Musk Trolls Lucid For Building So Few Cars

• Lucid's forecasted production figure has dropped to 6,000-7,000 vehicles in 2022
• With more than 37,000 reservations, it will take more than five years to clear the backlog at current rate
• Lucid's share price dropped by ten percent after it cut estimated production figures

The ongoing semiconductor chip shortage makes it extremely tough for legacy manufacturers to produce cars. It's even more challenging for startups trying to impress early adopters. Lucid Motors and Rivian are two prime examples, with the former being hit the hardest.

Rivian is on track to deliver 25,000 vehicles this year, but in March, Lucid had toadjust its original forecasted figureof 20,000 units produced in 2022 to somewhere between 12,000 to 14,000 cars. In a recent interview withAutomotive News, Lucid's CEO, Peter Rawlinson, revealed that the updated production estimate had been cut in half.

Lucid will only produce between 6,000 to 7,000 vehicles this year. The famous EV maker currently has over 37,000 reservations, and at this rate, it will take Lucid over five years to clear the backlog.

"Our revised production guidance reflects the extraordinary supply chain and logistics challenges we encountered," said Rawlinson. "We've identified the primary bottlenecks, and we are taking appropriate measures, bringing our logistics operations in-house, adding key hires to the executive team, and restructuring our logistics and manufacturing organization."

During the first half of the year, Lucid's Arizona factory produced and delivered 1,405 Airs. TheAiris the only model currently available in the USA, with an SUV expected to arrive in two years. Asmaller Tesla Model Y rival will followin due course.

The current Air range consists of three models. Pricing starts at $87,400 for the entry-level Pure and increases to $179,00 for the Grand Touring Performance.