RIVN - Lucid Motors: International Expansion May Be Too Ambitious Too Soon
- Lucid is aiming for international expansion this year as it struggles with production cuts.
- Lucid cut its 2022 production forecast by ~7k units at midpoint, a 35% decrease from SPAC projections, and 2023 by ~30% to 34k units.
- Delay of Gravity and possible delay of future models signals that 2024 and 2025 initial production projections may be slightly too optimistic.
- However, Lucid has booked a massive order with Saudi Arabia, which solidifies a significant cumulative delivery/revenue stream.
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Lucid Motors: International Expansion May Be Too Ambitious, Too Soon