Lucid Group announced that it produced 2,282 vehicles in the third quarter of 2022, as per Electric Cars Report.
It tripled the number produced in the second quarter. With the 2,282 cars built in Casa Grande, Arizona, Lucid delivered 1,398.
The company struggled in the second quarter, only delivering 679 vehicles. The drastic improvement in its production and delivery indicates growth.
Furthermore, Lucid initially planned 20,000 vehicles in 2020. However, the automaker modified its plans due to supply chain and logistic challenges.
“Our revised production guidance reflects the extraordinary supply chain and logistics challenges we encountered,” Peter Rawlinson, CEO, and CTO, said. “We’ve identified the primary bottlenecks, and we are taking appropriate measures…We continue to see strong demand for our vehicles, with over 37,000 customer reservations, and I remain confident that we shall overcome these near-term challenges with a relentless tenacity and a steely determination.”
The automaker acknowledged its production for the year today. “These figures remain in line with the company’s expectations, and Lucid believes it is on track to deliver on its previously provided 6,000 to 7,000 vehicle production guidance for the full year 2022,” Lucid wrote in a press release.
Lucid will host a conference call for third quarter 2022 financial results on Tuesday, November 8, 2022, at 2:30 PM PT/5:30 PM ET. Before that, it will also issue an earnings press release with a link to the live broadcast on ir.lucidmotors.com.
Additionally, the company is partnering with Say Technologies for retail and institutional shareholders to submit and upvote questions. Questions will be answered by Lucid management during the earnings call.
