Lucid Motors Is Starting To Ramp Up Production

The Electric Vehicle industry was really starting to heat up, but supply chain issues and a global chip shortage got in the way for the biggest players in this space. Recently Nio has halted production, Tesla is increasing prices on their vehicles, Lucid Motors had an issue with a missing part, glass canopy and carpet that hurt production numbers and auto legacy makers are having a really tough time taking off.

With that said, Lucid has continued to stick with its rapid growth model and focused on the long term. Although this does not help the stock price increase like many early lucid investors want, Lucid is ultra focused on growing their AMP factories in Arizona and is starting construction of the Saudi Arabia facility in the first half of 2022.

Lucid Motors continues to use that estimated $6.2 Billion on their balance sheet to open more studios in the United States, Canada and even open their first studio in Europe, which is located in Munich Germany.

Lucid Motors Hires 2nd and 3rd Shift Workers

Lucid Motors also hired second and third shift workers for their assembly line. Lucid is starting to ramp up production after a disappointing revision of the 20,000 vehicles they estimated to be produced. They revised those production numbers to 12-14,000 vehicles during the Q4 Earnings Report.

A missing part, short supply of glass canopy and carpet, forced Lucid to cut back on production in late 2021 and early 2022. Now we are starting to see some real momentum of great news from the company.

Drone Flyovers

Bears Workshop has been the eyes of the sky for Lucid Motors supporters and investors. Bear's latest drone feeds have shown more LucidAirs in the Lucid parking lot outside the AMP factory. This is a great sign for Lucid as many LucidAir reservation holders receive their VIN numbers and delivery date.

Could this be Lucid Motors' production inflection point? Last picture we saw 80 LucidAirs and 2 haul trucks. Lucid Motors only delivered 125 vehicles in 2021. By the numbers, this sounds like a huge milestone to have 64% of the vehicles in the parking lot than we delivered all of 2021.

All eyes are on the Q1 earning reports which will find out how Lucid Motors is handling the hard hurdle of producing during this strange time of global chip shortages and supply chain issues. As well as, will Lucid reach the 12-14,000 vehicle number. Let me know in the comments if you think Lucid will achieve that number for 2022!

80 More Lucid Airs! LETS GO!!! #Lucid $LCID https://t.co/oaw0nal8az— LUCIDVERSE (@TheLucidVerse) April 18, 2022

Final Thoughts About Lucid Motors Ramping Up Production

As an EV enthusiast, I am ecstatic to see more LucidAirs on the road. This will allow more exposure for LucidAir because Lucid Motors is relatively unknown to the likes of Tesla, Ford and General Motors. However, the Motor Trend Car of the Year in 2022 is a real head turner and the specs are even more impressive. The software is not the best at this point and Lucid owners are letting Lucid know that, but with over the air updates, this will get immensely better with time. The Nvidia partnership will also make the vehicle better in a ton of ways. I will be publishing an in-depth article about that partnership this week, so stay tuned.

As for Lucid in the nearterm, I am so impressed how they are handling all of these obstacles that are affecting the entire EV industry. The leadership team of Lucid Motors has done a fantastic job with hiring employees in stages and expanding the company while many EV makers are taking a step back.

Anthony Donati focuses on electric vehicles and renewable energy companies. He covers Lucid Motors news at Torque News. Please follow him on Twitter at @TheLucidVerse for daily Lucid Motors news. He has a degree in Business Administration with a concentration in Finance. DISCLAIMER: Anthony is a Lucid Motors (LCID) stock holder.

IMAGES COURTESY OF LUCID MOTORS GALLERY