Lucid shares drop as EV maker misses 2023 delivery expectations

Luxury electric vehicle maker Lucid Motors missed Wall Street estimates for fourth-quarter and full-year 2022 revenue, as well as 2023 production and delivery goals, causing the company’s stock price to tumble almost 10% in after-hours trading.
That’s a particularly rough outcome for a company that’s been battling supply chain issues and has had to slash production targets in the past. Lucid had just been on the up after producing 7,180 vehicles last year, exceeding its own production guidance of 6,000 to 7,000 vehicles. Of those vehicles, 4,369 were delivered in 2022. When t

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