Lucid Motors sets record as Gravity sales pick up and tax credit expires

Lucid Motors, an electric vehicle (EV) manufacturer, has set a new record with its recent sales figures. Despite being far from its initial ambitious goals, the company has witnessed a steady increase in EV deliveries for the past seven quarters. The article highlights that Lucid's Gravity model, a luxury SUV, has seen a surge in sales as the company's tax credit for its vehicles is set to expire. This tax credit has been a significant factor in driving customer demand for Lucid's EVs. The article also notes that while Lucid's sales have been on the rise, the company is still significantly behind its initial projections made when it went public in 2021. This suggests that the EV market remains highly competitive, and Lucid is facing challenges in meeting its ambitious targets. Overall, the article provides an update on Lucid Motors' recent performance, with a focus on the company's sales figures and the impact of the expiring tax credit on its Gravity model.