With 1,050 horsepower, the brand new Grand Touring Performance edition becomes essentially the most powerful version of Lucid’s electric Air sedan.
Lucid Motors
Luxury electric vehicle maker Lucid Group said late Thursday that it produced 2,314 of its Air sedans in the primary quarter. However it delivered just 1,406 Airs to customers in the course of the period, one other sign that the corporate is seeing weaker-than-expected demand.
Wall Street analysts polled by FactSet had expected Lucid to deliver about 2,000 Airs in the primary quarter. Lucid’s shares were down over 3% in after-hours trading following the news.
Lucid surprised Wall Street in February when it said that it planned to construct just 10,000 to 14,000 Airs in 2023, despite having “over 28,000” reservations in hand. On the time, CEO Peter Rawlinson said that he believed “too few persons are aware” of the corporate and its award-winning, but expensive, electric sedan – a touch that the corporate can have been struggling to convert reservations to sold orders.
One other hint that demand for the Air could also be weak got here late in March, when Lucid cut 1,300 staff, or about 18% of its workforce. The corporate is anticipated to take a one-time charge of between $24 million and $30 million for those layoffs, most of it in the primary quarter.
Lucid said on Thursday that it should report its first-quarter results after the U.S. markets close on May 8.