EV-maker Lucid expects to raise $1.67 bln from stock sale
Cash-strapped electric vehicle maker Lucid said on Thursday a public offering of more than 262 million shares would likely fetch it $1.67 billion in proceeds.
EV-maker Lucid Group's shares drop following operational losses
California-based Lucid Group's shares price dropped by 10% during after-hours trading Wednesday after announcing larger-than-expected operational losses during the third quarter.
Lucid Shares Drops on Stock Sale, Loss Warning
Lucid shares sank after the electric-vehicle maker said it would shore up its finances by issuing new stock and warned of a larger-than-expected loss. The carmaker plans to sell more than 260 million shares in a public offering,
Lucid Group Shares Fall 12% on Wider Loss Guidance, Lower EV Deliveries
Shares of Lucid Group dropped 12% to $2.89 in postmarket trading after the company guided for significantly wider losses in the third quarter. The Newark, Calif.-based electric vehicle manufacturer said Wednesday it expects third-quarter losses of $765 million to $790 million from reported losses of $630.
Lucid Stock Tumbles 15%. EV Maker Plans Huge Shares Sale, Sees Bigger Losses.
The company said it plans a substantial public offering and projected a larger-than-expected loss for the third quarter.
Lucid shares drop on 262M stock offering
Lucid Group (NASDAQ:LCID) plans to sell more than 262M new shares, according to a recent filing with the U.S. Securities and Exchange Commission. The offering will be conducted from time to time in one or more transactions.
Lucid sees bigger losses ahead, and its stock drops 12%
Shares of Lucid Group Inc. fall 12% in the extended session Wednesday after the EV maker called for larger-than-expected operational losses and quarterly revenue that would be slightly ahead of forecast.
GM to invest $625 million in joint venture to mine EV battery raw materials in U.S.
The deal is centered on the development, construction and operation of a lithium carbonite mining operation called Thacker ...
The Economist1h
Africa’s EV revolution has two wheels not four
Ethiopia, though, is an exception. With private cars unaffordable for most Africans, motorbikes and buses are the main form of transport for deliveries and taxi rides, with riders typically travelling ...
South Africa mulls tax rebates, subsidies to boost local EV industry
South Africa is considering introducing tax rebates or subsidies for consumers to boost buying of electric vehicles, ...
MIT Technology Review1d
Super-light materials that help suppress EV battery fires just got a big boost
The US Department of Energy has committed a $670.6 million loan to Aspen Aerogels for a new factory to produce materials that ...
Incentives Drive Up EV Sales In Third Quarter 2024 As Tesla Rebounds
With improving infrastructure, far more choices, and excellent deals to be had, Cox Automotive expects further growth in the ...
Automotive News5h
Why plug-in hybrids are failing to win over EV-hesitant consumers
Automakers' hopes of easing the EV transition with plug-in hybrids may be falling short, according to a J.D. Power report.
Apple Secretly Worked With China’s BYD on Long-Range EV Battery
Apple Inc. worked with Chinese automaker BYD Co. for years as part of its now-canceled car project, developing long-range ...
China's EV giants shine at Europe's largest auto show while local rivals despair
Chinese automakers revealed new EVs at the Paris Motor Show, highlighting their technological edge over European rivals.
Treehouse uses AI to help electricians install tech like EV chargers and heat pumps more cheaply
Owski said the funding will go toward hiring more engineers to improve the models that help it automate quoting. It’s also ...
South Africa Weighs Subsidies, Rebates to Boost EV Industry
South Africa is considering introducing incentives to encourage local manufacturing of electric vehicles and offering tax ...
2024 GMC Hummer EV SUV Review: A Statement of Style, Not Efficiency
The 2024 GMC Hummer SUV is the most powerful factory vehicle the company has ever produced, and the biggest non-truck. The Hummer SUV EV eclipses even the original H1 in both length and width. The ...