Lucid Lifts Liquidity by $1.75 Billion as Q3 Cash Burn Falls 30 Percent
Lucid used its third quarter results to announce a $1.75 billion increase in liquidity through expanded support from Saudi Arabia's Public Investment Fund, its anchor shareholder, via a larger delayed draw term loan facility. The EV maker ended the quarter with $2.0 billion in total liquidity, or $3.75 billion on a pro forma basis including the new increase, which it expects to fund operations and key investments into the fourth quarter of 2027. Third quarter revenue was $350 million, up 4 percent year on year in a US battery electric market that fell 41 percent over the same period. Free cash flow consumption dropped 30 percent sequentially to $1.04 billion. Lucid says its midsize program remains in final stage prototyping, with production planned for the second half of 2027, and its Saudi plant is nearing inauguration in early 2027.
Read the full story at Lucid Group via PR Newswire →
Pistons News summarizes the day's most important automotive news and links to the original reporting. The full story, photos and video are at the source above.