Lucid Air
Courtesy: Lucid Motors
Lucid’s group is slashing its car production forecast for this year by as much as 40%, sending shares of the electric-vehicle startup down 13% in after-hours trading.
On Monday, the company cited supply chain constraints that caused production to drop to between 12,000 and 14,000 vehicles, down from its initial expectation of 20,000 vehicles.
“This reflects the unusual logistics and supply chain challenges we have faced and our unwavering focus on delivering the highest quality products,” said Lucid CEO. Peter Rawlinson said in a statement. “We remain confident in our ability to capture the enormous opportunities ahead given our technology leadership and strong automotive demand.”
This is an evolving story. Check again for updates.
