Lucid, one of Tesla's biggest competitors, announced a loss in the third quarter of 2023.
Lucid, a major rival to Tesla, one of the world's leading electric car manufacturers, is mostly known for its long-range cars. But the latest news revealed that things were not going well for Lucid.
It was seen that the revenue announced in the third quarter of 2023 was 137.8 million dollars, which was less than 195.5 million dollars in the same period last year. Lucid, which will launch a new model called Gravity in 2024 after its most popular and best-selling model, Lucid Air, announced a net loss of 631 million dollars.
Although it is a direct competitor to Tesla, the prices of its cars are 250 thousand dollars, making it difficult for them to achieve the desired success in sales. Let's see what kind of price policy and profit-loss table will be announced in the future.