For the second quarter in a row, Lucid Group failed to meet Wall Street's expectations, reporting a loss of $2.65 per share compared to the analysts' forecast of $2.27. The fully electric vehicle manufacturer continues to address issues with the launch of its new Gravity model. The company also lowered its minimum capital expenditure target by $100 million, bringing the range to between $1 billion and $1.2 billion. Additionally, Lucid Group reduced its maximum annual production forecast to approximately 18,000 vehicles, down from the previous guidance of 18,000 to 20,000 units; its original goal for this year was 20,000 units.
