Lucid's having a very good year. It delivered its first Air EVs to customers, navigated a successful initial public offering and locked in a Tesla-beating range rating from the EPA. More good news: The startup reported over 17,000 reservations for the Air electric sedan in its third-quarter earnings release this week.
Back in September, the budding EV maker reported over 13,000 reservations, but as of Nov. 15, Lucid said the figure is now 17,000-plus. It's never a bad thing to see interest grow for a company that's never built a car before. While Lucid builds its first vehicles and continues delivery of the Air EV, it's still quite busy expanding.
The company's sole factory in Case Grande, Arizona, remains under construction. The next big project is Phase 2 construction to add 2.85 million square feet to the plant, financed by the $4.8 billion cash the company has on hand following its IPO. When it's complete, Lucid said it will have the ability to build 90,000 cars per year. They won't all be Air sedans, though. The startup's also focused on bringing to life its next car: the Gravity electric SUV.
Lucid will continue delivering the Air in Dream Edition trimmings before it turns its focus to other trims.