Lucid (LCID) 2022 EV production and deliveries exceed expectations

With 1,050 horsepower, the new Grand Touring Performance edition becomes the most powerful version of Lucid’s electric Air sedan.

Lucid Motors

Electric luxury vehicle maker Lucid Group said it produced just over 7,100 vehicles in 2022, slightly more than expected. The company told investors in August to expect production of between 6,000 and 7,000 vehicles for the full year.

Lucid said in a statement that it produced 3,493 vehicles at its Arizona factory in the fourth quarter, bumping its total to 7,180 for the full year. Lucid’s fourth-quarter production total was up 53% from the third quarter, when it produced 2,282 Air sedans and delivered 1,398.

Lucid’s 2022 production beat its guidance, but that guidance was much reduced from the company’s original plan for the year. Lucid had originally expected to build 20,000 of its Air electric luxury sedans in 2022, but it was forced to lower that target twice – once in February amid global supply chain disruptions, and again in August, when it cited logistics challenges.

Lucid will report its fourth-quarter and full-year financial results on Feb. 22.

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