Lucid Motors slashed its production forecast for the year in half to between 6,000 and 7,000 units of its Air electric sedan after a difficult second quarter due to supply chain issues, the company said after market close Wednesday.
Lucid delivered 679 vehicles in the second quarter. First-quarter deliveries were 360. Production out of its Arizona factory for the first half of the year was 1,405 vehicles, the company said in a press release.
"Our revised production guidance reflects the extraordinary supply chain and logistics challenges we encountered," said CEO Peter Rawlinson. "We've identified the primary bottlenecks, and we are taking appropriate measures — bringing our logistics operations in-house, adding key hires to the executive team, and restructuring our logistics and manufacturing organization."