Lucid Motors, an electric vehicle company, achieved significant growth in revenues for the fourth quarter of 2022, amounting to 876% year-on-year, to record $258 million.
According to Arabiya.net, the total liquidity reached $4.9 billion by the end of 2022, and the company is expected to finance its operations using that liquidity until at least the first quarter of 2024.
Lucid produced approximately 3,500 vehicles at its Arizona manufacturing facility, and delivered 1,932 vehicles during the fourth quarter.
As for the company's annual revenue, it recorded 608 million dollars, compared to 27 million in 2021, noting that it had produced 7,180 vehicles and delivered 4,369 of them last year.
Lucid announced its annual production guidance for this year to reach 14,000 vehicles.
It is noteworthy that the Saudi Public Investment Fund owns more than 60% stake in the company.
