Lucid Group produced 7180 vehicles in 2022, exceeding the annual forecast.

January 13, according to foreign media reports, on Thursday, local time, electric vehicle startup Lucid Group released production and delivery data for the fourth quarter of 2022 and the whole year of 2022 as of December 31, 2022.

In the fourth quarter of 2022, the company produced 3493 cars at its Arizona plant, up 53 per cent from a month earlier. During the same period, the company delivered 1932 cars.

For the whole of 2022, the company produced 7180 vehicles, exceeding the annual forecast of 6000-7000 vehicles. During the same period, the company delivered 4369 cars.

The Lucid Group was renamed after Lucid Motors completed its merger with special purpose acquisition company (SPAC) Churchill Capital Corp IV on July 23, 2021, which aims to achieve production targets of 20000 vehicles in 2022 and 50000 vehicles in 2023.

However, Lucid has cut its production targets twice in the past year. In February last year, the company adjusted its production target, which it hopes to produce 12000 to 14000 cars by 2022.

In August last year, the company adjusted its production target again. At the time, the company said it only wanted to produce 6000-7000 cars by the end of 2022.

Following the release of production and delivery data for the fourth quarter of 2022 and the full year of 2022, the company will report fourth quarter 2022 results on February 22, 2023.