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Lucid Confirms First Customer Deliveries to Begin this Week

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By Sam Boughedda

Investing.com — Luxury electric vehicle company Lucid Group Inc (NASDAQ:LCID) said Wednesday it will begin delivering Lucid Air to customers on Oct. 30, with an exclusive Dream Delivery event in California.

Lucid shares jumped following the announcement, up around 4.3%, to $27.50.

The Dream Delivery event comes not long after the company started production last month at its manufacturing facility in Casa Grande, Arizona.

Once the customers have received their cars, Lucid said they will take part in the inaugural Lucid Rally to showcase the vehicle's "standout ride, handling, and performance capabilities."

"Creating the Lucid Air has truly been a labor of love, with customer deliveries representing the culmination of years of endeavor from the entire Lucid team," said Peter Rawlinson, CEO and CTO, Lucid Group.

"So I'm truly excited to hand the keys to our first dear customers and accompany them on an inaugural drive through the iconic California countryside."

Lucid said it intends to deliver 520 Lucid Air Dream Editions, which will then be followed by deliveries of Lucid Air Grand Touring versions. The company's Touring and Pure models are anticipated to be ready for delivery during next year.

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