Lucid Motors had a reduced 2021 delivery target of 520 cars but they delivered only 125 cars. Another 175 cars have been delivered so far in 2022. Most of the cars have been recalled due to safety issues with the suspension.
Lucid Motors might burn through its $6 billion in cash in two years. Lucid Motors has Saudi Arabian investment. This means that if they finally are able to execute and scale production then they might be able to get reloaded with capital.
The target for 2022 is about 12000 to 15000 cars but the production in the first half of the year will be tiny. They claim supply chain issues with glass and other components.
Nextbigfuture believes that Lucid Motors will either fail or will be meaningless in terms of the overall EV future.
SOURCES- Lucid Motors
Written by Brian Wang, Nextbigfuture.com
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
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