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Lucid Group Hits Record Deliveries Despite Stock Decline

1/6/2025

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Summary

Story summary

Lucid Group achieved record Q4 2024 vehicle deliveries, with 3,099 units delivered, a 79% year-over-year increase.
Total production for 2024 reached 9,029 vehicles, surpassing the 9,000 target.
Despite growth, Lucid's stock declined 28% last year amid slow EV adoption and high cash burn.
The company intends to launch its Gravity SUV and produce lower-cost models by 2026.

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Story summary

Lucid Group achieved record Q4 2024 vehicle deliveries, with 3,099 units delivered, a 79% year-over-year increase.
Total production for 2024 reached 9,029 vehicles, surpassing the 9,000 target.
Despite growth, Lucid's stock declined 28% last year amid slow EV adoption and high cash burn.
The company intends to launch its Gravity SUV and produce lower-cost models by 2026.