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

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  • 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.

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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.

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

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