Lucid Motors slashes EV production targets again as supply chain problems persist

EV automaker Lucid Motors on Wednesday slashed its annual production guidance in half due to what CEO Peter Rawlinson described as “extraordinary supply chain and logistics challenges.”
Shares of Lucid fell more than 12% in after-market trading following the release of its second-quarter earnings, in which it provided the production guidance.
Lucid lowered its production guidance from 12,000 to 14,000 vehicles to 6,000 and 7,000 vehicles for the year. That’s a just quarter of the 20,000 luxury Air sedans the company initially planned to produce n 2022. In February, Lucid adju

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