Lucid cuts production target in half – Fisker sees itself on course

new York In after-hours trading, Lucid shares lost almost 13 percent on Thursday night. The US manufacturer of luxury electric cars had previously halved its production target.

Lucid is now only planning sales of 6,000 to 7,000 vehicles for 2022. It’s the second target reduction: Originally, Lucid wanted to produce 20,000 vehicles this year.

As the Newark, California-based start-up announced, it produced just 1,405 cars in the first half of the year. Lucid cited supply chain problems as the reason. In view of the modest production figure, even the new target for the full year seems ambitious.

CEO Peter Rawlinson said: “Our revised production forecast reflects the extraordinary challenges in the supply chain and logistics that we have encountered.” We have already reacted, “identified the most important bottlenecks” and taken appropriate measures, including the restructuring of logistics.