Lucid Opens First German Dealership, Posts $1.35B Revenue Versus $2.61B Costs
Lucid's Interim CEO and CFO will present at Bank of America’s Global Automotive Summit on March 17 via webcast replayable for 90 days, signalling management outreach. The EV maker posted $1.35B revenue against $2.61B production costs, reports per-vehicle losses, while launching its first European dealership partnership in Germany with Wackenhut.
1. Management to Present at Bank of America Summit
Lucid's Interim CEO Marc Winterhoff and CFO Taoufiq Boussaid will participate in a fireside chat at Bank of America's Global Automotive Summit on March 17 at 2:10 pm EDT, with the session available live via webcast and archived for 90 days on Lucid's investor relations site.
2. Financial Results Highlight Per-Vehicle Losses
In the most recent period, Lucid generated $1.35 billion in revenue against $2.61 billion in production costs, resulting in losses on every vehicle sold and a 98% decline from its peak share value, reflecting continued unprofitability on a per-unit basis.
3. First European Dealership Partnership in Germany
Lucid has entered its first European dealership partnership with German retailer Wackenhut, which will establish sales and service operations in Germany, expanding the company's international retail footprint.