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Lucid Deliveries Miss Mark Amid Supplier Woes
4 Apr
Summary
- Lucid missed Q1 delivery targets due to a 29-day sales halt.
- A recall of 4,476 SUVs stemmed from faulty seatbelt anchor welds.
- Persistent supply challenges plague Lucid and other EV startups.
Lucid Group reported a significant shortfall in first-quarter vehicle deliveries, failing to meet analyst expectations. Production and deliveries were hampered by a 29-day suspension of sales for its Lucid Gravity electric luxury SUV due to a supplier quality issue concerning second-row seats.
Adding to these production challenges, Lucid recently issued a recall for 4,476 Gravity SUVs manufactured between December 2024 and February 2026. The recall addresses concerns over seatbelt anchor welds that did not meet required safety standards. This situation underscores the persistent difficulties Lucid and other electric vehicle startups face in scaling production and delivery amidst cooling consumer demand.
Despite these setbacks, Lucid maintained its annual production forecast, aiming to produce between 25,000 and 27,000 vehicles. The company also continues to contend with broader industry pressures, including high import tariffs, chip shortages, and unreliable supplies of critical materials like rare earths.
