Was the Lucid electric car hyped too expensive to manufacture?

Tesla can testify that vehicle manufacturing is a business where small bundles often topple large loads – now Lucid Motors seems to have encountered similar problems in its production.

The price: 2.3 million

The American company wants to establish itself in the exclusive segment, and with a promised range of more than 80 miles according to the EPA, the Air car model has received a lot of attention.

The range applies to the version Air Dream Edition Performance with the extension “Range”. The price in Germany and the Netherlands for the edition is approximately SEK 2.3 million – a Swedish price tag has not yet been set.

Will increase production

The company delivered its first car in October 2021, and in the first quarter of this year 360 vehicles were delivered to customers. The original ambition for 2022 was to produce 20,000 cars during the year, but in February Lucid adjusted the forecast down to between 12,000-14,000 units.

The reality is that 1,405 vehicles were produced in the first half of the year – and in its new forecast, Lucid expects that in total reach 6,000–7,000 cars in 2022. That’s what Carscoops writes.

The share price is falling

According to the company’s CEO Peter Rawlinson, the slow production is due to bottlenecks in the supply chain, and it has been forced to restructure its logistics as well as the organization around production.

The problems have caused Lucid’s share price to fall and confidence did not increase after the company confirmed that under the last quarter has burned 823 million dollars – approximately SEK 8.4 billion. That’s what Electrek writes.

In order to generate revenue of SEK 990 million, the company has had to invest close to SEK 3 billion. However, it must be said that Lucid still has just under SEK 47 billion at its disposal.