Tesla's Saudi-backed rival just spooked investors by cutting targets in half. But Lucid's CEO says trust me, I got this

U.S. luxury electric vehicle startup Lucid may hail from California's Silicon Valley, but its future will be won or lost in the arid plains of Ariz...

August 11, 2022
3:46 AM

U.S. luxury electric vehicle startup Lucid may hail from California's Silicon Valley, but its future will be won or lost in the arid plains of Arizona.  On Wednesday, chief executive Peter Rawlinson shocked investors with weak quarterly figures and a surprise cut to the vehicle production forecast in the face of severe problems at its Casa Grande factory near Phoenix.  Rawlinson, the former chief engineer for the Tesla Model S, blamed it primarily on the growing pains associated with ramping up production, where parts need to arrive just in time and in the right cadence depending on an individual's customized order.

Christiaan Hetzner