Lucid Group Shares Up After Announcing Deliveries To Begin Saturday For Its Air Dream Electric Sedan

Oct 29, 2021 By MarketDepth

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Lucid Group (NASDAQ: LCID), an electric vehicle manufacturer, shares rose as much as 47% on Thursday after the company announced that the first customer deliveries of its Air Dream Edition sedan would commence on Saturday. The vehicle has two available versions, the Dream Edition Performance and the Dream Edition Range, and are priced at USD169,000.

“Creating the Lucid Air has truly been a labor of love, with customer deliveries representing the culmination of years of endeavor from the entire Lucid team. So I’m truly excited to hand the keys to our first dear customers and accompany them on an inaugural drive through the iconic California countryside.”

Peter Rawlinson, CEO and CTO, Lucid

The company has invited several Air Dream reservation holders to pick up their vehicles at its California headquarters. However, the amount of customers invited was not disclosed.

Production Beginning To Ramp Up

Furthermore, a company spokesman refused to reveal the number of vehicles Lucid had produced thus far. Though, he did say that the company would continue to ramp up production of the car.

Manufacturing To Hit 20,000 Sedans in 2022

In July Lucid told investors that it hoped to manufacture 20,000 Lucid Air sedans within 2022, producing over USD2.2 Billion in revenue. The automaker says it expects to deliver 520 configured Lucid Air Dreams Editions, as well as lower-priced models later on.