OEMs struggling with supply chain and cost pressures
US EV developer Lucid (NASDAQ:LCID) has become the latest EV maker to report issues with its supply chain. It cut its production goal for 2022 to 12-14,000 cars from 20,000 units, citing “extraordinary” challenges with logistics and its supply chain. It managed just 125 deliveries in 2021 from a target of 500 and delayed its Gravity SUV from 2023 to 2024. The company is struggling to secure key parts, and it isn’t the only EV maker having problems. At its 2021 results in January, Tesla (NASDAQ:TSLA) also announced that it is delaying new product launches, and has reportedly increased vehicle...