Lucid CEO admits it ‘did not even know where cars were’ and lost orders

Lucid (LCID) CEO Silvio Napoli admitted on the company’s Q3 earnings call that, as recently as this summer, the automaker “did not even know where cars were.” Buyers placed orders, Lucid took up to two weeks to locate and deliver a car, and some of those buyers walked away.

That’s a rough admission from a company sitting on thousands of unsold vehicles. And it’s a problem Tesla ran into, and fixed, back in 2018 at more than ten times Lucid’s current volume.

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