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Lucid Motors cuts production plan for 2022 again

The company has halved its production plan for 2022

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An editor at eMobilCar


  • 2 min read
Lucid
(Source: electrive.net)
Lucid
(Source: electrive.net)

The Lucid writes in the annual report for the second quarter. This is justified by "extreme problems in the supply chain and logistics". Even the range of 12,000 to 14,000 vehicles is below Lucid Air's original plans of 20,000 this year. Exactly the same justification was given when adjusting the production task in March.

To reach the range of 6,000 to 7,000 vehicles, the company must increase production significantly in the remaining months of this year: Lucid produced 1,405 vehicles in the first half of the year, according to a quarterly report.

Pre-orders for Lucid Air currently exceed 37,000. Even if Lucid can build 7,000 vehicles this year, more than two-thirds of pre-orders are still open.

We identified key bottlenecks and took action accordingly: we organized our own logistics, added key people to the management team, and restructured our logistics and manufacturing organization. With over 37,000 customer bookings, we continue to see strong demand for our vehicles and I am confident that we will meet these immediate challenges

In the second quarter, Lucid's revenue was $97.3 million. CFO Sherry House said Lucid has $4.6 billion in cash, which she says is enough "to fund the company through 2023".

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