RIYADH: Electric vehicle manufacturer Lucid Group, majority-owned by Saudi Arabia’s Public Investment Fund, boosted deliveries by 38 percent in the second quarter as it narrowed its operational net loss and adjusted its production forecast for the year.
The California-based company handed over 3,309 vehicles in the three months ending June 30, up from 2,394 a year earlier, while it reported a second-quarter operational net loss of $539.4 million, down from $643.4 million a year ago.
Production surged 83 percent year on year to 3,863 units, reflecting stronger demand for premium EVs in North America, according to a press release.
This comes as the company expanded charging access for Lucid Air owners through a partnership with Tesla, enabling use of over 23,500 superchargers across North America.
Marc Winterhoff, interim CEO at Lucid, said: “We had our sixth consecutive quarter of record deliveries in the second quarter and expect to continue this trend as we ramp up Lucid Gravity production in the second half of the year.”
