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.
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Lucid is another instance of why breakthrough Tech companies that scale rapidly don’t have many successful imitators. Just copying the successful formula is typically a recipe for burning Capital until you give up. This is true even for very competent rivals with deep pockets. Microsoft couldn’t copy Google, Google couldn’t copy Facebook, Apple won’t be able to compete with Tesla.
Lucid is still at trying to make a Model S clone.
You are making the classic mistake of interpreting an estimation of the state of things as a wish.
Basically, everybody wants Lucid to succeed, but Lucid simply do not appear to have the necessary competence for scaling production. Compare to the chinese start up firms – Nio, Xpeng – who have all managed to scale to the ~100k mark in 2021.
Of course they should fail. No one should challenge the one and only destined car maker.