Demand concerns dog Lucid

Analysts are concerned that demand for Lucid’s high-end EVs is struggling to match the company’s production ability, ahead of the firm’s forthcoming Q2 earnings call. While Lucid is producing vehicles at a reasonable rate, as the supply chain issues which have dogged much of the EV industry recede, James Picariello, senior automotive analyst at bank BNP is concerned about the company’s conversion rate.

“Based on their progress in their production ramp leading into year-end last year, [Lucid] could produce upwards of 20,000-plus units this year. The negating factor to that 20,000-unit production number is the deliveries. There is just not enough demand right now for their product,” the analyst warns.