EVs “Lucid Motors’ 2024 Production Plan: Scaling Down from 90,000 to 9,000 Electric Vehicles”

Lucid Air Touring 2
Lucid Motors plans to build just 9,000 electric vehicles in 2024, only 500 to 1,000 more than it made in 2023, as it struggles with demand for its luxury sedans. And it’s a sign of the brutal reality Lucid now faces: that it’s still scrambling to find buyers and losing money on every EV it builds. The modest projection comes a few days after the company slashed the prices of its Air sedan by $8,000. The Gravity is one of the reasons Lucid originally forecasted being able to make and ship 90,000 vehicles in a few short years. In fact, in the presentation Lucid used to promote its 2021 merger with a special purpose acquisition company, it predicted the Gravity would outsell the Air sedan in 2024.