High-level execs have left Lucid, raising production concerns.
Lucid has been struggling with production setbacks for a while now. Any automaker has been, but small automakers like Lucid and Rivian have both been hit hard by supply shortages. And without supplies, Lucid has been unable to push the Air and upcoming Gravity into its Studio showrooms. Recently, Lucid set out to raise as much as $8 billion in the face of production setbacks.
Now, word has reached us that high-level members of Lucid Motors' staff have left. Worse still, these are members of Lucid's production arm. This includes Peter Hochholdinger, Lucid's VP of global manufacturing, and five other high-profile manufacturing executives.
Per Business Insider, Hochholdinger is now out. It's unclear as of now what transpired between the VP and Lucid. He could have been asked to leave, along with those he brought into the fold, or he could have taken the quick way out of his tenure at Lucid, with others deciding to follow.
Initially, Lucid said that it would deliver a total of 20,000 vehicles in 2022. With its VP out, along with five other as-yet-unnamed employees in the same sector, that number could fall further. On top of that, Lucid has already reduced that target twice thus far. Lucid is, of course, not the only one as Rivian has also been forced to cut production as well.
Prior to Hochholdinger's departure, Lucid's adjusted production counts for the year total somewhere in the neighborhood of 6,000 to 7,000 cars. We imagine that Hochholdinger's leaving will no doubt affect those numbers. A few rungs at the very top of the ladder have left Lucid, and this will no doubt cause some concern among shareholders.
Despite that, Lucid continues to develop derivatives of its outstanding Air sedan. The recently-debuted Air Sapphire is set to be a Tesla-killer, and the company shared photos of the Air Pure and Touring earlier this week. Those versions will get a metal roof instead of the company's traditional glass top.
On top of that, the Lucid Gravity, the brand's first SUV, is set to be a mass-produced SUV that will help raise some much-needed capital for the brand. That said, Lucid has more than 30,000 reservations for the Air alone as of now. With Hochholdinger and others out, production volume will not be Lucid's strong suit for some time. While the cars have been positively received by both customers and media, a lack of production will certainly put the brand on a downward slope.