Maybe it's time that Lucid Motors (LCID) -) got some good news.
The electric vehicle maker had some rough days earlier in the year, when the Newark, Calif.-based company was cutting its workforce and missing its delivery goals.
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Tesla (TSLA) -) CEO Elon Musk had some serious concerns about Lucid's future back in April.
Lucid missed Wall Street’s second-quarter expectations in August, posting a loss of 40 cents a share on sales of about $151 million. Analysts were looking for a loss of 34 cents per share on sales of $182 million.
Reveling in the delivery of the first #LucidAir Sapphires. pic.twitter.com/rTpORxQfIS
— Lucid Motors (@LucidMotors) October 9, 2023
An 'historic moment'
Peter Rawlinson, Lucid's CEO, said in a statement at the time that “we're on track toward achieving our 2023 production target of more than 10,000 vehicles, but we recognize we still have work to do to grow our customer base.”
"We raised $3 billion in capital to fund the forward business, removing financial concern and demonstrating the strength of our partnership with our core partner, the Public Investment Fund," Rawlinson told analysts, referring to the Saudi fund, which owns more than 60% of the company.
Now for the good part. The company said on Oct. 8 that it had begun Lucid Air Sapphire EVs deliveries, announcing on X, formerly Twitter, that "The #LucidOwnersClub just got faster."
"This historic moment would not be possible without the drive, talent, passion and determined resolve of our remarkable employees," Lucid said in an earlier post.
Members of the press and @BenCollinsStig joined Lucid at Sonoma Raceway to experience the #LucidAir Sapphire ahead of the first customer deliveries. pic.twitter.com/ULyN47xyhN
— Lucid Motors (@LucidMotors) October 7, 2023
Described as “the world’s first fully electric luxury super-sports sedan,” Lucid said the Air Sapphire could go from 0-60 mph in 1.89 seconds, topping TSLA Model S Plaid’s 1.99 seconds.
'Hypercar performance'
The vehicle delivers 1,234 horsepower and 1,430 pound-feet of torque from a tri-motor powertrain consisting of twin rear motors and a single front motor.
"Sapphire fuses hypercar performance, delightful handling, the tractability and turning response of torque vectoring with everyday usable in an unprecedented combination," Rawlinson told analysts.
Features include a 900V charging system, retuned front and rear springs, bushings, anti-roll bars, and steering software, revised front and rear suspension and an aluminum roof intended to reduce total vehicle weight and lower the center of gravity.
The vehicle also has heated and ventilated front sports seats with additional bolster support and massage function, a 34-inch floating Glass Cockpit with a unique Sapphire-themed on-screen display, 21-speaker Surreal Sound Pro immersive audio system, and DreamDrive Pro, Lucid’s driver assistance system.
How much does all this cost? Well, the Air Sapphire is going for $249,000 before taxes and other fees, making it Lucid's most expensive vehicle.
The company had a media event at the Sonoma Raceway on Oct. 7 and British racing driver said that he did 0-60 mph in 1.87 seconds.
"@elonmusk when will the @tesla #models #plaid #plus be ready?," he said on X, which Musk owns, and posted a video of his run.
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