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Lucid releases Q4 and FY 2022 earnings, posts conservative 2023 forecast

Lucid's first European retail location – the Lucid Studio at Odeonsplatz in Munich, Germany – is a luxury retail space that invites customers to experience the brand and its products in the heart of the iconic old town area. The company expects to open additional studios and service centers in Germany, the Netherlands, Norway, and Switzerland in 2022, and has the ambition to expand into additional key markets across the European continent in the coming years. (Credit: Tesla)

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Electric vehicle maker Lucid Motors has released its Q4 and FY 2022 earnings results. While Lucid highlighted that it was able to exceed its adjusted vehicle production goal last year, the company’s production guidance for 2023 was very conservative. 

Lucid Motors produced a total of 3,493 Air sedans during the fourth quarter at its Arizona factory. The company also delivered 1,932 vehicles in the same period. For the full year, Lucid produced 7,180 vehicles and delivered 4,369

Lucid’s fourth-quarter revenue stood at $257.7 million, while annual revenue was listed at $608.2 million. This allowed the electric car maker to end the fourth quarter with about $4.9 billion in total liquidity. Lucid noted that this amount is expected to fund the company at least into the first quarter of 2024. 

The luxury EV maker also noted that it has reservations of over 28,000 vehicles as of February 21, 2023. This represents potential sales of more than $2.7 billion. Lucid notes that these reservations do not include the up to 100,000 units that are under the agreement with the Saudi Arabia government. 

Lucid Motors CEO Peter Rawlinson was optimistic about the company in a statement about the Q4 and FY 2022 earnings results

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“Last year was a challenging year for everyone, yet despite the extraordinary supply chain and logistics challenges, the team persevered with an unrelenting focus on delivering what we believe is the best luxury sedan on the market. 

“Lucid Air has it all — industry-leading range, exceptional driving dynamics, and superior performance all wrapped up in a truly elegant design with a spacious interior cabin. But more importantly, the technological advances of Lucid Air are developed entirely in-house with the singular goal to advance the adoption of EVs around the world for future generations to come. Lucid Air is the quintessential luxury sedan, and our goal in 2023 is to amplify our sales and marketing efforts to get this amazing product into the hands of even more customers around the world,” Rawlinson said. 

Lucid Motors’ Q4 and FY 2022 results can be viewed below. 

Lucid Fourth Quarter and Full Year 2022 Financial Results by Maria Merano on Scribd

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Maria--aka "M"-- is an experienced writer and book editor. She's written about several topics including health, tech, and politics. As a book editor, she's worked with authors who write Sci-Fi, Romance, and Dark Fantasy. M loves hearing from TESLARATI readers. If you have any tips or article ideas, contact her at maria@teslarati.com or via X, @Writer_01001101.

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Cybertruck

Tesla begins Cybertruck deliveries in a new region for the first time

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Credit: @derek1ee | X

Tesla has initiated Cybertruck deliveries in a new region for the first time, as the all-electric pickup has officially made its way to the United Arab Emirates, marking the newest territory to receive the polarizing truck.

Tesla launched orders for the Cybertruck in the Middle East back in September 2025, just months after the company confirmed that it planned to launch the pickup in the region, which happened in April.

I took a Tesla Cybertruck weekend Demo Drive – Here’s what I learned

By early October, Tesla launched the Cybertruck configurator in the United Arab Emirates, Qatar, and Saudi Arabia, with pricing starting at around AED 404,900, or about $110,000 for the Dual Motor configuration.

This decision positioned the Gulf states as key early international markets, and Tesla was hoping to get the Cybertruck outside of North America for the first time, as it has still been tough to launch in other popular EV markets, like Europe and Asia.

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By late 2025, Tesla had pushed delivery timelines slightly and aimed for an early 2026 delivery launch in the Middle East. The first official customer deliveries started this month, and a notable handover event occurred in Dubai’s Al Marmoom desert area, featuring a light and fire show.

Around 63 Cybertrucks made their way to customers during the event:

As of this month, the Cybertruck still remains available for configuration on Tesla’s websites for the UAE, Saudi Arabia, Qatar, and other Middle Eastern countries like Jordan and Israel. Deliveries are rolling out progressively, with the UAE leading as the first to see hands-on customer events.

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In other markets, most notably Europe, there are still plenty of regulatory hurdles that Tesla is hoping to work through, but they may never be resolved. The issues come from the unique design features that conflict with the European Union’s (EU) stringent safety standards.

These standards include pedestrian protection regulations, which require vehicles to minimize injury risks in collisions. However, the Cybertruck features sharp edges and an ultra-hard stainless steel exoskeleton, and its rigid structure is seen as non-compliant with the EU’s list of preferred designs.

The vehicle’s gross weight is also above the 3.5-tonne threshold for standard vehicles, which has prompted Tesla to consider a more compact design. However, the company’s focus on autonomy and Robotaxi has likely pushed that out of the realm of possibility.

For now, Tesla will work with the governments that want it to succeed in their region, and the Middle East has been a great partner to the company with the launch of the Cybertruck.

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BREAKING: Tesla launches public Robotaxi rides in Austin with no Safety Monitor

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Tesla has officially launched public Robotaxi rides in Austin, Texas, without a Safety Monitor in the vehicle, marking the first time the company has removed anyone from the vehicle other than the rider.

The Safety Monitor has been present in Tesla Robotaxis in Austin since its launch last June, maintaining safety for passengers and other vehicles, and was placed in the passenger’s seat.

Tesla planned to remove the Safety Monitor at the end of 2025, but it was not quite ready to do so. Now, in January, riders are officially reporting that they are able to hail a ride from a Model Y Robotaxi without anyone in the vehicle:

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Tesla started testing this internally late last year and had several employees show that they were riding in the vehicle without anyone else there to intervene in case of an emergency.

Tesla has now expanded that program to the public. It is not active in the entire fleet, but there are a “few unsupervised vehicles mixed in with the broader robotaxi fleet with safety monitors,” Ashok Elluswamy said:

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Tesla Robotaxi goes driverless as Musk confirms Safety Monitor removal testing

The Robotaxi program also operates in the California Bay Area, where the fleet is much larger, but Safety Monitors are placed in the driver’s seat and utilize Full Self-Driving, so it is essentially the same as an Uber driver using a Tesla with FSD.

In Austin, the removal of Safety Monitors marks a substantial achievement for Tesla moving forward. Now that it has enough confidence to remove Safety Monitors from Robotaxis altogether, there are nearly unlimited options for the company in terms of expansion.

While it is hoping to launch the ride-hailing service in more cities across the U.S. this year, this is a much larger development than expansion, at least for now, as it is the first time it is performing driverless rides in Robotaxi anywhere in the world for the public to enjoy.

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Investor's Corner

Tesla Earnings Call: Top 5 questions investors are asking

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(Credit: Tesla)

Tesla has scheduled its Earnings Call for Q4 and Full Year 2025 for next Wednesday, January 28, at 5:30 p.m. EST, and investors are already preparing to get some answers from executives regarding a wide variety of topics.

The company accepts several questions from retail investors through the platform Say, which then allows shareholders to vote on the best questions.

Tesla does not answer anything regarding future product releases, but they are willing to shed light on current timelines, progress of certain projects, and other plans.

There are five questions that range over a variety of topics, including SpaceX, Full Self-Driving, Robotaxi, and Optimus, which are currently in the lead to be asked and potentially answered by Elon Musk and other Tesla executives:

SpaceX IPO is coming, CEO Elon Musk confirms

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  1. You once said: Loyalty deserves loyalty. Will long-term Tesla shareholders still be prioritized if SpaceX does an IPO?
    1. Our Take – With a lot of speculation regarding an incoming SpaceX IPO, Tesla investors, especially long-term ones, should be able to benefit from an early opportunity to purchase shares. This has been discussed endlessly over the past year, and we must be getting close to it.
  2. When is FSD going to be 100% unsupervised?
    1. Our Take – Musk said today that this is essentially a solved problem, and it could be available in the U.S. by the end of this year.
  3. What is the current bottleneck to increase Robotaxi deployment & personal use unsupervised FSD? The safety/performance of the most recent models or people to monitor robots, robotaxis, in-car, or remotely? Or something else?
    1. Our Take – The bottleneck seems to be based on data, which Musk said Tesla needs 10 billion miles of data to achieve unsupervised FSD. Once that happens, regulatory issues will be what hold things up from moving forward.
  4. Regarding Optimus, could you share the current number of units deployed in Tesla factories and actively performing production tasks? What specific roles or operations are they handling, and how has their integration impacted factory efficiency or output?
    1. Our Take – Optimus is going to have a larger role in factories moving forward, and later this year, they will have larger responsibilities.
  5. Can you please tie purchased FSD to our owner accounts vs. locked to the car? This will help us enjoy it in any Tesla we drive/buy and reward us for hanging in so long, some of us since 2017.
    1. Our Take – This is a good one and should get us some additional information on the FSD transfer plans and Subscription-only model that Tesla will adopt soon.

Tesla will have its Earnings Call on Wednesday, January 28.

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