Tesla rival Lucid's stock slides 15% after it says it'll make fewer electric cars than expected this year

• Lucid Group shares fell 15% Thursday after a disappointing earnings update.
• The EV maker missed its revenue targets and said it will make fewer cars this year than Wall Street expected.
• Demand for its luxury electric cars has taken a hit as rival Tesla's grows thanks to aggressive price cuts.

Electric-vehicle maker Lucid Group's stock price slumped Thursday after the Tesla rival released disappointing guidance for the year ahead.