Lucid (LCID) secures battery supply for luxury EVs
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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 9:04 AM EST
TOKYO (Reuters) - Tesla Inc battery maker Panasonic Holdings on Tuesday said it had concluded an agreement to supply lithium-ion batteries to electric vehicle (EV) maker Lucid Group as the Japanese company seeks to expand its customer.
"Partnerships with technology-leading EV manufacturers such as Lucid are critical to our... More
December 13, 2022 9:03 AM EST
Panasonic Energy Co., Ltd., a Panasonic Group company, and Lucid Group, Inc (NASDAQ: LCID) today announced they have entered into multi-year agreements to supply batteries for Lucid's award-winning luxury electric vehicle, Lucid Air, the fastest-charging, longest range EV on the market, and Lucid's upcoming Gravity SUV. The agreement marks another milestone in Panasonic's plans to expand production of lithium-ion EV batteries beyond Japan and... More
