Lucid<\/strong> confirmed that it’s still on track to build 20,000 vehicles<\/strong> next year.<\/p>\n Shares of electric vehicle maker Lucid<\/strong> Group (NASDAQ:LCID<\/strong>) were moving sharply higher on Tuesday, after the company reported third-quarter earnings and confirmed its production plans for next year.<\/p>\n As of 12:45 p.m. EST, Lucid’s shares were up about 17.7% from Monday’s closing price.<\/p>\n Lucid reported on Monday afternoon that it lost $524.4 million in the third quarter, or $0.43 per share, on revenue of $232,000 as it prepared to start production of its innovative Air luxury sedan<\/strong>.<\/p>\n Those numbers fell short of Wall Street’s expectations, as analysts polled by Thomson Reuters had expected a loss of $0.25 per share on revenue of $1.25 million. But electric vehicle investors didn’t seem concerned about the “miss,” in light of what was arguably much more important news: Lucid confirmed its plans to build about 20,000 vehicles next year.<\/p>\n <\/p>\nLucid stock rises after Lucid Air wins MotorTrend car of the year<\/h3>\n\n\n