EVsEngadgetabout 1 hour ago
Lucid CEO Admits Losing Track of Cars
2 min read
Lucid CEO Silvio Napoli states the EV maker lost orders because its logistics system failed to track inventory. The company built 2,954 vehicles last quarter while delivering 3,806, leaving $1.22 billion in unsold stock. Lucid lost $831 million on $350 million revenue, yet primary investor PIF injected an additional $1.75 billion.
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