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Search resuls for: "Lucid's"


9 mentions found


☆ Lucid owners are reporting glitches like bricking and cars driving the wrong way — just as the EV startup gets production under control
  + stars: | 2022-11-10 | by ( Alexa St. John | ) www.businessinsider.com   time to read: +10 min
Lucid hasn't yet publicly addressed the latest issues, which include reports of cars bricking or driving the wrong way. "It's critical that we maintain our competitive advantages by delivering a unique combination of hardware and software," Rawlinson told investors on a February earnings call. Insider spoke with 19 Lucid owners for this story — all of whom reported some software or hardware problems — as well as seven current former and Lucid software engineers. "If the car sits in the sun for the afternoon, DreamDrive won't read speed-limit signs," an owner in Arizona told Insider. But while Lucid has worked to service individual cars, owners told Insider, it hasn't publicly addressed these issues.
☆ 4 auto experts share their takeaways from 3rd-quarter woes at Rivian, Lucid, and Canoo — and what they expect for the end of 2022
  + stars: | 2022-11-10 | by ( Nora Naughton | Alexa St. John | ) www.businessinsider.com   time to read: +7 min
The electric-vehicle startups Rivian, Lucid, and Canoo released third-quarter results this week. Rivian and Lucid each made progress toward their production goals for the year and steadily increased customer deliveries. Canoo has yet to make any production vehicles. After it closed the gap in the second quarter, Rivian's pace of deliveries again fell behind production by 779 vehicles. Lucid underwent some changes in the third quarter following a rough second quarter.
☆ EV maker Lucid reports bigger quarterly loss
  + stars: | 2022-11-08 | by ( ) www.reuters.com   time to read: +1 min
[1/2] A Lucid Air electric vehicle is displayed in Scottsdale, Arizona, U.S., September 27, 2021. REUTERS/Hyunjoo Jin/File PhotoNov 8 (Reuters) - Lucid Group Inc (LCID.O) reported a bigger third-quarter loss on Tuesday, as the luxury electric vehicle maker struggled with rising costs to ramp up production. High prices for battery materials such as lithium, cobalt and nickel, exacerbated by the Russian invasion of Ukraine, have been eating into margins of electric vehicle makers, hurting their bottom line. Lucid's revenue rose to $195.5 million in the quarter ended Sept. 30 from $232,000 a year earlier. The company's net loss for the quarter ended Sept. 30 widened to $670.2 million, or 40 cents per share, from $524.4 million, or 43 cents per share, a year earlier.
☆ Luxury EV maker Lucid confirms it's on track to meet conservative 2022 production targets
  + stars: | 2022-10-12 | by ( John Rosevear | ) www.cnbc.com   time to read: +1 min
Electric vehicle start-up Lucid on Sept. 28, 2021 said production of its first cars for customers has started at its factory in in Casa Grande, Arizona. Electric luxury vehicle maker Lucid Group confirmed Wednesday that it remains on track to produce between 6,000 and 7,000 vehicles in 2022, in line with the more conservative guidance it provided to investors in August. Lucid has twice cut its production guidance for 2022. The California-based startup had originally expected to build 20,000 of its Air electric luxury sedans this year. Lucid is scheduled to report its full third-quarter results after the U.S. markets close on Nov. 8.
☆ Here's how the $360 billion electric car battery market will impact the future of EVs — and how affordable they are for car-buyers.
  + stars: | 2022-10-11 | by ( Alexa St. John | ) www.businessinsider.com   time to read: +14 min
There's also money to be made: The EV battery market could hit $360 billion by 2030, according to McKinsey. At Insider, we've looked at white-hot EV battery technologies that give automakers the EV performance they need at the price their customers want. It just led a $400 million investment into the little-known EV battery startup that could make it work. Giants like Tesla, GM, and Ford are going to be desperate for EV materials in the next decade. The soon-to-be $339 billion battery industry is on a hiring tear to power the shift to electric cars.
☆ Insiders say morale 'sucks' at electric-vehicle startups like Rivian and Lucid — and it could be a death blow for struggling Tesla wannabes
  + stars: | 2022-10-01 | by ( Alexa St. John | ) www.businessinsider.com   time to read: +8 min
As EV startups face a storm of troubles, many employees say they're losing faith in the mission. "They kept saying, 'Tesla, Tesla, the next Tesla,'" a now former supervisor at the electric-vehicle startup said. Canoo has lost several key leaders, as have Xos, Lucid, and others. Some current and former startup workers said they had a continued appetite for industry opportunities. Are you a current or former EV startup employee?
☆ Stocks making the biggest moves midday: Hertz, Ford, Keurig Dr Pepper and more
  + stars: | 2022-09-27 | by ( Michelle Fox | ) www.cnbc.com   time to read: +2 min
Check out the companies making the biggest moves midday:Hertz — Shares of the rental rental company jumped 1.9% after the company announced a partnership with BP's electric vehicle charging unit that will put thousands of charging stations at Hertz locations. Many of the stations will be used to charge Hertz's growing fleet of electric vehicles, but some will be available for public use. Keurig Dr Pepper — The beverage company shed about 3% after being downgraded by Goldman Sachs to a neutral rating from a buy. Lucid — The electric vehicle stock climbed 1.4% on Tuesday after Cantor Fitzgerald initiated coverage of Lucid with an overweight rating. Ark Invest's Cathie Wood also told CNBC Tuesday she is sticking by her bullish call on Tesla, saying "our confidence couldn't be higher as we see the movement towards electric vehicles accelerates."
☆ Stocks making the biggest moves premarket: Keurig Dr Pepper, CSX, Li Auto and more
  + stars: | 2022-09-27 | by ( Yun Li | ) www.cnbc.com   time to read: +1 min
Check out the companies making headlines before the bell:Keurig Dr Pepper — The consumer stock fell 1.5% premarket after Goldman Sachs downgraded the stock to neutral from a buy rating. The Wall Street firm said it sees increased risk to Keurig's margins as commodity inflation, especially related to coffee, remains elevated. The Wall Street firm said it will be hard for Norfolk and CSX to achieve the consensus 25% volume growth going forward. Amazon, Apple, Microsoft — Big Tech names Amazon, Apple, Alphabet and Microsoft all traded at least 1% higher premarket, a possible rebound from Monday's sell-off. Treasury yields retreated Tuesday morning after the multi-year highs hit in the previous session put pressure on tech names.
☆ 2023 will be critical for Lucid's bid to one-up Tesla — and it will have to overcome its production constraints and a sinking stock price
  + stars: | 2022-05-05 | by ( Alexa St. John | ) www.businessinsider.com   time to read: +10 min
Based in Newark, California, EV startup Lucid Motors has been racing to up its production in 2022. Much like many other EV upstarts, Lucid's stock has dropped around 80% this year. Quality control may prove vital for any EV startup trying to outdo Tesla. He's determined to lead in the same space that's seen the rise and fall of other EV startups, such as Nikola, Lordstown, and Faraday Future. Churchill Capital IV soars 33% after report says the SPAC is nearing a deal to take EV-maker Lucid Motors publicAre you a current or former Lucid employee?
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