EV maker Lucid's quarterly production plummets; shares drop
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Tesla (TSLA) follows GM and Ford (F), slows EV ramp as demand drops
October 19, 2023 9:21 AM EDTTesla (NASDAQ: TSLA), on Wednesday, echoed the cautious approach of General Motors (NYSE: GM) and Ford (NYSE: F) towards expanding electric vehicle (EV) production capacity. The company cited economic uncertainties and emphasized concerns about a possible decline in demand.
Tesla CEO, Elon Musk voiced his apprehension about the... More
Lucid (LCID) deliveries not as bad as it seems, Bank of America reiterates Neutral rating
October 18, 2023 9:47 AM EDTBank of America (BofA) reiterated their Neutral rating and $8.00 price target on Lucid Group (NASDAQ: LCID) after the electric automaker reported 3Q23 delivery results.
Lucid's EV deliveries totaled 1,457 units, approximately 35% lower than BofA's estimated figure of 2,250. The slight increase from the 2nd quarter's 1,404 deliveries indicates a softer demand, indicating that the company might be encountering reduced market interest.
However, BofA analysts note that Lucid... More
Lucid (LCID) falls on 3Q production and delivery numbers
October 17, 2023 11:04 AM EDTShares of American electric vehicle company, Lucid Group (NASDAQ: LCID) are down almost 4% following the release of their 3Q production and delivery numbers Tuesday.
The company reportedly produced 1,550 EVs, with an additional 700 in transit to Saudi Arabia for final assembly.
The electric... More
