Lucid (LCID) sinks as deliveries fall short of expectations amid demand concerns

Tesla (TSLA) begins sale of Model Y in South Korea

July 14, 2023 8:18 AM EDT

Tesla (NASDSAQ: TSLA) opened sales for their Model Y rear wheel drive electric vehicle in South Korea Friday. A move that is expected to further accelerate the adoption of electric vehicles in the country.

As per the company's website, the listed price for the Model... More

Tesla (TSLA) Model Y registrations surging in U.S. says Kelly Blue Book

July 13, 2023 2:38 PM EDT

Kelly Blue Book, one of the most trusted automotive valuation and research companies, released the results of a study Wednesday showing that registrations for the Model Y, Teslas (NASDAQ: TSLA) least expensive SUV, grew by 103% between January and May. The Model Y currently starts at... More

Tesla (TSLA) in talks to build factory in India

July 13, 2023 8:35 AM EDT

According to reports buy the Times of India, Thursday, Tesla (NASDAQ: TSLA) is discussing an investment proposal with the Indian government to set up a factory with an annual capacity to produce about half a million electric vehicles.

According to the report, the vehicles will have a starting price of 2 million rupees... More

Tesla (TSLA) Model 3 tax credits likely reduced after Dec. 31

July 12, 2023 4:27 PM EDT

According to information posted on Tesla's (NASDAQ: TSLA) website on Tuesday evening, the federal tax credits of $7,500 for Tesla's Model 3 electric vehicles are expected to decrease after December 31.

The move comes as the U.S. government prepares to implement stricter regulations on batteries next year, with the aim of promoting domestic production of this essential... More

Citi Comments Mixed on Lucid Group Inc. (LCID) Following Q2 Update

July 12, 2023 11:05 AM EDT

Citi analyst Itay Michaeli reiterated a Neutral rating and $8.00 price target on Lucid Group Inc. (NASDAQ: LCID).

The analyst comments "Lucid reported Q2 deliveries of 1.4k units (flat QoQ), below our expectation of 1.8k and the Bloomberg consensus of 1.9k. Production... More

Lucid shares drop as deliveries take hit from Tesla's price war

July 12, 2023 9:12 AM EDT

By Akash Sriram

(Reuters) -Lucid Group said its second-quarter production dropped from the previous three months while deliveries stayed flat, sending the shares of the luxury electric-vehicle maker down about 12% on Wednesday.

The Saudi Arabia-backed startup has been struggling to ramp up production in the face of supply chain issues, while a price war started by market leader Tesla in January has intensified competition.

Lucid delivered 1,404 vehicles in... More

Lucid Group (LCID) Reports Q2 Production of 2,173 EVs, Delivery of 1,404 EVs

July 12, 2023 9:01 AM EDT

Lucid Group, Inc. (NASDAQ: LCID), setting new standards for luxury electric experience with the Lucid Air, winner of the 2023 World Luxury Car Award, today announced production and delivery totals for the quarter ended June 30, 2023. Lucid produced 2,173 vehicles during Q2 at its manufacturing facility in Arizona and delivered 1,404 vehicles during the same period.* In addition, the company began material shipments to the Kingdom of Saudi... More