lucid group inc stock fell more than 12 in afterhours trading monday after the luxury ev maker cut its production outlook citing “extraordinary” supplychain and logistics problems and its quarterly losses ballooned to more than 1 billion lucid lcid said it lost 105 billion or 64 cents a share in the fourth quarter compared with losses of 297 million or 1111 a share in the yearago quarter analysts polled by factset expected lucid to report an adjusted loss of 35 cents in the quarter on sales of around 37 million the quarterly revenue included 213 million from the first few deliveries of the lucid air “dream edition” which started in october lucid delivered 125 cars to customers in the fourth quarter with total production topping 400 vehicles to date and more than 300 deliveries to customers it said lucid also said it has also taken more than 25000 reservations as of monday pegging potential sales at more than 24 billion lucid said the expansion of its arizona plant is on track crucially however it slashed its 2022 production outlook for the lucid air a luxury ev sedan to between 12000 vehicles and 14000 vehicles citing the supplychain problems and its “continued focus on quality” yearly production was expected to be around 20000 vehicles the new outlook “reflects the extraordinary supplychain and logistics challenges we’ve encountered and our unrelenting focus on delivering the highestquality products” chief executive and chief technology officer peter rawlinson said in a statement “we remain confident in our ability to capture the tremendous opportunities ahead given our technology leadership and strong demand for our cars” he said separately lucid said it has signed agreements with saudi arabia’s government to lay the groundwork for a “full production” plant in saudi arabia lucid estimated that its first international manufacturing plant could add up to 34 billion of value over the next 15 years enabling lucid to address “growing demand” for its vehicles lucid will fully own the plant it said the ev maker said it hopes to make up to 150000 vehicles a year at the plant with construction expected to start in the first half of this year vehicles made at the factory would be sold in saudi arabia at first but lucid plans to export the vehicles to other undisclosed countries