Production and deliveries decline slightly for Lucid
The US manufacturer Lucid Motors produced 2,173 electric cars and delivered 1,404 EVs in the second quarter. Thus, production and deliveries were slightly below the first quarter. However, the (lowered) annual target still seems within reach.
Already in Q1, the 2,314 vehicles produced and 1,406 delivered represented a decline compared to Q4/2022. While it was a significant decline then, it is a relatively slight one in Q2: between April and June, 141 fewer Lucid EVs were built, and only two fewer units were delivered. However, the company has yet to achieve a turnaround.
Lucid already lowered its production forecast for 2023 from 10,000 to 14,000 vehicles previously to “more than 10,000.” But Lucid needs to turn the trend around to get to five-figure annual production. After two quarters, 4,487 cars have been built. That means at least 5,513 units must leave the plant in Casa Grande, Arizona, in the second half of the year.
This increase in production seems feasible, considering that 3,493 Lucid Air were built in Q4/2022 alone. In 2022, Lucid produced 7,180 of its electric luxury saloons – 10,000 units was thus equivalent to 39 per cent growth.
Lucid does not explain why production numbers keep dropping. Instead, the company refers to the conference call to present the financial results for the second quarter, scheduled for 7 August.
The first units of the Air were delivered in Switzerland shortly before the end of the quarter. According to reports from mid-June, the company is also preparing a market launch in China, but this still needs to be confirmed.
Lucid mentions one more interesting point in its short press release. It has started “material shipments to the Kingdom of Saudi Arabia.” The company is planning an EV factory in the King Abdullah Economic City (KAEC), which will reportedly be designed for a maximum annual production capacity of 150,000 vehicles. Lucid won a major contract from the Saudi government in April 2022. The Saudi sovereign wealth fund PIF also participated in a billion-dollar equity issue this June.
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