"The vehicle was touted for its impressive horsepower and acceleration, and for its long-range capabilities. The SUV was a driver for Lucid's strong 2025 sales growth forecast as well. This year, the company announced it would acquire production facilities from bankrupt electric truck maker Nikola, as well as management changes, including the chief executive stepping down and the chief operating officer becoming interim CEO."
"Actor Timothée Chalamet was named as its first-ever Global Brand Ambassador, and Lucid made a robotaxi deal with Uber. Lucid effected a 1-for-10 reverse stock split. Along with its second-quarter 2025 financial results, it lowered its full-year production guidance, citing market volatility and industry headwinds. Recent news had the share price down 18.2% in the past month to a multiyear low. The stock is 50.8% lower than a year ago,"
Lucid began production of the Gravity luxury electric SUV, marketed for horsepower, acceleration, and long range, and expected to boost 2025 sales. The company moved to acquire Nikola production facilities and implemented management changes, including the chief executive stepping down and the COO becoming interim CEO. Lucid appointed Timothée Chalamet as Global Brand Ambassador, struck a robotaxi deal with Uber, and executed a 1-for-10 reverse split. The company lowered full-year production guidance citing market volatility and headwinds. Shares plunged to multiyear lows after a post-SPAC surge, amid production issues, weak EV demand, and high pricing.
Read at 24/7 Wall St.
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