(Reuters) -Luxury electric-vehicle maker Lucid Group said on Tuesday it delivered slightly more units in the third quarter than the preceding three months as a special price offer launched in August pulled in buyers.
Shares of the company fell more than 5% in premarket trading.
The carmaker produced 1,550 vehicles and delivered 1,457 units in the quarter ended Sept. 30, compared with the 2,173 vehicles it made and 1,404 delivered in the three months to June.
The company said more than 700 additional vehicles were in transit to its new plant in Saudi Arabia for final assembly.
Lucid had said in August it was on track to produce 10,000 vehicles this year. It would need to make about 4,000 cars in the fourth quarter to meet its target. The company also said it had enough cash to start producing its much-awaited sport utility vehicles next year and into 2025.
The company will report its quarterly results on Nov. 7 after markets close.
(Reporting by Jaspreet Singh and Akash Sriram in Bengaluru; Editing by Shilpi Majumdar)
