Panasonic agrees to supply EV batteries to Lucid Group
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December 15, 2022 10:53 AM EST
Bank of America global research resumed their coverage of Lucid Group (LCID) with a Buy rating and $21.00 price target after the company reported their 3Q22 earnings results. The electric car company reported a non-GAAP adjusted EBITDA loss of $(553)mm. They ended the 3Q with $3.9bn of cash, cash equivalents and investments on its balance sheet, down from $4.6bn at the end of the 2Q due to cash burn of $(860)mm in the... More
December 13, 2022 3:38 PM EST
Panasonic Energy announced alongside Lucid Group (NASDAQ: LCID) on Tuesday that the Japanese energy company has entered into multi-year agreements to supply batteries for Lucid's award-winning luxury electric vehicle, Lucid Air.
The agreement marks another milestone in Panasonic's plans to expand production of... More
