Lucid Group's GAAP loss for 3 months of 2022 was $81.286 million, down 9.2 times from $747.952 million in the previous year. Revenue increased multiple times to $57.675 million from $0.313 million a year earlier.

Lucid Group will deliver 50,000 of its electric cars to Air Saudi Arabia over 10 years. In addition, the country will have the opportunity to buy an additional 50,000 vehicles during the same period. The first deliveries will start in 2023.

Lucid plans to launch sales of the Air electric car in Europe in June-July 2022, according to Autocar. In the U.K., order intake may open in the last quarter of 2022, and first deliveries will begin in early 2023. In addition, the company is going to enter the Chinese market in 2023.

Lucid Group's GAAP loss for 2021 was $2.58 billion, up 3.6 times from $0.719 billion the previous year. Revenue increased 6.8 times to $27.111 billion from $3.976 billion a year earlier.