Tesla CEO Elon Musk Roasts Lucid Over Mounting Losses: 'Maybe They Can Make It Up In Volume'

Tesla Inc TSLA CEO Elon Musk on Wednesday took yet another dig at luxury EV maker Lucid Group Inc after it reported its third-quarter earnings.

What Happened: Lucid reported a quarterly loss of 28 cents per share and revenue of 137.8 million on Tuesday. The company delivered 1,457 vehicles in the quarter and made 1,550.

Following the results, a Tesla investor took to X, formerly Twitter, to note that Lucid lost $433,081 for every vehicle that they delivered in the last quarter. Musk responded to the tweet with a snide, “Maybe they can make it up in volume.”

The comment comes in light of a production guidance cut from Lucid. The company is now looking to make only 8000-8500 vehicles for the whole year in a bid to align production with delivery numbers. It was previously eyeing production of over 10,000 vehicles. Only last month Musk noted that Lucid is undergoing both production and sales ‘hell.’

Furthermore, Lucid vehicles are expensive with the company’s flagship Lucid Air sedan starting at $82,400 for its least expensive variant, reducing the consumer base it appeals to. The higher end Grand Touring version of the sedan starts from $125,600.

Why It Matters: This is not the first time Musk has taken a dig at Lucid. Only earlier this week, Musk reacted to Lucid joining Tesla’s supercharger network with a laughing, "That must have been a bitter pill to swallow," 

In September, Musk also issued a word of caution over Lucid CEO Peter Rawlinson‘s compensation which touched about $379 million in 2022. “Beware any company where leadership compensation is not linked to performance,” Musk then said. Rawlinson was formerly the chief engineer for Tesla‘s Model S.

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