By ZeroHedge - Nov 15, 2023, 9:00 AM CST
- Lucid Motors reported a net loss of $630.9 million in Q3, translating to over $227,000 lost per vehicle sold, excluding overhead costs.
- Despite a peak valuation of $91 billion and selling only 125 vehicles by November 2021, Lucid's stock price has plummeted by approximately 93%.
- Other EV manufacturers like Rivian and traditional automakers like Ford are also facing significant losses in their EV divisions, indicating broader challenges in the EV market.
What do you get after a decade of negative real rates and unlimited QE as monetary policy? Losing $227,000 per vehicle as an acceptable business model for an automobile company!
At least that's the case over at Lucid, according to a new writeup from the Daily Caller.
See Also
Home | Lucid Motors';document.write(write_html);}
The California-based Lucid Motors, offers four electric vehicle (EV) models priced between $74,900 and $249,000 and reported a third-quarter net loss of $630.9 million, excluding overhead costs.
This amounts to over $227,000 in losses per car sold, the report says, citing its financial statements and calculations by The Wall Street Journal.
