Article

2023-11-12 Economy

Luxury EV Manufacturer Loses $227,000 On Each Car It Sells

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Posted by Besoeker 2023-11-12 05:46|| || Front Page|| [11131 views ] Top

#1 Money laundering operation.

Posted by EMS Artifact 2023-11-12 08:53|| 2023-11-12 08:53|| Front Page Top

#2 Biden admin roasted for offering to pay Americans to send videos of their electric vehicles: 'Beyond parody'

"'This is what desperation looks like,' one expert said"

Posted by Skidmark 2023-11-12 10:45|| 2023-11-12 10:45|| Front Page Top

#3 Saudi Arabia's bet on Lucid Motors, an EV startup widely viewed as a competitor to Tesla, has yet to show a big payoff.
Shortly after the electric motor company went public in 2021, the Saudi's 60% ownership stake in Lucid through the Public Investment Fund (PIF) was valued at more than $55 billion, Bloomberg's opinion columnist Chris Bryant wrote.
According to Bryant's report, that stake is now worth $5.4 billion — about a 90.2% decrease.
The steep drop in the value of Saudi's stake coincides with Lucid's latest quarterly earnings.
This week, the company reported a $630.9 million net loss while showing a -207.74% gross margin. That margin means the cost of making Lucid's luxury electric vehicles exceeds the number of cars the company sells.

Posted by Jerens Black9355 2023-11-12 11:05|| 2023-11-12 11:05|| Front Page Top

#4 I realize that the money is gone (Like the Bitcoin thing.)
Who did the money go to?

Posted by ed in texas 2023-11-12 11:11|| 2023-11-12 11:11|| Front Page Top

#5 "We lose a fortune on every one we sell, but make up for it in volume"

Posted by Frank G 2023-11-12 11:21|| 2023-11-12 11:21|| Front Page Top

#6 Volume discounts for two or more. Think of the money you'll save.

Posted by Besoeker 2023-11-12 12:35|| 2023-11-12 12:35|| Front Page Top

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