Lucid Motors Revises EV Production Guidance Amid Leadership Transition and Cost-Cutting Measures
Lucid Motors has revised its 2024 EV production guidance, citing uncertainty due to a leadership transition and cost-cutting efforts. The company previously projected building 25,000 to 27,000 vehicles this year, a significant increase from 2023's 18,000 units, but now plans to provide an updated outlook in the second quarter. The company also reported a weaker-than-expected first quarter due to production disruptions and inventory management challenges.
Tickers: $LCID
Topics: cost-cutting EV industry guidance revision leadership transition production issues