Lucid Group to recall over 200 cars due to possible safety issue By Reuters
© Reuters. FILE PHOTO: A logo is seen on the wheel of a Lucid Air Dream Edition parked at the Nasdaq MarketSite as Lucid Motors (Nasdaq: LCID) began trading on the Nasdaq stock exchange after completing its business combination with Churchill Capital Corp IV in New
(Reuters) – Electric-vehicle maker Lucid Group said on Tuesday it would recall more than 200 of its premium sedans due to a possible safety issue, sending its shares down nearly 5%.
The California-based company said there was a chance that the front strut damper – a part used in the suspension – in its sedans was assembled improperly by its supplier.
Lucid is not aware of any instances of the part failing in its vehicles, but it expects about 1% of the 203 potentially affected cars may have the incorrectly installed part.
It started building a $169,000 variant of its electric sedan in September after struggling with delays caused by quality issues. The company has since delivered a small number of cars.
In recent weeks, Tesla (NASDAQ:) Inc has filed recalls with the National Highway Traffic Safety Administration for issues related to its driver assistance system and other software issues.
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