The company lost $1 billion in the last quarter.
Luxury electric vehicle maker Lucid Motors is slashing its production forecast for 2022, citing supply chain constraints. The Newark, California-based company announced it was revising down its production expectations to 12,000 to 14,000 vehicles from the original prediction of 20,000 vehicles.
Lucid also said the number of reservations for its luxury Lucid Air sedan now exceeded 25,000, reflecting $2.4 billion in potential sales. The company had previously said it had received 20,000 reservations.
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