Lucid Cuts 2022 Production Forecast Once Again To 6,000-7,000 EVs via insideevs.com
Lucid Group has slashed its production forecast in half for this year, estimating it will manufacture between 6,000 and 7,000 Air electric sedans after a difficult second quarter caused by supply-chain issues.
. Now, the company has cut that revised production forecast in half, with CEO Peter Rawlinson blaming the""Our revised production guidance reflects the extraordinary supply chain and logistics challenges we encountered. We've identified the primary bottlenecks, and we are taking appropriate measures – bringing our logistics operations in-house, adding key hires to the executive team, and restructuring our logistics and manufacturing organization.
The production numbers are far from impressive considering the 37,000 reservations Lucid claims it has. Still, we have to remember that Lucid's only product at the moment is the Air luxury sedan which starts just under $90,000 for the Pure trim and can cost as much as $180,000 for theLucid also said it ended the quarter with $4.6 billion in cash, cash equivalents and investments, which is expected to fund the company"well into 2023." The company's Q2 revenue was just $97.
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