Lucid Group Inc Stock Price, News & Analysis

Lucid Group (NASDAQ: LCID), renowned for its cutting-edge electric vehicles, has appointed Nick Twork as Head of Global Communications. Twork will manage global communications, media relations, and social media, reporting to CEO Peter Rawlinson. Bringing over 20 years of experience from major automakers and tech companies, Twork will support Lucid's mission to decarbonize transportation as the company gears up for the production of its first SUV, Lucid Gravity. Twork's diverse background includes roles at Ford, GM, Porsche, and ONE, emphasizing his capability to enhance Lucid's brand and growth strategies. Lucid's flagship model, Lucid Air, starts at $69,900 and is acclaimed for its superior performance and efficiency.

Lucid Group (NASDAQ: LCID) announced that CEO and CTO Peter Rawlinson will speak at two notable industry events. On June 11, 2024, Rawlinson will participate in a fireside chat at the Deutsche Bank Global Auto Industry Conference at 2:40 p.m. Eastern Time. The following day, June 12, 2024, he will join the third annual Evercore ISI Global Clean Energy & Transitions Summit at 9:00 a.m. Eastern Time. Both events will be webcast live on Lucid's investor relations website, with replays available for 60 days following the presentations.

Lucid Group announced the appointment of Lisa M. Lambert to its board of directors, effective immediately. Lambert brings extensive experience in sustainability, infrastructure, and technology, having previously led projects at Intel and National Grid. She currently serves as Chief Investment Officer at the George Kaiser Family Foundation. Lambert's experience includes roles such as Chief Technology and Innovation Officer at National Grid and Managing Partner at The Westly Group. Lucid's CEO, Peter Rawlinson, highlighted Lambert's background in technology and sustainability as instrumental for the company's future growth. The company's board now includes nine members, all re-elected at Lucid's 2024 Annual Meeting of Stockholders.

Lucid Group, Inc. announced its first quarter 2024 financial results, reporting a revenue of $172.7 million and delivering 1,967 vehicles. The company raised $1.0 billion via a private placement to an affiliate of the Public Investment Fund and ended the quarter with approximately $5.03 billion in total liquidity. With plans to manufacture around 9,000 vehicles in 2024, Lucid is optimistic about its sales momentum and cost optimization programs, aiming to become a key player in the electric vehicle market.