Production figures released by Lucid show that the electric automaker produced 1,550 vehicles in the third quarter of this year, 1,457 of which reached customers.
This represents a slight increase from the 1,404 vehicles delivered in the previous quarter but a considerable drop in production (2,173 units produced in Q2 2023). Lucid has not yet revealed why production has slowed, but it now seems unlikely that the automaker will reach its goal of 10,000 cars for the year.
Worse still, Bloomberg reports that shares are down 25% thanks to both the low production numbers and the extraordinary amount Lucid loses on each one. Bloomberg estimates that Lucid flushes $338,000 down the toilet with every Air it produces.
Read Article