In an aerial view, a sign is posted on the exterior of Lucid headquarters on March 29, 2023 in Newark, California. Electric vehicle maker Lucid announced plans to lay off 1,300 workers, 18 percent of its workforce, as part of a restructuring plan. Justin Sullivan | Getty ImagesLuxury electric vehicle maker Lucid Group on Monday reported widening first-quarter losses, but said that it still has enough cash to continue operations into next year.Shares were down over 8% in after-hours trading following the news.”We are on track to produce over 10,000 vehicles in 2023, with company-wide initiatives ongoing that will enable Lucid to pivot to higher volumes as market conditions allow,” CEO Peter Rawlinson said on Monday. Lucid guided to 2023 production of between 10,000 and 14,000 vehicles in February.Here are the key numbers from Lucid’s first-quarter earnings report, along with Wall Street’s consensus estimates as reported by Refinitiv:Loss per share: 43 centsRevenue: $149.4 million, versus revenue of $209.9 million expected.Analysts polled by Refinitiv expected a per share loss of 41 cents, but it wasn’t immediately clear whether reported results were comparable to those estimates.Lucid’s first-quarter net loss was $779.5 million, or 43 cents per share, much wider than the net loss of $81.3 million, or 5 cents per share, it reported in the first quarter of 2022, when it was still ramping up production of the Air. Revenue, however, jumped year over year to $149.4 million from $57.7 million.Lucid ended the first quarter with about $3.4 billion in cash and about $700 million in available credit lines. Finance chief Sherry House said cash should be sufficient to fund the company at least until the second quarter of 2024.The EV maker had about $4.4 billion in cash and an additional $500 million in credit available as of the end of 2022.Lucid has recently been moving to conserve cash. It said in March that it would cut about 18% of its workforce, roughly 1,300 workers, in a bid to lower spending.The company is still battening down demand concerns.The automaker’s expected 2023 production of …

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