Will Lucid Group (LCID) Meet Its 12 months-end Goal of Delivering 520 EVs?

Written by Jeff Lampkin

Lucid Group (NASDAQ:LCID) shares are at the moment buying and selling in a range-bound trend, awaiting the subsequent bullish catalysts now that the corporate’s first publicly disclosed earnings are behind us and deliveries of the Air Dream Version have lastly commenced.

As per the newest tally, Lucid Group has round 13,000 confirmed reservations for the Air EV. The corporate plans to fabricate 520 models in 2023, ramping up its manufacturing cadence to 20K models in 2023 and 49K models in 2023. Crucially, 2023 would additionally see the launch of the Lucid Gravity SUV. Furthermore, abroad shipments are additionally anticipated to begin subsequent yr.

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Keep in mind that corporations do face teething issues as they ramp up manufacturing. Whereas some require manufacturing line changes, others will be rectified pretty shortly. In current days, some prospects who had pre-ordered the Dream Version Air EV confronted inexplicable delays. That is to be anticipated. Nonetheless, relying upon the severity of the holdup, Lucid Group’s capability to fulfill its general 2023 supply dedication may be affected.

Throughout its first earnings name, Lucid Group’s CEO Peter Rawlinson had reiterated the dedication to ship 20,000 models in 2023. Nevertheless, Rawlinson had additionally recognized provide chain constraints as a menace to this goal.

Readers ought to be aware that other than remoted anecdotes, there aren’t any reviews of mass delays at the moment. This means that Lucid Group’s 2023 supply goal stays achievable for now.

On the 01st of December, the corporate tweeted out an image exhibiting round 51 Air EVs parked at Lucid Group’s Casa Grande facility. One other image that emerged in a while confirmed round 80 Air EVs. This can be a optimistic growth.

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Nevertheless, we nonetheless don’t formally know what number of Air EVs have been delivered in bulk. Keep in mind that Lucid Group must ship a median of round 8 EVs per day to fulfill its 2023 supply goal, primarily based on the 63 days between the thirtieth of October, when deliveries started, and the top of the yr. For 2023, this manufacturing cadence wants to extend to a median of 55 autos per day, assuming a year-round operation schedule.

On a associated be aware, InsideEVs not too long ago clarified a budding controversy associated to the Air EVs. The publication’s senior editor not too long ago posted a video of charging the car from 0 to one hundred pc. Nevertheless, some viewers took exception to the truth that the EV’s 118 kWh battery pack consumed 134 kWh of electrical energy to fast-charge. The publication has now clarified that Lucid Group has not resorted to any underhand tactic. Slightly, the discrepancy can merely be defined by accounting for the power misplaced throughout fast-charge as warmth.

Lucid Group shares recorded their highest value but because the merger on the sixteenth of November, when the inventory closed at $55.52. Whereas the inventory has now retreated over 12 p.c from that zenith, it nonetheless retains positive aspects of round 32 p.c over the previous 30 days.


So far as market capitalizations are involved, Lucid Group is at the moment ranked because the eighth largest automaker globally, simply forward of Ford (NYSE:F). It is usually the third-largest pure EV firm, behind solely Tesla (NASDAQ:TSLA) and Rivian (NASDAQ:RIVN).

About the author

Jeff Lampkin

Jeff Lampkin was the first writer to have joined He has since then inculcated very effective writing and reviewing culture at GamePolar which rivals have found impossible to imitate. His approach has been to work on the basics while the whole world was focusing on the superstructures.