Tesla’s CEO Elon Musk reacted on Thursday to Lucid’s delivery numbers in the second quarter of the year saying he “had more kids in Q2 than they made cars”. On Wednesday, Lucid reported 679 vehicles delivered cutting its annual production guidance from 12k-14k to 6k-7k vehicles.
The company announced a “strong customer demand for Lucid Air with reservations over 37,000”, representing potential sales of approximately $3.5 billion.
In the first half of the year, Lucid delivered 1,405 vehicles expecting to ramp up the production in the second half by 227% to reach the bearish case scenario of 6,00 units by the end of the year.
Earlier this year, the company has lowered its production guidance to a range of 12,000 to 14,000 vehicles, down about 30% to 40% from its original target of 20,000 vehicles, noting supply chain constraints.
“Unless something changes significantly with Rivian and Lucid, they will both go bankrupt. They are tracking toward bankruptcy. I hope they can do something, but unless they can cut their cost dramatically, they are in deep trouble and will end up in the cemetery like every other car company with the exception of Tesla and Ford”, Musk said.