Lucid Recalls Over 1,000 Cars After Customer Reports Burnt Finger From Overheating Seat
Portfolio Pulse from Anan Ashraf
Lucid Group Inc (NASDAQ:LCID) is recalling over 1,000 Lucid Air sedans due to risks of rear seats overheating and causing burn injuries. The company has delivered 1,457 EVs in Q3 and produced 6,037 units year-to-date. The stock has slumped 34% year-to-date.
October 27, 2023 | 5:44 am
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NEGATIVE IMPACT
Lucid Group is recalling over 1,000 cars due to a defect that could cause seats to overheat. This could negatively impact the company's reputation and stock price.
The recall of over 1,000 cars due to a defect could harm Lucid Group's reputation and customer trust, potentially leading to decreased sales and a drop in the stock price. The company's stock has already slumped 34% year-to-date, and this news could exacerbate the decline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100