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 12,000–14,000 vehicles. It was another disappointing turn for the EV maker, which is strongly angling to capture some of Tesla’s market share with its ultra-premium, ultra-long-range Lucid Air sedan. Last quarter, Lucid announced a 10 percent price increase for the single model it has in production.