Lucid Group Inc reported its first quarter 2024 results, noting a substantial performance enhancement particularly in production and deliveries amidst a demanding macroeconomic environment. The company produced 1,728 vehicles and delivered 1,967—representing a significant year-over-year increase of 39.9%. Despite a GAAP net loss of $680.9 million, Lucid's management is optimistic about future profitability, driven by strategic partnerships and anticipated efficiency from the upcoming Gravity SUV. The firm's liquidity position remains robust, with $5.03 billion in total cash and cash equivalents, enabling it to navigate through significant upcoming capital expenditures for its new vehicle programs.