Electrical luxurious car maker Lucid Group confirmed on Wednesday that it stays on observe to provide between 6,000 and seven,000 autos in 2022, consistent with the extra conservative steerage it supplied to buyers in August.

Lucid’s shares opened over 5% greater following the information.

Lucid stated in an announcement that it produced 2,282 autos at its Arizona manufacturing unit within the third quarter. It delivered 1,398 autos to prospects throughout the identical interval.  

Lucid has twice lower its manufacturing steerage for 2022. The California-based startup had initially anticipated to construct 20,000 of its Air electrical luxurious sedans this 12 months. It lower that concentrate on to between 12,000 and 14,000 autos in February, saying on the time that world provide chain points had hampered its potential to acquire fundamentals like glass and carpet.

Lucid lower its steerage once more in August, to between 6,000 and seven,000 autos for the 12 months, citing logistics challenges in addition to ongoing provide chain points. At the moment, Lucid stated it had about 37,000 reservations for the Air.  

Lucid will report its full third-quarter outcomes after the U.S. markets shut on Tuesday, November 8.