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Lucid Group produces 7,180 vehicles in 2022, exceeding annual expectations

Electric vehicle startup Lucid Group announced its production and delivery figures for the fourth quarter of 2022 and the full year of 2022, ending Dec. 31, 2022, according to foreign media reports Thursday, local time.

In the fourth quarter of 2022, the company produced 3,493 vehicles at its Arizona facility, up 53 percent sequentially. During the same period, the company delivered 1,932 vehicles.

For the full year 2022, the company produced 7,180 vehicles, exceeding its annual production forecast of 6,000-7,000 vehicles. During the same period, the company delivered 4,369 vehicles.

Lucid Group, which was renamed after Lucid Motors completed its merger with Churchill Capital Corp IV, a special purpose acquisition company (SPAC), on July 23, 2021, aims to achieve production targets of 20,000 and 50,000 vehicles in 2022 and 2023, respectively.

However, Lucid Group has lowered its production goals twice in the past year. In February last year, the company revised its production targets, saying it wanted to produce between 12,000 and 14,000 vehicles in 2022.

Last August, the company again revised its production goals. At that time, the company said it only wanted to produce 6,000-7,000 vehicles by the end of 2022.

The company will report fourth-quarter 2022 earnings on Feb. 22, 2023, after announcing production and delivery figures for the fourth quarter of 2022 and the full year of 2022.

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