Lucid cuts full-year production forecast

(Reuters) -Lucid Group said on Tuesday it now expects to produce 8,000–8,500 vehicles this year from its earlier projection of more than 10,000 units.

The company said it was cutting production forecast “to prudently align with deliveries”.

Shares of the company fell 4% in extended trading.

The company reported third-quarter revenue of $137.8 million compared with analysts’ estimates of $183.8 million, according to LSEG.