Supply Chain Problems Persist, Hitting a Tesla Competitor Hard

Published by
The Street

By Ellen Chang A company trying to gain a toehold in the burgeoning EV space has had to cut production estimates by nearly half for the remainder of 2022. Supply chain woes continue to plague automakers including one of Tesla’s (TSLA) – Get Tesla Inc. Report rivals in the race to increase the number of electric vehicle owners. Lucid Motors (LCID) – Get Lucid Group Inc. Report has faced roadblocks in increasing its production of its lineup of luxury cars and reported delivering only 679 vehicles during the second quarter. The California EV manufacturer also slashed its target for the number of …

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