Post by icemandios on Oct 6, 2023 19:40:11 GMT
Shares of Lucid hit record lows in New York this week as concerns mount about ongoing demand woes for its Air electric luxury sedan. A new report reveals Lucid loses a staggering $338k per unit.
According to Bloomberg Intelligence, "Lucid may burn $338,000 per vehicle in EBITDA this year, an increase from $325,000 just months ago, demonstrating how its unsustainable business model requires significant scaling and additional funding -- likely before 2025."
According to Bloomberg Intelligence, "Lucid may burn $338,000 per vehicle in EBITDA this year, an increase from $325,000 just months ago, demonstrating how its unsustainable business model requires significant scaling and additional funding -- likely before 2025."
Jerry Braakman, chief investment officer at First American Trust, said in an interview, "Lucid is well below the pace needed to hit even 10,000 cars this year, and that's why they continue to bleed money."