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Story summary
- Lucid Group suspended its full-year forecast after a seat-supplier issue cut February Gravity deliveries.
- Q1 production rose 149% year-over-year to 5,500 vehicles, while deliveries fell to 3,093.
- Revenue was $282.5 million versus the $440.4 million estimate, resulting in a loss per share of $2.82.
- Shares fell over 8% in after-hours trading.
- Silvio Napolias became CEO as Lucid prepares to launch a midsize platform under $50,000 with Uber and Nuro robotaxi partners.
