Lucid Hit by Supply Shortages Lowers Production Targets

If there’s one newcomer that holds promise for the electric luxury sector, it’s Lucid Motors. The Californian company, which already has the option of selling models in Europe, points to an international expansion in the coming months. Now the directive of the brand itself has reported that will reduce your production estimate of electric cars stipulated for 2022as they are no strangers to current component supply problems.

Lucid currently owns the investment made by various sectors of Saudi Arabia, which has given it significant economic support for the years to come; In the Middle Eastern country they will also carry out the construction of their second factory in which to assemble their luxury electric vehicles. Additionally, last April they received their largest order: 100,000 units of the Lucid Air for delivery in the next 10 years.

As you can see, its international and long-term projection is indisputable. However, the firm is aware of the current crisis in the supply of vital components in the manufacture of electric vehicles, so the board has made the decision to reduce production forecasts by 50 percent for 2022.

Initially, the company estimated a total circulation of between 12,000 and 14,000 electric cars for the entire current year. Now the firm expects to manufacture between 6,000 and 7,000 models in total. The first production estimates for this year came last February, when the shortage of supplies was not as pronounced as it is today. However, the figures that the brand was already considering at that time already represented a reduction in the estimate in September of last 2021, when they expected to reach 20,000 units produced in 2022.

In 2023 the company’s second model will arrive, the Lucid Gravity

The announcement of this production reduction by its management had a direct consequence on the brand’s actions, which reduced its price by 10 percent.

Lucid, according to official data, Today it has a total of 37,000 firm reservations for its, for now, only model: the Lucid Air. This figure has increased notably in recent months, since last March they had a total of 30,000 reservations. This, for the company, represents a total amount of 3,500 million dollars, a very relevant amount to be able to comply with the expansion plans and launch of new models, such as the Lucid Gravity, the electric SUV that will arrive in 2023.

Currently, many vehicle manufacturers have been forced to reduce their production estimates for this year, as well as for the next, due mainly to the shortage of essential components and the increase in the price of fundamental raw materials.

Last May, Peter Rawlinson already mentioned his concern about this probable inconvenience in the coming months, something that has ended up becoming an effective reality. During the same month, Lucid announced a significant increase in the final bill for all versions of the Lucid Air, which meant that many customers gave up their reservation already made.

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