EV Loss Leader
【Summary】Luxury electric vehicle maker, Lucid Motors, reported a loss of $227,802 per car sold in the latest quarter, surpassing Ford's loss of $62,016 per electric vehicle. Lucid went public in 2021 with a market value of $91 billion but has since seen its stock price fall by 93%.
Democrats are quick to blame President Biden's age for the failure of his economic policies, allowing themselves to escape accountability. This tactic conveniently shifts the focus away from the actual impact of these policies on the country.
While Ford Motor Co. experienced a loss of $62,016 for each electric vehicle sold in the third quarter of this year, luxury electric-vehicle maker Lucid Motors faced an even greater financial setback. The company reported a staggering loss of $227,802 per car sold during the same period.
Similar to other electric vehicle startups, Lucid Motors went public during the pandemic by merging with a blank-check company. Despite only delivering 125 cars in its entire history, the company achieved an astonishing market value of $91 billion in November 2021. However, this success was short-lived, as Lucid's stock price has plummeted by 93% since its peak, resulting in mounting losses.
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