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Production Struggles

All articles tagged with #production struggles

business2 years ago•3 min saved

Lucid (LCID) Stock Plummets as CFO Departs Amid Gravity SUV Debut

Lucid (LCID) stock plunges nearly 10% after the departure of its CFO, Sherry House, who is leaving to pursue other opportunities. The EV maker has been facing challenges in scaling production, with delivery numbers falling and production targets being cut. Lucid's losses are mounting, reaching over $2.17 billion in the first nine months of the year. The company hopes that lower prices and the upcoming launch of its electric SUV, the Gravity, will help improve its performance. However, the stock has fallen almost 50% in the past year and will be dropped from the Nasdaq 100 stock index.

via Electrek|

#business #ev-maker #executive-departure

business2 years ago•1 min saved

Lucid Electric Vehicle Maker Faces Stock Drop as CFO Resigns

Lucid Group Inc.'s chief financial officer, Sherry House, has resigned from the luxury electric vehicle maker, adding to the company's challenges in increasing production. Gagan Dhingra, the current vice president of accounting and principal accounting officer, will serve as interim CFO while the company searches for a permanent replacement. Lucid's stock fell 3.9% following the announcement, contributing to a year of volatility for the company, which has faced production setbacks and a decline in stock value.

via Yahoo Finance|

#business #cfo-resignation #electric-vehicles

automotive2 years ago•1 min saved

Ford Offers $3,000 Compensation to Unfulfilled Maverick Buyers: Report

Ford is reportedly offering compensation to Maverick buyers who never had their orders filled or whose trucks never went into production. The program aims to address the company's inability to meet the strong demand for the sought-after truck, with some buyers waiting for months. Buyers may receive up to $2,750 off the price, depending on the model they ordered. Ford's production struggles and the low price point of the Maverick have contributed to the high demand and long wait times.

via Jalopnik|

#automotive #compensation #ford