Lucid Group (NASDAQ:LCID) reported its Q2 earnings yesterday. The EPS for the quarter came in at ($0.40), falling short of the anticipated consensus estimate of ($0.35). Lucid’s reported revenue of $150.9 million was driven by the delivery of 1,404 vehicles to customers during the quarter, significantly lower than the consensus-estimated revenue of $191.41 million.
Lucid closed the quarter with a total liquidity of approximately $6.25 billion, which is expected to be sufficient to fund the company’s operations until 2025.
CEO and CTO Peter Rawlinson acknowledged the company’s progress in achieving its 2023 production target of more than 10,000 vehicles. Rawlinson also highlighted notable accomplishments in the quarter, including a strategic partnership agreement with Aston Martin.