The shares of Lucid Group Inc. LCID, +4.21% fell more than 10% in after-hours trading Wednesday after the electric vehicle maker announced a reduction in its production forecast. Lucid said it now expects its 2022 production volume to reach 6,000 to 7,000 vehicles, after indicating 12,000 to 14,000 vehicles in May. “Our revised production guidance reflects the extraordinary supply chain and logistics challenges we have encountered,” CEO Peter Rawlinson said in a statement. “We have identified the major bottlenecks and are taking appropriate action: bringing our logistics operations in-house, adding key hires to the executive team and restructuring our logistics and manufacturing organization.” Lucid reported a second-quarter loss of $555.3 million, or 33 cents per share, on revenue of $97.3 million, following a loss of $1.17 per share without revenue last year one year. Analysts, on average, had expected a loss of 39 cents per share on sales of $145 million, according to FactSet. Lucid reported deliveries of 679 vehicles, up from 360 in the previous quarter, as the company continues to roll out early versions of its Lucid Air luxury sedan. Vehicle reservations now exceed 37,000, up from 30,000 recorded three months ago. Lucid shares closed Wednesday up 4.2% at $20.56, and are down 46.2% so far this year, as the S&P 500 SPX, +1.56 % is down 14.2%.