Lucid Motors reported its first-quarter earnings, revealing mixed results. The company beat revenue estimates with $172 million compared to the expected $159 million but faced a larger-than-expected EBITDA loss of $598 million against forecasts of $505 million. Additionally, Lucid reported a GAAP EPS of -$0.30, missing estimates by $0.05, and a free cash flow of -$715 million, which was better than the anticipated -$793 million. Despite these financial setbacks, Lucid confirmed that its production guidance remains on track with an expectation to produce 9,000 vehicles in 2024. The company also reaffirmed the launch of its Gravity SUV by late 2024. However, Lucid's stock price declined by 7.5% in after-hours trading due to these results. The revenue of $172 million also missed the higher estimates of $182 million by $9.74 million, and the stock price was down 6.5% at one point. Additionally, price cuts in its luxury EV sedans helped boost sales.