Lucid Motors has announced an uncertainty in production numbers for 2023, as the company navigates a significant leadership change and cost-cutting measures. In February, Lucid had forecast building between 25,000 and 27,000 vehicles this year, marking a stark contrast from earlier estimates of hundreds of thousands. The change in guidance came during the company’s first-quarter earnings call, where Chief Financial Officer Taoufiq Boussaid blamed it on ‘a governance decision’ as incoming CEO Silvio Napoli conducts a business review.

Alongside this announcement, Lucid revealed that its quarterly performance was affected by a 29-day production disruption and a temporary stop-sale linked to issues with a seat supplier. The company anticipates careful management of production volumes in the near term to mitigate these challenges.

In a bid to reduce inventory, Boussaid stated: ‘We are not constrained on capacity; we are constrained by our own discipline not to build inventory ahead of demand.’ Lucid Motors is also currently working on its first high-volume vehicle, due for production under $50,000 in 2027. The company remains committed to launching a robotaxi service with Uber and Nuro this year, using autonomous versions of its Gravity SUV.