Lucid Struggles with High Costs and Slow Growth Despite Saudi Backing

Lucid Group is losing $338,000 per car according to Bloomberg, causing LCID stock to drop 17% in 2023.

Lucid focuses on luxury EVs, with its new Air Sapphire model costing $249,000.

Saudi Arabia's Public Investment Fund owns 65% of Lucid and is investing to make it a global player.

Lucid’s Q2 production and deliveries fell short of Q4 2022 numbers, raising concerns about its growth.

Lucid is staying afloat due to Saudi funding, but stock gains require increased production scale.