Enlarge / Lucid has dropped the Air’s drag coefficient to just 0.197, making it the most aerodynamic car on sale. (credit: Jonathan Gitlin)

When we saw our first Lucid Air prototype in 2017, we came away extremely impressed. This alpha build appeared far more realized than some prototypes, complete with functioning infotainment software as opposed to the pre-rendered demos that are often more common in such cases. But the startup automaker has had anything but an easy time since then. Yesterday, it announced its Q4 2023 deliveries ahead of an investor call in late February, and the numbers are bad.

Lucid originally planned to launch the Air sedan in 2019. Designed by Tesla’s former VP and Chief Vehicle Engineer Peter Rawlinson, together with designer Derek Jenkins, the Air aimed for Mercedes-Benz S-Class levels of space and luxury on the interior but with the footprint of the smaller Mercedes E-Class. Under its ultra-low-drag body was a highly advanced electric vehicle powertrain capable of extremely rapid acceleration, a high top speed, and class-leading range.

But starting a new car company is neither easy nor cheap. Lucid struggled to obtain funding until Saudi Arabia’s sovereign wealth fund invested a billion dollars in the company in 2018, allowing Lucid to complete work on its factory in Arizona and push on with developing the Air.