#QuarterlyReport

Lucid Group’s report for the first quarter of 2023 was off the mark, with the automaker suffering a $780-million net loss. While any burgeoning carmaker should expect to burn through cash for a while, electric-vehicle firms seem broadly dedicated to the practice. Many EV startups have floundered and some have even bordered on shell games, promising things they shouldn’t in the hopes to draw in more investment capital. However, Lucid has seemed committed to delivering enviable products — making the financial report genuinely disappointing.