- Lucid Motors launched their “Air” EV sedan this year to substantial fanfare.
- However, production issues hitting the whole industry have forced the startup to pull back its output projections.
- So far this year, Lucid has built just over 1,400 cars.
- The Lucid Air has 37,000 outstanding reservations, according to a recent call with investors.
Supply chain woes continue to hit the whole automotive industry, including Lucid Motors.
It feels like saying “it’s been a rough year” for the industry and customers hardly cuts it at this point — especially when there’s news of this nature. Luxury EV manufacturer Lucid Motors once again dialed back its production target again, after already cutting its outlook from 20,000 vehicles to 12,000-14,000 earlier this year. Now, the company announced in a Thursday earnings call that it would instead aim for between 6,000 and 7,000 vehicles.
That’s unwelcome news for the claimed 37,000 reservation holders waiting for Lucid’s brand new electric sedan, the Air. So far in 2022, the company’s Arizona plant has produced just 1,405 vehicles for awaiting customers.
Engadget reports CEO Peter Rawlinson’s comments on the matter, which cite ongoing supply chain constraints. “Our production guidance reflects the extraordinary supply chain and logistics challenges we encountered,” he said. “We’ve identified the primary bottlenecks, and are taking appropriate measures — bringing our logistics operations in-house, adding key hires to the executive team, and restructuring our logistics and manufacturing organization.”
Slashing its forecast comes as Lucid faces extra challenges, on top of supply issues. The company had to recall more than 1,000 cars in May (most of the cars it built so far) to address wiring issues. Lucid further plans to sell more than 100,000 cars to Saudi Arabia’s government. Currently, the Saudi government has a 62% ($1 billion) stake in the electric automaker.
