Climate alarmists’ misguided fantasy of an electric vehicle-dominated world has morphed into a nightmare amid historic inflation and crippling supply-chain bottlenecks.
In the latest blow, EV maker Lucid Group slashed its production outlook by 50 percent, citing supply-chain disruptions and “logistical challenges,” The Wall Street Journal reported on Thursday.
Other factors contributing to the expected shortfall are increased competition in the EV market and skyrocketing prices of raw materials amid the runaway inflation that has become the hallmark of Joe Biden’s failed presidency.
This is the second time in the past eight months the California automaker has cut its production projections. Lucid now expects to make just 6,000 to 7,000 cars this year.
In February, the electric vehicle company had cut its outlook from 20,000 vehicles to 12,000.
“This quarter has proven to be a very challenging period, and whilst we have experienced supply chain and logistics challenges along with the entire industry, the limitations of our logistics systems have compounded the challenge,” CEO Peter Rawlinson told the Wall Street Journal.
As a result, Lucid will “increase the price of its sole vehicle, the Air sedan, to $87,000, citing rising raw material costs.”
Gas & Oil NOT going Anywhere !!!!
Better keep producing that combustible engine or no one will be going anywhere
Ha ha
Democrat Party COMING TO AN END !!!!!
Plan B (oil) will outlast plan A. EVs not sustainable if no one buys….which means the bugs will never get fixed and then failure.