Lucid Struggles to Meet Production Targets Amid Slowing EV Demand
- Lucid's Q3 production dropped 30% from last quarter to 1,550 vehicles
- Deliveries were flat, rising less than 4% to 1,457 vehicles despite discounts
- Lucid needs to produce 4,000 vehicles in Q4 to meet 2022 target of 10,000
- Demand concerns as discounts haven't driven sales amid broader EV slowdown
- Share price dropped over 3.5% on disappointing production and demand outlook
/cloudfront-us-east-2.images.arcpublishing.com/reuters/HDFFCO64GNMRNO2BP4QX56CUCA.jpg)