The latest data released by American electric vehicle brand Lucid shows that its market position is steadily strengthening, but at the same time, the company's production slowdown has also attracted market attention.

Record delivery volume

This high-end electric vehicle manufacturer delivered 1,967 vehicles in the first quarter, which is higher than the 1,932 vehicles in the fourth quarter of 2022 and about 220 vehicles higher than market forecasts.

This achievement is attributed to the price adjustment in February, where Lucid previously reduced the car's selling price by up to 10%, with the cheapest electric car, the Air Pure, starting at $69,900.

Production decline

However, the production volume in the first quarter decreased to 1,728 vehicles, which is about 400 vehicles lower than the estimated value and far lower than the 2,391 vehicles in the previous quarter. The company expects to manufacture 9,000 electric vehicles this year.

Investment in Saudi Arabia

Last month, Lucid received an additional $1 billion investment from its largest shareholder, the Saudi Arabian Public Investment Fund, which greatly boosted its financial situation.

Stock price performance

As of 1:50 PM Eastern Time, Lucid's stock price has risen 3.6% to $2.74 per share. Since the beginning of this year, the stock has fallen by about 30%, and has fallen by nearly two-thirds in the past 12 months.