Topics
Latest
AI
Amazon
Image Credits:Lucid Motors
Apps
Biotech & Health
mood
Image Credits:Lucid Motors
Cloud Computing
DoC
Crypto
Enterprise
EVs
Fintech
Fundraising
Gadgets
Gaming
Government & Policy
Hardware
Layoffs
Media & Entertainment
Meta
Microsoft
Privacy
Robotics
Security
Social
Space
Startups
TikTok
Transportation
speculation
More from TechCrunch
Events
Startup Battlefield
StrictlyVC
Podcasts
video
Partner Content
TechCrunch Brand Studio
Crunchboard
Contact Us
Lucid Motors fork out only 6,001 of the 8,428 cars it built last yr , as it continues to shinny to yield demand for its luxury electric sedans .
The Saudi - back companylimped to the finishof 2023 , building just 2,391 elevator car and delivering 1,734 in the fourth quarter — down 31 % and 10 % , severally , from the 4th quarter of 2022 . That ’s despite the fact that Lucid launch the loud version of its car , dub the Lucid Air Pure , in October and immediately cutthe price of the all - wheel drive trim to $ 74,900 .
Lucid also said in tardy 2023 that it had shipped 800 cars to Saudi Arabia to be tack at a raw adroitness in the Kingdom . The company declined to say if those vehicle were counted in the figures released Thursday . In total , Lucid ’s 2023 yield and sales figures were only marginally good than they were in 2022 , where it built 7,180 cars and give birth 4,369 of them .
The unsatisfying sale figures cap a tough year for Lucid . The company laid offnearly 20 % of its workforce(around 1,300 the great unwashed ) , reduced its production targets multiple times and lostits chief fiscal officer . Lucid CEO Peter Rawlinson say on multiple occasion thathis startup was struggling to find emptor . “ Too few people are cognizant of not just the car , but even the party , ” he said way back inFebruary .
Lucid ’s path to a more successful 2024 likely quietus on the Air Pure modeling , but that could be rarify by the late choppiness of EV sale , or any further price cuts from Tesla ( or other musician ) , and the fact that sedans have fallen out of style in the U.S. The company ’s forthcomingelectric SUVwon’t ship until at least the end of this class . And while Saudi Arabia has pledge to purchase up to 100,000 of the startup ’s EVsover the next 10 years , the factory Lucid presently operates there only has a maximal capacity of assembling just 5,000 vehicles per twelvemonth until it puzzle expanded toa full yield facility later this decennium .
This story has been update to note that Lucid Motors declined to comment on whether the 800 cars in Saudi Arabia were included in the delivery figures .
