Lucid recalls hundreds of vehicles due to risk of sudden power loss
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Lucid Group (NASDAQ:LCID) has issued a recall for 2022 and 2023 models of its flagship Air vehicle due to the potential for the car to suddenly lose power.

âThe electrically activated contact switches that transfer energy to the drive motors, may unexpectedly open, cutting off power to the electric motors,â an NHTSA recall notice explains.

A total of 637 vehicles are at risk and are subject to the recall, according to the notice. Owners are due to receive official notice from the company by late April. Lucid (LCID) has agreed as part of the recall to update vehicle software and replace contactor switches, as necessary, free of charge.

Multiple complaints on the NHTSA website noted the problem ahead of the recall, with both 2022 and 2023 receiving customer reports of sudden power issues while traveling at high speeds. No injuries have been reported in association with the issue as each complainant was able to pull over before total power loss.
Read more on why Seeking Alphaâs Quant team has rated the stock a Sell since late 2022.