Lucid sinks 11% as the EV maker slashes production forecast to as low as 6,000 vehicles on supply chain disarray

• Lucid shares dropped Thursday after the luxury EV maker made another cut in its 2022 production target.

• It now sees making 6,000-7,000 vehicles, down from a previous forecast of 12,000-14,000.

• Lucid pointed to ongoing supply-chain and logistics issues as reasons behind its latest lowered outlook.

Lucid dropped sharply Thursday after chopping down its 2022 production outlook while it tries to meet the demand for its electric vehicles.

"Our revised production guidance reflects the extraordinary supply chain and logistics challenges we encountered," Lucid CEO Peter Rawlinson said in a statement late Wednesday that accompanied second-quarter financial results.

Shares fell 11% as trading in Thursday's regular session got underway.

"Our revised production guidance reflects the extraordinary supply chain and logistics challenges we encountered," Lucid CEO Peter Rawlinson said in a statement accompanying second-quarter financial results.