Lucid Motors is in the process of going public through the Special Purpose Acquisition Company (SPAC) Churchill Capital IV (CCIV), and despite its recent success, the company’s CEO is not so sure it can produce just 20,000 electric vehicles (EVs) in 2022.
Seeking Alpha reported Wednesday that Lucid Motors CEO Peter Rawlinson wouldn’t commit to a meager target of 20,000 EVs produced in 2022 – just a fraction of the vehicles Tesla produces in a single year.
Rawlinson said the company is currently targeting over 577 of its Lucid Air electric sedan models this year, in an interview with CNBC.
In an interview with the press, Rawlinson said, “We are very much on track for our plan.” Rawlinson continued, “We are aiming for over 577 vehicles this year and a significant increase throughout next year.”
As Tesla CEO Elon Musk has stated numerously, prototypes are easy, but production is hard, referencing the company’s initial struggles to mass-produce its Model 3 electric sedan.
First Look: Inside The New Lucid Motors AMP-1 Factory [VIDEO] https://t.co/3ZhkyfiiZq
— TeslaNorth.com (@RealTeslaNorth) March 31, 2021
Since announcing the deal with Lucid, CCIV’s shares have sunk more than 60 percent, though they saw a slight increase following Elon Musk’s Saturday Night Live performance. Lucid also purchased advertisement space during the SNL episode, along with a number of other companies.
In January, Lucid was reportedly in talks about constructing a Saudi Arabia factory adding to its AMP-1 factory in Casa Grande, Arizona, and emphasizing the company’s desires to look globally in its position rivaling Tesla – which currently has operating factories in Shanghai, as well as Fremont, California, Sparks, Nevada, and has more on the way in Austin, Texas, and Grünheide, Germany.
