Shares of Lucid Group Inc slumped 10 per cent in premarket trading on Thursday after the electric vehicle maker's 2023 production targets fell short of expectations amid waning demand and a price war unleashed by market leader Tesla Inc.Lucid expects to produce 10,000 to 14,000 luxury electric vehicles th
Shares of Lucid Group Inc slumped 10 per cent in premarket trading on Thursday after the electric vehicle maker's 2023 production targets fell short of expectations amid waning demand and a price war unleashed by market leader Tesla Inc.
It also reported a sharp fall in fourth-quarter orders as the company battles supply-chain snags and soaring inflation that has dampened demand.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Australia's Domino's Pizza shares crash as profit slumps on price hikes:Australia's Domino's Pizza Enterprises reported a 28.3 per cent fall in first-half profit on Wednesday, hurt by a drop in orders as price rises due to inflation hit consumer spending, sending its shares 24.3 per cent lower in their biggest-ever drop.The Australian franchise of the global pizza chain's profit
Read more »
Priyanka Chopra shares a stunning selfie featuring her natural curly hair texturePriyanka Chopra shares a selfie wearing her hair in their natural texture curls. She poses alongside her and Nick Jonas' baby daughter, Malti Marie.
Read more »
Comcast takes advantage of AI rally to sell more BuzzFeed sharesComcast Corp has cut its stake in BuzzFeed Inc by 8.5 per cent since the end of January, cashing in on a rally in the shares of the digital media company on reports of a plan to partner with OpenAI, the artificial intelligence firm behind ChatGPT. A regulatory filing by Comcast on Tuesday showed in the p
Read more »
Palo Alto Networks sees strong year on solid demand for cybersecurity:Palo Alto Networks Inc raised its full-year profit forecast on Tuesday as spending on cyber-security products stays strong in the face of a turbulent economy, sending the company's shares up about 5.5 per cent in trading after the bell.A rise in cyberattacks and the growing digital presence of businesses and
Read more »
Merck's Covid pill fails to prevent infection among household membersMerck & Co Inc said on Tuesday (Feb 21) its Covid-19 pill was not effective at cutting the risk of coronavirus infections in people living with someone infected with the virus. The results were similar to data from rival Pfizer Inc, whose Covid pill Paxlovid also failed to prevent infections among household contacts. The two antiviral drugs are approved as...
Read more »
Luminar, Mercedes-Benz expand deal for self-driving techSelf-driving sensor maker Luminar Technologies Inc announced an expanded partnership with Mercedes-Benz Group on Wednesday to enable fully automated driving for its next-generation vehicles. Automakers from Tesla Inc to General Motors are focusing on autonomous vehicles, but technological and regulatory h
Read more »