EV startup Lucid has says it is on track to reaching its 2023 production target of more than 10,000 vehicles.

It reported Q2 2023 revenue of $150.9 million, with 1,404 vehicle deliveries.

Peter Rawlinson, Lucid’s CEO and CTO said: “During our second quarter, we achieved several major milestones, including signing agreements to enter into a long-term strategic partnership with Aston Martin.”

Earlier this year it was announced that Lucid would supply its EV powertrain technology to the British luxury automaker.

Lucid is expected to unveil its all-electric Gravity SUV in November this year and will launch in 2024. The event will be livestreamed, Mr Rawlinson said.

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By GlobalData

Sherry House, Lucid’s CFO said: “In the second quarter, we raised $3.0 billion in capital, including $1.8 billion from the PIF [Saudi Arabia’s Public Investment Fund], and I’m pleased to say that our current liquidity of $6.25 billion is expected to take us through the start of production for the Lucid Gravity, and into 2025.”

Additional announcements during Lucid’s Q2 2023 earnings call included the opening of its second factory in Saudi Arabia in September, which will be the first facility outside of the US.