Luxury EV startup Lucid Motors modified its yearly manufacturing goal once more, reducing it to an anticipated output of between 6,000 and seven,000 automobiles, the corporate introduced in the present day. That’s solely a fraction of the 20,000 automobiles that Lucid initially promised to ship in 2022. The Tesla competitor has solely produced 1,405 automobiles to date this 12 months, giving it a mere 4 months to construct hundreds of recent automobiles.
Supply chain woes and a scarcity of components and uncooked supplies are accountable for the sluggish output, the corporate claims. In a name with traders, the California-based firm’s CEO Peter Rawlinson stated it’s planning numerous structural modifications to amp up manufacturing. “Our revised manufacturing steerage displays the extraordinary provide chain and logistics challenges we encountered,” stated Rawlinson. “We’ve recognized the first bottlenecks, and we’re taking acceptable measures – bringing our logistics operations in-house, including key hires to the chief group, and restructuring our logistics and manufacturing group.”
On prime of ongoing manufacturing struggles, this May the corporate was pressured to recall all of its 2022 Air EVs resulting from wiring points — a complete of over 1,000 automobiles. Such challenges have not appeared to influence demand for the posh automobiles. So far, there have been 37,000 reservations for Lucid Motor’s all-electric sedan, the Lucid Air, the corporate disclosed within the name. On prime of that, Lucid plans to promote over 100,000 automobiles to the federal government of Saudi Arabia — which poured over $1 billion into the corporate and owns a 62 % stake.