Hyperdrive
Lucid Pledges to Reach Output Target Amid Sales Challenges
Workers assemble the Lucid Air prototype electric vehicle in 2020.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Lucid Group Inc. assured investors it’s on track to its achieve full-year production target after the maker of luxury electric sedans posted worse-than-expected quarterly results.
The company’s shares jumped as much as 7% in postmarket trading after Chief Executive Officer Peter Rawlinson said in a statement Monday that Lucid is on pace to manufacture more than 10,000 vehicles this year.