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Luxury Sedans

All articles tagged with #luxury sedans

business-automotive1 year ago•2 min saved

"Lucid Motors' 2024 EV Production Slashed to 9,000 Units, Stock Drops 5%"

Lucid Motors plans to produce only 9,000 electric vehicles in 2024, a significant drop from its initial prediction of 90,000, reflecting its struggle with demand and financial losses. The company's CEO aims to improve sales and marketing efforts, with hopes pinned on the upcoming Gravity SUV. Lucid faces supply chain and production challenges, but is banking on new models and technology licensing agreements to boost its prospects, including a deal with Aston Martin and a potential market growth in Saudi Arabia.

via TechCrunch|

#business-automotive #electric-vehicles #financial-results

business2 years ago•1 min saved

Lucid's Q2 Deliveries Disappoint as Demand Worries Linger

Luxury electric vehicle maker Lucid Group fell short of Wall Street estimates with its second-quarter deliveries of 1,404 Air sedans, compared to expectations of around 2,000. The company's stock has fallen about 58% in the past year amid concerns about demand for its expensive Air luxury sedan, despite having "over 28,000" reservations. Lucid recently cut about 18% of its workforce and struck a deal with Aston Martin Lagonda to supply electric-vehicle powertrains. The company expects to produce "over 10,000" vehicles in 2023 and has enough cash on hand to continue operations until at least the second quarter of 2024.

via CNBC|

#business #deliveries #demand-concerns

automotive2 years ago•4 min saved

BMW's i7 M70 xDrive: The Ultimate Electric Performance Sedan.

The 2024 BMW i7 M70 xDrive is the fastest all-electric BMW ever, boasting 650 hp, 811 lb-ft of torque, and a 0-60 mph time of 3.5 seconds. Its rear motor is BMW's most powerful electric motor to date, contributing to its impressive performance figures. Despite its weight, the i7 M70 xDrive has a range of around 295 miles and features an M-specific chassis, adaptive air suspension, and uprated brakes. The i7 M70 xDrive will be available in the second half of 2023, with pricing to be announced closer to production.

via CarScoops|

#automotive #bmw #electric-cars