EV maker Lucid plans to adjust production, citing elevated vehicle inventories

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DETROIT — Lucid Group

plans to take actions to better align its production with customer demand for its luxury all-electric vehicles, the company said Tuesday.

The EV manufacturer said it needs to lower its “elevated inventory” of vehicles, which for automakers has historically meant lowering or idling vehicle production.

A company spokesman on Tuesday told CNBC that there is currently no plan to idle its sole U.S. plant in Arizona, but declined to reconfirm the company’s prior production guidance of between 25,000 and 27,000 units.