Lucid Motors constructed 2,954 electrical autos (EVs) within the third quarter of this yr, a 54% drop from a yr in the past, as the corporate purposely limits manufacturing to higher meet demand for its EVs.
This was the third straight quarter during which the variety of EVs Lucid constructed has declined. It’s additionally the bottom quarterly output for the reason that first quarter of 2025, which was simply after Lucid Motors began manufacturing of its second EV, the Gravity SUV.
Lucid delivered 3,806 EVs within the third quarter, roughly flat with the second quarter and down about 200 autos from the third quarter of 2025. The corporate has struggled to seek out patrons for both of its first two luxurious EVs. In 5 of the final six quarters, it constructed extra autos than it delivered.
Lucid’s new CEO, Silvio Napoli, has spent the previous couple of months main an effort to “simplify the corporate.” That effort has included shedding round 1,500 staff, streamlining the corporate’s management, and eliminating a second shift at its manufacturing facility in Arizona in a bid to achieve value financial savings of $1.4 billion. Lucid additionally delayed the discharge of its third EV, the Cosmos. That mannequin is meant to be less expensive, beginning at beneath $50,000.
The third-quarter figures, launched Monday afternoon, come only a few days after rival EV upstart Rivian posted its greatest quarter in historical past on the again of the R2, its new, extra reasonably priced SUV. Though Rivian didn’t escape particular supply figures for the R2, the corporate shipped practically 20,000 autos within the third quarter, the primary full quarter with the R2 in manufacturing, up from 12,194 within the second quarter.
Lucid’s failure to seek out a big market of patrons for its EVs is much more stark in comparison with the guarantees the corporate made when it went public in 2021. That yr, Lucid Motors merged with a particular objective acquisition firm and estimated it could ship as many as 90,000 EVs in 2024 alone. The corporate raised $4 billion within the transaction.
On Lucid’s second-quarter earnings name in August, Napoli spoke about why he thinks the corporate has didn’t make a dent within the EV market.
“Whereas there is no such thing as a query that Lucid introduced main improvements and excellent merchandise to the market, now we have disenchanted on a number of fronts, and for much too lengthy,” he mentioned. “We’ve not executed persistently. We missed commitments, launched merchandise earlier than they have been prepared, underinvested in service, responded too slowly to high quality points, and allowed complexity to sluggish choices down.”
The Cosmos’ cheaper price might, in concept, let Lucid entry a wider market, however Napoli cautioned shareholders that speeding the brand new EV out might create extra hassle.
“We won’t repeat the errors of the previous by bringing a product to market earlier than it’s prepared,” Napoli mentioned on the decision.
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