Tesla Inc TSLA CEO Elon Musk on Monday responded with shock to the resignation of rival EV maker Lucid Group Inc‘s LCID Chief Monetary Officer Sherry Home.
What Occurred: “!,” Musk wrote on X with out elaborating. The CEO was responding to a Tesla fanatic who flagged the information on the social media platform saying, “Delisted from Nasdaq 100 and CFO leaves all within the span of some days. Lucid’s solely selection for survival IMO is to go personal and fully rethink their technique.”
Final week, it was reported that Lucid can be one of many six shares removed from the Nasdaq 100 index earlier than the market opening on Dec. 18 as a part of an annual reconstitution, sending shares sliding. Earlier on Monday, the corporate additionally introduced the departure of its CFO Sherry Home.
Final month, Musk agreed with an fanatic after they guessed that Lucid can be taken personal in 2024 saying, “Good guess.”
Lucid’s Monetary Image: Lucid reported a quarterly lack of 28 cents per share and income of 137.8 million for the third quarter. The corporate delivered 1,457 automobiles within the quarter and made 1,550. This takes the loss incurred per car supply to over $433,000 for the corporate whose CEO Peter Rawlinson was previously the chief engineer for Tesla‘s Mannequin S.
Moreover, in an try and align deliveries with manufacturing, the corporate is now seeking to produce solely 8,000-8,500 automobiles this yr, down from its earlier projection of over 10,000 items.
Although Lucid operates within the U.S., it’s 60% owned by Saudi Arabia’s Public Investment Fund. The PIF has invested about $5.4 billion into Lucid since 2018.
Picture courtesy: Thomas Hawk on Flickr
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Tesla CEO Elon Musk Surprised At Lucid CFO’s Departure – Lucid Gr (NASDAQ:LCID), Tesla (NASDAQ:TSLA) www.benzinga.com 2023-12-12 05:15:14
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