April 14, 2023
Lucid Group Inc. reported first-quarter production and delivery figures that were lower than the preceding three months, in line with its guidance of weak production this year.
The luxury electric car-maker late Thursday said it produced 2,314 vehicles and delivered 1,406 in the quarter ended Mar. 31, lower than the 3,493 vehicles produced and 1,932 delivered in the December quarter.
Lucid shares fell 6.8 percent in premarket trading on Friday. The company said it will report quarterly results on May 8.
The Newark, Calif.-based company, already battling supply chain and logistics issues, was hit by aggressive price cuts sparked by…