Lucid said Monday it will reveal its long-awaited all-electric Gravity SUV in November with production not kicking off until late 2024.
The EV maker, which has experienced a drop in sales for its well regarded but pricey luxury sedan, had originally planned to begin producing the Gravity at its factory in Arizona in late 2023.
Lucid provided its first real update in April 2023 when it began testing pre-production versions of the Gravity SUV on public roads.
Lucid shared the Gravity production date in its second-quarter earnings report, which missed Wall Street expectations.
That still wasn’t enough to beat analysts expectations, which had forecast revenue of $175 million, according to Yahoo Finance data.
While that was double the number of EVs it delivered in Q2 2022, it was still about 600 fewer than analysts had expected, pushing shares lower.
This is the best summary I could come up with:
Lucid said Monday it will reveal its long-awaited all-electric Gravity SUV in November with production not kicking off until late 2024.
The EV maker, which has experienced a drop in sales for its well regarded but pricey luxury sedan, had originally planned to begin producing the Gravity at its factory in Arizona in late 2023.
Lucid provided its first real update in April 2023 when it began testing pre-production versions of the Gravity SUV on public roads.
Lucid shared the Gravity production date in its second-quarter earnings report, which missed Wall Street expectations.
That still wasn’t enough to beat analysts expectations, which had forecast revenue of $175 million, according to Yahoo Finance data.
While that was double the number of EVs it delivered in Q2 2022, it was still about 600 fewer than analysts had expected, pushing shares lower.
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