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Lucid EV manufacturing on observe to fulfill 2022 steerage

Electrical automobile start-up Lucid on Sept. 28, 2021 mentioned manufacturing of its first automobiles for purchasers has began at its manufacturing unit in in Casa Grande, Arizona.


Electrical luxurious automobile maker Lucid Group confirmed on Wednesday that it stays on observe to provide between 6,000 and seven,000 automobiles in 2022, in step with the extra conservative steerage it supplied to buyers in August.

Lucid’s shares opened over 5% greater following the information.

Lucid mentioned in a press release that it produced 2,282 automobiles at its Arizona manufacturing unit within the third quarter. It delivered 1,398 automobiles to prospects throughout the identical interval.  

Lucid has twice lower its manufacturing steerage for 2022. The California-based startup had initially anticipated to construct 20,000 of its Air electrical luxurious sedans this yr. It cut that target to between 12,000 and 14,000 vehicles in February, saying on the time that world provide chain points had hampered its capacity to acquire fundamentals like glass and carpet.

Lucid cut its guidance again in August, to between 6,000 and seven,000 automobiles for the yr, citing logistics challenges in addition to ongoing provide chain points. At the moment, Lucid mentioned it had about 37,000 reservations for the Air.  

Lucid will report its full third-quarter outcomes after the U.S. markets shut on Tuesday, November 8.

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