After US stock market trading on Monday, lucid, a US electric vehicle manufacturer regarded as Tesla‘s competitor, announced the fourth quarter results of 2021. Among them, the revenue was $26.392 million, lower than the general expectation, but increased significantly compared with the same period of last year; The net loss expanded to US $1046 million, compared with a loss of US $297 million in the same period last year.
In addition, lucid cut its 2022 auto production forecast by 40%, from the initial 20000 vehicles to 1200014000 vehicles. At the opening of U.S. stocks on Tuesday, lucid’s share price fell more than 17%.
supply chain challenges
It is reported that due to the quality problems of supply chain and parts, lucid lowered its forecast of automobile production this year by 40%, from 20000 to 1200014000.
“The current problems encountered by lucid are more related to the shortage of parts such as glass and carpet than just the shortage of chips.” Peter Rawlinson, chief executive of lucid, said on the investor conference call.
Peter Rawlinson said, “this reflects the special challenges we face in supply chain and logistics, as well as our unremitting focus on providing the highest quality products. Given our technology leadership and strong market demand for our cars, we are still confident to seize the great opportunities in the future.”
Lucid was founded in the United States in 2007. The founder team comes from Tesla and Oracle. The company is positioned as a manufacturer of luxury electric vehicles. In July 2021, lucid was launched through spac, and the main electric vehicle is the dream version of lucid air, which costs US $169000. It is reported that the company has delivered more than 300 cars to customers.
According to the fourth quarter financial report of 2021 released by lucid, the fourth quarter revenue of lucid was US $26.392 million, compared with us $3.634 million in the same period in 2020; The net loss attributable to ordinary shareholders increased from US $297 million in the same period in 2020 to US $1046 million.
automobile enterprises lift the tide of production reduction
In addition to lucid, a number of car companies recently announced production cuts.
On February 14, Great Wall Motor Company Limited(601633) its Euler brand black cat and white cat announced to stop receiving orders. Dong Yudong, CEO of Oula brand, issued a document saying, “it is a helpless move to stop receiving orders. In the environment of lack of core and less power, the orders of black cat and white cat to be delivered to users have exceeded 20000 in total. According to the current production volume, if you continue to receive orders, the delivery of new orders will wait until the second half of 2022.”
According to Baichuan Yingfu data, as of March 1, the mainstream transaction price of China’s industrial lithium carbonate (99%) was 475000480000 yuan / ton, and the mainstream transaction price of China’s industrial lithium carbonate (99.2%) was 48 Shenzhen Kingkey Smart Agriculture Times Co.Ltd(000048) 5000 yuan / ton. The average price rose to 480500 yuan / ton, and the price was increased by 5000 yuan / ton, up 1.05% from the previous day.
Dong Yudong said that although the Euler brand has the advantages of the industrial chain behind it, this car still brings huge losses to the company. Take black cat as an example. After the sharp rise in raw material prices in 2022, black cat lost more than 10000 yuan per vehicle.
According to media reports, the data report recently released by eight Japanese auto companies shows that due to the spread of covid-19 epidemic and the insufficient supply of semiconductors, the new car production of five auto companies decreased in varying degrees in January 2022 compared with the same period in 2021.
Among them, Toyota’s output in Japan and China fell sharply by 32.2% compared with the same period in 2021, and the global output fell by 14.9%. In addition, Nissan fell 19.5%, Suzuki 9.4%, Mazda 9.4% and Mitsubishi 0.4%.
It is reported that after January 2022, although major Japanese car companies tried to restore production capacity, they successively announced production reduction or temporary plant shutdown due to the rebound of the epidemic. Industry insiders pointed out that the impact of insufficient supply of auto parts may continue for a long timep align=”center”>
