Lucid Motors (LCID) shares Q4 financial results, ends 2022 with enough liquidity to reach 2024
Following a little teaser in early January, Lucid Motors has publicly shared its financial results for Q4 and the full fiscal year 2022 in an investor presentation you can view below. Air EV production was way up to cap off last quarter, leading to revenues over $257 million. As a result of the whole year, Lucid Motors believes it is liquid enough to safely navigate into 2024. Details below.
Lucid Motors continued to bolster its previously struggling EV production processes this past quarter after twice adjusting its projected annual outputs due to supply chain constraints. Q3 saw its most productive quarter to date in which the American automaker delivered 1,398 Air sedans, equating to nearly $200 million in revenue.
At the time, Lucid relayed that Lucid it remained on track to meet its output goal of 6,000 to 7,000 EVs for 2022 as it geared up to begin deliveries of its flagship EV’s third trim – the Air Touring. This past January, Lucid let the public know it capped off Q4 of 2022 by exceeding the high end of its production guidance, producing 7,180 EVs at its high-tech AMP-1 facility in Casa Grande, Arizona.
Those numbers are nowhere near the 20,000 EVs originally anticipated for 2022, or the revised target of 12,000-14,000 units after that, but Lucid’s production growth in Q4 still accounted for nearly half its entire annual output, so it appears to found a stride it looks to continue into 2023 with a much more grounded production guidance.
Lucid Motors looks to carry Q4 momentum into 2023
You can check out the full Q4 and fiscal year 2022 report from Lucid Motors here, but we’ll outline some of the key talking points below. Q4 revenue was $257.7 million for a total of $608.2 million for 2022. That’s up from $195.5 million in Q3. As a result, Lucid states that its $4.9 billion in total liquidity is expected to keep the company afloat into Q1 of 2024 at a minimum.
In total, Lucid delivered 4,369 of the 7,180 Air EVs it produced in 2022, and it’s reporting that it still has over 28,000 reservations to fill – equating to approximately $2.7 billion in additional sales revenue. Those numbers do not include the (up to) 100,000 Air reservations in place from the government of Saudi Arabia. But those deliveries are expected to take place over the course of the next decade. Lucid CEO and CTO Peter Rawlinson spoke to the company’s Q4 and 2022 progress:
Last year was a challenging year for everyone, yet despite the extraordinary supply chain and logistics challenges, the team persevered with an unrelenting focus on delivering what we believe is the best luxury sedan on the market.
Lucid Air has it all — industry-leading range, exceptional driving dynamics, and superior performance all wrapped up in a truly elegant design with a spacious interior cabin. But more importantly, the technological advances of Lucid Air are developed entirely in-house with the singular goal to advance the adoption of EVs around the world for future generations to come. Lucid Air is the quintessential luxury sedan, and our goal in 2023 is to amplify our sales and marketing efforts to get this amazing product into the hands of even more customers around the world.
Looking ahead to 2023, Lucid Motors has shared its production guidance will be between 10,000 and 14,000 units, in which it could achieve the high end of if it can stay on the approximately 3,500 EV pace it hit in Q4 2022.
In its earning release presentation, the American Automaker shared that construction of its AMP-2 facility in Saudi Arabia is underway and will begin operations by assembling Lucid Air sedans pre-manufactured at AMP-1 in the US, but will eventually produce entire EVs. At its peak output, Lucid expects AMP-2 to produce up to 155,000 additional vehicles per year.
It was surprising that there was very little mention of the Gravity SUV – Lucid’s second model that was originally scheduled to begin reservations in “early 2023.” As we’ve discussed before, Lucid’s 3 million square-foot AMP-1 Phase 2 expansion will include assembly lines for Gravity, which is expected to begin production sometime in 2024.
Before then, we should see production of the ultrafast tri motor Air Sapphire this Summer. Lots to reflect on in the documents above but even more to look forward to in 2023. Lucid Motors still has work to do in order to scale production and meet demand, but its Q4 results are certainly a momentum builder. Let’s see if it can hit 2023’s production guidance without an eraser marks.
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Hyundai is keeping the savings going after extending its EV deals yet again. With leases starting as low as $179 a month, the Hyundai IONIQ 5 is hard to pass up right now.
Hyundai extends IONIQ 5, IONIQ 9 lease deals
After a “breakout” month for IONIQ 5 sales in August, Hyundai looks to keep the momentum rolling. At least for another month.
The Hyundai IONIQ 5 remains a top-selling EV in the US, and might be your best bet if you’re looking to go electric.
Through its Hyundai Getaway sales event, the 2025 IONIQ 5 was listed for lease for as low as $179 per month in August. Although the deals were set to end on September 2, Hyundai has extended them until the end of the month.
The 2025 IONIQ 5, now with more range, an NACS port, and a stylish new design, can still be leased for just $179 per month.
That’s for the Standard Range SE trim with a driving range of 245 miles. The extended range IONIQ 5 SE, with up to 318 miles of range, is available from $199 per month.
You can even snag the souped-up XRT trim for under $300 a month right now. All the offers are for a 24-month lease with $3,999 due at signing.
The deals include the $7,500 EV Lease Bonus, which is also set to expire at the end of September. With the bonus, the net cap cost drops to just $24,380 (SE Standard Range RWD model).
| 2025 Hyundai IONIQ 5 Trim | EV Powertrain | Driving Range (miles) | Starting Price* | Monthly lease price September 2025 |
| IONIQ 5 SE RWD Standard Range | 168-horsepower rear motor | 245 | $42,500 | $179 |
| IONIQ 5 SE RWD | 225-horsepower rear motor | 318 | $46,550 | $199 |
| IONIQ 5 SEL RWD | 225-horsepower rear motor | 318 | $49,500 | $209 |
| IONIQ 5 Limited RWD | 225-horsepower rear motor | 318 | $54,200 | $309 |
| IONIQ 5 SE Dual Motor AWD | 320-horsepower dual motor | 290 | $50,050 | $249 |
| IONIQ 5 SEL Dual Motor AWD | 320-horsepower dual motor | 290 | $53,000 | $259 |
| IONIQ 5 XRT Dual Motor AWD | 320 horsepower dual motor | 259 | $55,400 | $359 |
| IONIQ 5 Limited Dual Motor AWD | 320-horsepower dual motor | 269 | $58,100 | $299 |
Hyundai also extended the offers for its new three-row electric SUV, the IONIQ 9. Leases for the 2026 Hyundai IONIQ 9 start at $419 per month. If you choose to finance it, Hyundai is offering a $5,000 cash bonus on all trims.
Both the 2025 IONIQ 5 and 2026 IONIQ 9 are built at Hyundai’s EV plant in Georgia, enabling them to qualify for the $7,500 federal tax credit. With the credit set to expire at the end of September, the savings will likely disappear. It will be up to the automakers to step in with significant incentives to keep lease prices as low as they are.
Want to lock in the deals before they are gone? Check the links below to find local offers on the 2025 Hyundai IONIQ 5 and 2026 IONIQ 9 in your area.
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Costco members looking for a break on car prices can tap into a new Volvo deal this fall. Members can tap into limited-time manufacturer incentives through the Costco Auto Program, a year-round auto-buying service that secures prearranged low pricing. The latest: a Certified by Volvo Limited-Time Special launched this week.
Certified by Volvo vehicles are pre-owned Volvos that must pass a rigorous test with 170+ points, have less than 80,000 miles, and receive a detailed CARFAX Vehicle History Report. They come with roadside assistance, and EVs and plug-in hybrids also include an 8-year/100,000-mile battery warranty.
Until October 31, 2025, eligible Costco members can score an exclusive bonus when buying select Certified by Volvo vehicles from model years 2022 through 2025.5. Gold Star and Business Members get $1,000 off, and Executive Members get $1,250 off. The offer applies to hybrids, plug-in hybrids, and BEVs. What makes this deal sweet is that the Costco perk stacks with any other manufacturer incentives you qualify for.
Among the vehicles on the eligible list: The Volvo EX30, the EX90, the XC90*, the most requested premium midsize SUV among Costco members last year, and the Volvo C40 EV, which also topped requests in the premium electric compact SUV category.
To cash in on the offer, Costco members must register online for a certificate, then bring it to a Volvo dealership where they present it at the time of purchase. Full details are on the Certified by Volvo Limited-Time Special page.
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The GV90 is set to arrive as the most luxurious Genesis vehicle to date. With its debut approaching, Genesis is showcasing the ultra-luxe SUV at its new flagship brand space.
Genesis opens new brand space based on the GV90
Although it’s not yet in production form, Genesis is still showcasing its stunning new full-size electric SUV. The Neolun concept, unveiled last March at the New York Auto Show, will soon arrive as the brand’s new flagship model.
When Genesis launches the GV90, expected in mid-2026, it will become the brand’s largest and most luxurious electric vehicle yet.
According to Genesis, the GV90 is “an ultra-luxe, state-of-the-art SUV” that will take the luxury brand to the next level. We’ve seen camouflaged prototypes out testing a few times, revealing advanced new features and luxury design elements, such as coach doors, adaptive air suspension, and more.
The GV90, or Neolun concept (for now, at least), is the centerpiece of the company’s new “Night in Motion” space, which Genesis opened on Thursday.
Based on the Neolun concept, the new exhibition is “the starting point of the Genesis brand’s spatial philosophy.” It’s designed to showcase the brand’s latest design and the beauty of Korean aesthetics.
Genesis is expected to launch the GV90 in mid-2026, but we could see an official debut before the end of the year.
We will learn prices, range, and other specs soon, but the GV90 is expected to debut on Hyundai’s new eM platform. Hyundai claimed the new platform will “provide 50% improvement in driving range” compared to current EVs. It will also offer advanced Level 3 autonomous driving features.
One thing is sure: The Genesis GV90 won’t be cheap. As its largest and most luxurious SUV, the GV90 is expected to start at around $100,000. Higher trim levels could reach upwards of $120,000 or more.
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