EV Loss Leader
【Summary】Luxury electric vehicle maker, Lucid Motors, reported a loss of $227,802 per car sold in the latest quarter, surpassing Ford's loss of $62,016 per electric vehicle. Lucid went public in 2021 with a market value of $91 billion but has since seen its stock price fall by 93%.
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While Ford Motor Co. experienced a loss of $62,016 for each electric vehicle sold in the third quarter of this year, luxury electric-vehicle maker Lucid Motors faced an even greater financial setback. The company reported a staggering loss of $227,802 per car sold during the same period.
Similar to other electric vehicle startups, Lucid Motors went public during the pandemic by merging with a blank-check company. Despite only delivering 125 cars in its entire history, the company achieved an astonishing market value of $91 billion in November 2021. However, this success was short-lived, as Lucid's stock price has plummeted by 93% since its peak, resulting in mounting losses.
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