Lucid Group, Inc. (LCID) is a technology and automotive company developing next-generation electric vehicle (EV) technologies. The company designs, engineers, and builds electric cars, EV powertrains, and battery systems. It sells its products at its own geographically distributed retail and service locations and through direct-to-consumer online and retail sales.
In August, LCID lowered its 2022 production volume outlook to a range of 6,000 to 7,000 vehicles. “Our revised production guidance reflects the extraordinary supply chain and logistics challenges. 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,” said Peter Rawlinson, LCID’s CEO and CTO.
