{"id":11595,"date":"2022-08-04T15:12:28","date_gmt":"2022-08-04T15:12:28","guid":{"rendered":"https:\/\/scienceandnerds.com\/2022\/08\/04\/lucid-motors-will-barely-make-any-evs-this-year-as-it-slashes-production-goals-again\/"},"modified":"2022-08-04T15:12:29","modified_gmt":"2022-08-04T15:12:29","slug":"lucid-motors-will-barely-make-any-evs-this-year-as-it-slashes-production-goals-again","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2022\/08\/04\/lucid-motors-will-barely-make-any-evs-this-year-as-it-slashes-production-goals-again\/","title":{"rendered":"Lucid Motors will barely make any EVs this year as it slashes production goals again"},"content":{"rendered":"<p>Source: <a href=\"https:\/\/www.theverge.com\/2022\/8\/3\/23291120\/lucid-motors-q2-2022-earnings-ev-air-production-slashed\">https:\/\/www.theverge.com\/2022\/8\/3\/23291120\/lucid-motors-q2-2022-earnings-ev-air-production-slashed<\/a><br \/>\n<code><br \/><\/br><\/code><\/p>\n<div readability=\"85.950946643718\">\n<p id=\"04fHqX\">Luxury electric vehicle maker Lucid Motors is slashing its production forecast for 2022 for <a href=\"https:\/\/www.theverge.com\/2022\/2\/28\/22955518\/lucid-motors-q4-2021-earnings-ev-air-deliveries\">the second time this year<\/a>. The Newark, California-based company <a href=\"https:\/\/ir.lucidmotors.com\/news-releases\/news-release-details\/lucid-announces-second-quarter-2022-financial-results-reports\">announced<\/a> it was revising its production expectations to between 6,000 and 7,000 vehicles.<\/p>\n<p id=\"NzFTme\">Lucid originally said it would make 20,000 vehicles in 2022, but that number was revised in February to 12,000\u201314,000 vehicles. It was another disappointing turn for the EV maker, which is strongly angling to capture some of Tesla\u2019s market share with its ultra-premium, <a href=\"https:\/\/www.theverge.com\/2021\/9\/16\/22675936\/lucid-motors-air-range-epa-rating-tesla\">ultra-long-range Lucid Air sedan<\/a>. Last quarter, Lucid announced a <a href=\"https:\/\/www.theverge.com\/2022\/5\/6\/23059976\/lucid-motor-ev-price-increase-q1-2022-earnings\">10 percent price increase<\/a> for the single model it has in production. <\/p>\n<div class=\"c-float-right\">\n<aside id=\"YFLaYc\"><q>\u201cWe\u2019ve identified the primary bottlenecks\u201d<\/q><\/aside>\n<\/div>\n<p id=\"Nb2Be8\">\u201cOur revised production guidance reflects the extraordinary supply chain and logistics challenges we encountered,\u201d said Peter Rawlinson, Lucid\u2019s CEO and CTO, in a statement. \u201cWe\u2019ve identified the primary bottlenecks, and we are taking appropriate measures \u2013 bringing our logistics operations in-house, adding key hires to the executive team, and restructuring our logistics and manufacturing organization. We continue to see strong demand for our vehicles, with over 37,000 customer reservations, and I remain confident that we shall overcome these near-term challenges.\u201d<\/p>\n<p id=\"uWJe4H\">Lucid released its second quarter earnings Wednesday, reporting a $220 million loss on revenue of $97.3 million. The company said it only delivered 679 vehicles to customers over the past three months. Overall, Lucid said it lost $4.8 billion in 2021. The company went public through a merger with a special purpose acquisition company, or SPAC, last summer.<\/p>\n<p id=\"TjOmEj\">Lucid also said the number of reservations for its luxury Lucid Air sedan now exceeded 37,000, reflecting $3.5 billion in potential sales. The company had previously said it had received 24,000 reservations.<\/p>\n<p id=\"vyhKoh\">Lucid previously delayed the launch of its Gravity SUV until the first half of 2024 in order to ensure the best possible production process. The company is entering what is arguably one of the most competitive segments of the EV market, crowded with the likes of the <a href=\"https:\/\/www.theverge.com\/2021\/2\/9\/22274376\/audi-etron-gt-rs-electric-car-specs-price\">Audi E-tron<\/a> and E-tron GT, <a href=\"https:\/\/www.theverge.com\/2016\/11\/14\/13628872\/jaguar-ipace-concept-electric-car-suv-unveiled-la-auto-show-2016-photos\">Jaguar I-Pace<\/a>, <a href=\"https:\/\/www.theverge.com\/21365032\/polestar-2-hands-on-first-drive-electric-android-automotive-photos-range\">Polestar 2<\/a>, <a href=\"https:\/\/www.theverge.com\/2019\/11\/27\/20983836\/porsche-taycan-turbo-electric-car-first-drive-hands-on-photos-video-range\">Porsche Taycan<\/a>, <a href=\"https:\/\/www.theverge.com\/2021\/4\/11\/22375877\/mercedes-benz-eqs-ev-s-class-specs-hands-on\">Mercedes-Benz EQS<\/a>, <a href=\"https:\/\/www.theverge.com\/2020\/8\/6\/21357717\/cadillac-lyriq-gm-ev-suv-touchscreen-size-specs-release-date\">Cadillac Lyriq<\/a>, <a href=\"https:\/\/www.theverge.com\/2021\/3\/17\/22335807\/bmw-i4-sedan-ev-m-performance-range-photos\">BMW i4<\/a>, <a href=\"https:\/\/www.theverge.com\/2021\/3\/30\/22357789\/lexus-lf-z-electrified-concept-car-ev-toyota-electric\">Lexus LF-Z<\/a>, and Tesla <a href=\"https:\/\/www.theverge.com\/2021\/6\/11\/22528963\/tesla-model-s-plaid-ev-price-specs-range-speed\">Model S Plaid<\/a>, which started rolling out to customers last year.<\/p>\n<\/div>\n<p><code><br \/><\/br><\/code><\/p>\n<p>Source: <a href=\"https:\/\/www.theverge.com\/2022\/8\/3\/23291120\/lucid-motors-q2-2022-earnings-ev-air-production-slashed\">https:\/\/www.theverge.com\/2022\/8\/3\/23291120\/lucid-motors-q2-2022-earnings-ev-air-production-slashed<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: Luxury electric vehicle maker Lucid Motors is slashing its production forecast for 2022 for the second time this year. The Newark, California-based company announced it was revising its production expectations to between 6,000 and 7,000 vehicles. Lucid originally said it would make 20,000 vehicles in 2022, but that number was revised in February to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11596,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[17,8],"tags":[18],"class_list":["post-11595","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech","category-technology","tag-tech"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Lucid Motors will barely make any EVs this year as it slashes production goals again - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2022\/08\/04\/lucid-motors-will-barely-make-any-evs-this-year-as-it-slashes-production-goals-again\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lucid Motors will barely make any EVs this year as it slashes production goals again - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source: Luxury electric vehicle maker Lucid Motors is slashing its production forecast for 2022 for the second time this year. 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Lucid originally said it would make 20,000 vehicles in 2022, but that number was revised in February to [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/scienceandnerds.com\/2022\/08\/04\/lucid-motors-will-barely-make-any-evs-this-year-as-it-slashes-production-goals-again\/\" \/>\n<meta property=\"og:site_name\" content=\"Science and Nerds\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-04T15:12:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-08-04T15:12:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/scienceandnerds.com\/wp-content\/uploads\/2022\/08\/lucid-motors-will-barely-make-any-evs-this-year-as-it-slashes-production-goals-again_62ebe1dca0a68.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/scienceandnerds.com\/2022\/08\/04\/lucid-motors-will-barely-make-any-evs-this-year-as-it-slashes-production-goals-again\/\",\"url\":\"https:\/\/scienceandnerds.com\/2022\/08\/04\/lucid-motors-will-barely-make-any-evs-this-year-as-it-slashes-production-goals-again\/\",\"name\":\"Lucid Motors will barely make any EVs this year as it slashes production goals again - 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