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Lucid Motors will only build 9,000 EVs in 2024 after once predicting it would ship 90,000 | TechCrunch

TechCrunch · 1y

Electric vehicle manufacturer Lucid Motors is scaling back its production targets for 2024, planning to build just 9,000 vehicles, compared to the 90,000 it had predicted when going public three years ago. The company's financial results for 2023 revealed a loss of $2.8 billion and a struggle to find buyers for its luxury sedans. Lucid recently reduced the prices of its Air sedan by $8,000 and hopes to boost sales with the upcoming release of its Gravity SUV, which experienced delayed production due to supply chain issues.