has shown notable peaks in July and August 2024, with a yearly high of $4 26 reached on August 26, 2024 [2][7] - To reach the $5 mark, LCID stock would need a 57 23% rally from current prices, which would represent a 17 37% upside from its yearly high [3][7] Market Position and Future Outlook - As a luxury EV manufacturer, Lucid's products are mostly unaffected by proposed EV credit cuts, as its cars were not eligible for them initially [5] - The launch of the Gravity SUV model in 2025 is expected to be a crucial revenue driver for the company [5] - If the current trajectory continues, Lucid's stock could potentially retest the $5 mark in the first half of 2025 [7]

Partnership and Collaboration - Panasonic Energy and Lucid Group announced a partnership to power the Lucid Gravity Grand Touring with Panasonic's lithium-ion EV battery cells [1] - The collaboration leverages Panasonic's latest-generation 2170 cylindrical lithium-ion battery cells, offering an energy density of above 800Wh/L, an industry-leading achievement [3] - The partnership was established through multi-year agreements in 2022, with Panasonic's batteries already integrated into the award-winning Lucid Air Pure [5] Lucid Gravity Grand Touring Features - The Lucid Gravity Grand Touring offers an EPA-estimated range of up to 450 miles, enabled by a battery pack up to 40% smaller than competitors' [1] - The SUV provides up to 120 cubic feet of total usable cargo space, combining the interior space of a full-size SUV with the exterior footprint of a mid-size SUV [2] - The vehicle delivers 828 horsepower, accelerates 0-60 mph in under 3.5 seconds, and is designed for up to seven adults [2] Battery Technology and Production - Panasonic Energy has supplied approximately 15 billion lithium-ion EV batteries globally by December 2023, equivalent to powering 3 million EVs, with no battery-attributed recalls [4] - The 2170 battery cells used in the Lucid Gravity models are produced in Japan, with future production expected at Panasonic's new facility in Kansas [5] - The batteries are designed to meet Lucid's standards for fast-charging, safety, longevity, and performance [3] Market and Pricing - The Lucid Gravity Grand Touring has a starting price of $94,900 and began production in December 2024 at Lucid's Arizona factory [5] - The Lucid Gravity Touring, with a starting price of $79,900, is planned for late 2025 and will also use Panasonic's 2170 batteries [5] Industry Impact and Vision - The collaboration between Panasonic and Lucid aims to set new standards in the EV industry, contributing to sustainable mobility and environmental sustainability [6] - Lucid Gravity is positioned as a groundbreaking SUV that combines the performance of a sports car with the comfort and space of a full-size SUV, without compromising on range or efficiency [6]

Stock Performance - Shares of Lucid Group surged by more than 10% this morning following the release of its Q4 EV delivery results, though the stock settled at a 4% increase by 11:35 a.m. ET [1] - The stock has risen sharply by over 60% in the past month [1] Production and Delivery Results - Lucid achieved a record production of 3,386 vehicles and delivered 3,099 vehicles in Q4 [2] - For the full year, the company produced just over 9,000 vehicles and delivered 10,241 EVs, with deliveries outpacing production [2] - Deliveries for the year increased by 71% compared to 2023, while production levels only increased by 7% [4] Financial Outlook - The decrease in inventory levels bodes well for the upcoming Q4 and full-year financial results, which will be reported on Feb 25 [3] - Higher sales are expected to help cover fixed costs, potentially improving financials, despite an operational loss of $2 3 billion in the first nine months of 2024 [4] New Product Development - The company's new Gravity SUV is a significant addition to its product line, as it previously only sold luxury electric sedans [6] - Production of the first Gravity SUV model is expected to begin before the end of 2024, with a second model trim to follow later this year [5] Investor Sentiment - Investors responded positively to the increase in production and deliveries of the Air sedans, driving the stock higher [6]

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

Luxury electric vehicle startup Lucid produced and delivered a record number of electric vehicles in the fourth quarter and full year of 2024. Lucid produced 3,386 vehicles and delivered 3,099 in Q4. On a full-year basis, the company produced 9,029 vehicles and delivered 10,241 vehicles in 2024, meeting its previously announced target to produce roughly 9,000 vehicles last year.  Those numbers are up about 7% from 2023, when Lucid produced 8,428 units.Along with Lucid’s production and delivery numbers, the ...

Brand new Lucid electric cars sit parked in front of a Lucid Studio showroom in San Francisco on May 24, 2024.Lucid Group on Monday reported record quarterly vehicle deliveries for the fourth quarter and confirmed production of more than 9,000 vehicles in 2024 — meeting a previously announced target.The electric vehicle manufacturer reported production of 9,029 units and deliveries of 10,241 cars in 2024. That included production of 3,386 units and delivery of 3,099 vehicles during the fourth quarter, the c ...

NEWARK, Calif., Jan. 6, 2025 /PRNewswire/ -- Lucid Group, Inc. (NASDAQ: LCID), maker of the world's most advanced electric vehicles, today announced production and delivery totals for the quarter ended December 31, 2024. During this period, Lucid produced 3,386 vehicles and delivered 3,099 vehicles, of which approximately 7% were subject to operating lease accounting.1  On a full year basis in 2024, the company produced 9,029 vehicles and delivered 10,241 vehicles, of which approximately 5% were subject to ...

The electric vehicle (EV) market is set to charge ahead in 2025, with global sales projected to surge by 30%, according to S&P Global Mobility. This momentum is expected to put 15.1 million new battery electric vehicles (BEVs) on the road, marking a sharp rise from the 11.6 million estimated in 2024.While regional challenges, including policy uncertainties in the U.S. and subsidy cuts in Germany, create some headwinds, the EV sector continues to thrive. Emerging markets like India and Brazil are witnessing ...

Shares of Lucid Group (LCID 3.46%) are rising sharply today. While the electric vehicle (EV) maker hasn't yet released its own fourth-quarter production and delivery figures, data from its peers is giving investors reason to be optimistic.At 11:15 a.m. ET, shares of Lucid were higher by 7.9%. That is contributing to the stock's massive 51% move higher over the last month.Fears of lagging EV demand may be misplacedInvestors spent much of 2024 worrying that consumer demand for EVs was dropping. Legacy automak ...