Other EV startups such as Rivian Automotive Inc. and Lordstown Motors, which raised money on public lists, did not achieve their own production goals.

Lucid is aimed at a much higher-end buyer than Rivian, as the original version of Lucid’s Air sedan costs $ 169,000.

In all, Lucid has released more than 400 Air sedans to date and delivered more than 300 to customers. It also reported more than 25,000 car bookings and earned $ 26.4 million in fourth-quarter revenue.

CEO Peter Rawlinson did not specify the logistical problems that cause production delays, but expressed confidence that Lucid is fully prepared to use the demand for their cars.

“We remain confident in our ability to take advantage of the enormous opportunities that lie ahead, given our technological leadership and high demand for our cars,” he said in a statement.

According to the statement, the expansion of the assembly plant Casa Grande, Ariza, an area of ​​2.85 million square feet “on the way”. Lucid also said he had recently leased land in Saudi Arabia, where he plans to build his second factory.

Chairman Andrew Liverris previously told Bloomberg TV that he expects to open a second plant by 2026.

The launch of Air did not go without some problems, as only last week Lucid issued a recall due to a potential security flaw. Lucid also delivered some of the first sedans without the promised driver assistance feature that the company promised to add after delivery through an over-the-air software update.

Bloomberg and Reuters contributed to this report.

Previous articleDennis & Co. Auto Group adds six dealerships
Next articleLeapmotor delivered 3,435 cars in February.