By Cromwell Schubarth | Phoenix Business Journal
Shares of Lucid Group Inc. dropped more than 10% in early trading on Tuesday after the luxury electric car maker reported a widened loss in a quarter and lowered its production forecast for the year.
“We are on track to produce over 10,000 vehicles in 2023, with company-wide initiatives ongoing that will enable Lucid to pivot to higher volumes as market conditions allow,” CEO Peter Rawlinson said Monday in the announcement of the Newark, California-based company’s first quarter 2023 results.
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