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.
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".