Lucid Motors’ EV output falls to lowest level in almost two years

Lucid Motors produced a record low 2,954 electric vehicles (EVs) in the third quarter of the year, a 54% decrease from the same period a year earlier. This marks the third consecutive quarter of declining production and the lowest output since early 2025, shortly after the company began manufacturing its second EV, the Gravity SUV.

Lucid delivered 3,806 vehicles during this period, which is nearly identical to the previous quarter and a drop of about 200 vehicles compared to the third quarter of 2025. The company has faced challenges in finding customers for its luxury EVs, with five of the last six quarters seeing more vehicles manufactured than delivered.

Since the change in leadership under Silvio Napoli, Lucid has undertaken measures to "simplify" the company, including significant layoffs, leadership restructuring, and factory efficiency improvements. These efforts are aimed at achieving $1.4 billion in cost savings. Recently, Lucid postponed the launch of its third EV, the Cosmos, which is expected to be priced significantly lower, beginning at under $50,000.

This delay comes shortly after rival EV startup Rivian reported its highest quarterly output ever, driven by the R2, a more affordable SUV. Rivian shipped nearly 20,000 vehicles in the third quarter, with the R2 contributing to the surge, up from 12,194 units in the prior quarter. Lucid's struggles in finding a market for its EVs are particularly evident when compared to its ambitious 2024 sales targets when it went public in 2021 - the company had predicted it would ship up to 90,000 EVs in that year alone, having raised $4 billion in its initial public offering.

In August, Lucid CEO Silvio Napoli acknowledged the company's shortcomings, admitting that despite innovative products, the firm has consistently failed to meet expectations. Napoli blamed issues like premature product launches, inadequate service investment, slow responses to quality concerns, and internal complexity for the disappointments.

When discussing the potential impact of the Cosmos' lower price, Napoli cautioned against rushing its release, warning that repeating past mistakes by launching underdeveloped products could lead to further problems.