Lucid looks set to fall short of its goal of building 10,000 vehicles this year
The Lucid Air is an exceptional car, made all the more impressive by the fact that it was brought to life by a company that’s still in its infancy. For as good as the Air is, the company’s growing pains have continued through the third quarter with a sizeable drop in production and no explanation as to why. Figures released by Lucid reveal that it produced a total of 1,550 vehicles during the third quarter of this year and an additional 700 that are bound for final assembly in Saudi Arabia.
More: Rivian Reportedly Losing $33,000 Per EV, Wants To Slash Costs By $40,000 Whatever the reason may be, the news has spooked investors, prompting a drop in Lucid’s share price by up to 7.2%. Bloomberg notes the car manufacturer’s shares are down 25% this year. This isn’t just because of the limited number of Lucid Airs being produced but also because of how much money the firm is losing on every single one that it sells.
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