Lucid Motors has withdrawn its specific production and sales forecasts for the current year due to the appointment of a new CEO and cost-cutting processes. In February, the company planned to produce between 25,000 and 27,000 vehicles, but these figures are currently being revised. This is reported by Techcrunch.com .
The company's CFO, Taoufiq Boussaid, noted that this decision is linked to management changes. New CEO Silvio Napoli is reviewing the business strategy, and the company plans to provide updated forecasts during the second-quarter reporting period.
The lower-than-expected first-quarter results were caused by issues with a seat supplier and a 29-day production halt. As a result, finished goods inventory has increased, and the company is forced to control production volumes based on demand.
Nevertheless, Lucid Motors has not abandoned its plan to launch a mid-size, more affordable electric vehicle platform in 2027. The company also aims to launch a robotaxi service based on the Gravity SUV model in partnership with Uber and Nuro by the end of the year.
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