Lucid is revising its 2022 forecast again, having produced well under 1000 sedans in the past quarter. Here's what it now sees as realistic for 2022.
, but it now appears to have quickly hit a wall, delivering just 679 sedans in the second quarter. That's a serious dent for an automaker that has some 37,000 reservations for various versions of the Air, many of them priced north of $100,000.
This week the EV maker has appointed a new senior vice president of operations, Steven David, who will serve in this newly created role, bringing experience from Stellantis. "Our Q2 revenue was $97.3 million, primarily driven by higher customer deliveries of Lucid Air vehicles. We continue to have a strong balance sheet, closing the quarter with $4.6 billion cash, cash equivalents and investments, which we believe is sufficient to fund the company well into 2023," said Sherry House, Lucid CFO.
"Despite our immediate challenges, we believe that bringing our logistics center on-site at our Arizona factory will help reduce complexity, cut down lead times, and reduce various costs," House added.
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