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Lucid Motors Breaks EV Delivery Record, Eyes Growth

Lucid Motors has reached a significant milestone by delivering 2,394 vehicles in the second quarter of 2024
July 9, 2024

Lucid Motors has set a new benchmark in the electric vehicle (EV) industry by delivering 2,394 vehicles in the second quarter of 2024. This achievement marks a significant increase from its previous record of 1,967 deliveries in the first quarter, underscoring the company's growing presence in the competitive EV market.

Based in California and backed by Saudi investors, Lucid Motors has been strategically lowering prices and expanding its product range to attract a broader customer base for its flagship Lucid Air sedan. Originally priced around $100,000, recent reductions have brought the starting price down to $69,900, making it more accessible to potential buyers.

CEO Peter Rawlinson expressed optimism about Lucid's future prospects, citing sales momentum, operational efficiencies, and strong consumer and corporate interest following the pricing adjustments earlier this year. These efforts are part of Lucid's broader strategy to capitalize on the expanding EV market and pave the way for its upcoming Gravity SUV, slated to commence production by the year's end.

The announcement of Lucid's second-quarter delivery figures comes amidst similar updates from industry peers like Rivian and Tesla. While Rivian's sales remained stable compared to previous quarters, Tesla experienced a slight decline year-over-year despite an uptick from the first quarter of 2024.

Lucid Motors' impressive sales growth underscores its position as a formidable player in the EV sector, setting the stage for further expansion and innovation in the months ahead.

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