Lucid Sales Miss Estimates as Supplier Issue Slows EV Deliveries

Lucid Group Inc. shares slid after the electric-vehicle maker suspended full-year production guidance while its new chief executive officer works to align output with a challenging EV demand environment.

The decision was made as part of a review of Lucid’s business overseen by incoming CEO Silvio Napoli. An updated outlook will be provided when the company reports second-quarter results, Chief Financial Officer Taoufiq Boussaid said, characterizing the suspension as a “governance decision.”