Lucid Group Inc., an EV company traded as LCID on the NASDAQ, is inviting potential customers to embark on grand tours with its Lucid Air Touring and Grand Touring models.
What Happened: Lucid tweeted on Sunday about its Grand Touring model, saying “Welcome to the life of luxurious spontaneity.” With an estimated range of 516 miles, 19″ wheels, 20-way massaging seats, a glass roof, and spacious interiors, the car is designed for luxurious travel.
The Lucid Air Grand Touring and Grand Touring Performance models began deliveries in April 2022. In November, Lucid announced the completion of its Air lineup with the Lucid Air Pure and Air Touring models. The five variants, including the limited-production model Air Sapphire, “complete our remarkable Air Family,” according to Lucid.
Lucid’s Air sedan is credited with breaking records for its 520-mile range on a single charge, the longest-ever EPA rating for an EV. Tesla’s highest range of 405 miles falls short of the base model of Lucid Air; the Lucid Air Pure has an EPA estimated range of 410 miles.
Why It Matters: Despite its high-range vehicles, Lucid reported first-quarter sales of $149.43 million, missing the consensus estimate of $209.88 million.
The California-based company produced 2,314 vehicles in the quarter, delivered 1,406 vehicles, and reported a loss of 43 cents per share, which missed the Street estimate of a loss of 41 cents per share.
Earlier this month, Lucid announced special lease and financing offers on available 2023 Lucid Air Touring and Grand Touring models through Lucid Financial Services. The offer is available through June 30th.
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