EV startup Lucid loses $500,000 on every car…

Sharing is Caring!
  • Lucid’s second quarter earnings fell short of expectations after per-vehicle losses went viral.
  • 2023 is a make-or-break year for startups like Lucid.
  • Analysts are still optimistic about the second half of 2023.

It’s a tough time to be an electric-vehicle startup, and luxury brand Lucid is no exception.

See also  Barack Obama LOSES HIS MIND In DERANGED Rant In First Speech After Kamala Landslide Election Defeat!

The startup, founded by former Tesla Chief Engineer Peter Rawlinson, posted second-quarter results on Monday that once again fell short of analyst expectations. The company posted $150.9 million in revenue from the 1,404 vehicles it sold in the three-month period. Coupled with a net loss of roughly $764 million, the results suggest a loss of more than $500,000 per vehicle.

 

See also  Every person working in this California US Navy recruiting station is Chinese!

https://news.yahoo.com/ev-startup-lucid-losing-over-153717797.html