Posted 2/21/2024, 11:16:04 PM
Lucid Slashes 2024 Production Target to 9,000 EVs Amid Struggling Demand and Financial Losses
- Lucid Motors now expects to build only 9,000 EVs in 2024, far below its earlier prediction of 90,000
- The 2024 projection shows Lucid struggling with demand and losing money on every EV built
- Lucid recently cut prices on its Air sedan and is counting on its new Gravity SUV to boost sales
- Production problems and supply chain issues caused delays in the Air sedan and Gravity launches
- Lucid is seeking new revenue through technology licensing deals and a contract to sell up to 100,000 EVs to Saudi Arabia