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EV maker Lucid sticks to annual production target despite revenue miss – The National

EV maker Lucid sticks to annual production target despite revenue miss – The National

Luxury electric vehicle maker Lucid Group maintained its annual production target after it missed quarterly revenue estimates, sending its shares higher in extended trading.Lucid said second-quarter revenue increased 55 per cent to $150.9 million from the same period a year earlier, but that missed estimates of $175 million, according to seven analysts polled by Refinitiv.The company posted a net loss of $764.2 million in the three month period to the end of June, compared with a $555.3 million net loss… 

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