Lucid Group reported Q2 2024 revenue of $200.6 million, delivering 2,394 vehicles, up 70.5% YoY. The company produced 2,110 vehicles in Q2 and remains on track for annual production target of approximately 9,000 vehicles. The quarter ended with total liquidity of $4.28 billion.The company announced a new $1.5 billion commitment from Public Investment Fund (PIF) affiliate, expected to provide sufficient liquidity into at least Q4 2025. Management highlighted positive sales momentum, benefits from cost optimization programs, and growing excitement for the upcoming Lucid Gravity launch.Lucid achieved a milestone efficiency of 5.0 miles per kilowatt hour, demonstrating its technological leadership. The Q2 financial performance reflects increased Air sales and cost reduction efforts, contributing to the company's journey toward improving gross margin.

Lucid Group reported Q2 2024 revenue of $200.6 million, delivering 2,394 vehicles, up 70.5% YoY. The company produced 2,110 vehicles in Q2 and remains on track for annual production target of approximately 9,000 vehicles. The quarter ended with total liquidity of $4.28 billion.The company announced a new $1.5 billion commitment from Public Investment Fund (PIF) affiliate, expected to provide sufficient liquidity into at least Q4 2025. Management highlighted positive sales momentum, benefits from cost optimization programs, and growing excitement for the upcoming Lucid Gravity launch.Lucid achieved a milestone efficiency of 5.0 miles per kilowatt hour, demonstrating its technological leadership. The Q2 financial performance reflects increased Air sales and cost reduction efforts, contributing to the company's journey toward improving gross margin.