Luxury EV Maker Lucid Reports Another Loss Despite Saudi Funding

May 10, 2023
Posted by: AliensFaith
Category: OBJECTIVE PRESS

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Luxury electric vehicle maker Lucid this week reported a widening loss and revenues below estimates for the first quarter of 2023, despite receiving funding of around $2.4 billion from the sovereign wealth fund of Saudi Arabia, its majority investor. Lucid’s first-quarter revenue stood at $149.4 million, below an average analyst estimate of $209.9 million provided by Refinitiv. The net loss at Lucid widened to $779.5 million for the first quarter of 2023 from a loss of $81.3 million for the same period of 2022. The losses were…

Author: AliensFaith

HighTech FinTech researcher, university lecturer & Scholar. He is studying his second doctoral degree at the Hague International University. Studying different fields of Sciences gave him a broad understanding of various aspects of life. His recent researches covered AI, Machine-learning & Automation concepts. The Information Technology Skills & Knowledge gave his company a higher position over other regional high-tech consultancy services. The other qualities and activities which can describe him are a Hobbyist Programmer, Achiever, Strategic Thinker, Futuristic person, and Frequent Traveler.

Luxury EV Maker Lucid Reports Another Loss Despite Saudi Funding

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