Lucid Motors’ EV output falls to lowest level in almost 2 years

Lucid Motors reported building 2,954 electric vehicles in the third quarter, a drop of 54% from the same period a year earlier. That production level marks the company’s lowest quarterly output since the first quarter of 2025 and represents the third consecutive quarter in which ship‑ments have fallen.

Deliveries for the quarter were 3,806 vehicles, roughly unchanged from the prior quarter and down by about 200 units versus Q3 2025. Company figures show that in five of the last six quarters Lucid has manufactured more cars than it has delivered to customers, a gap the firm is attempting to close by intentionally cutting factory output.

Since taking over as CEO, Silvio Napoli has implemented a cost‑reduction and simplification program that has included about 1,500 job cuts, a leaner leadership structure, elimination of a second factory shift in Arizona, and a stated target of $1.4 billion in cost savings. Lucid also postponed the launch of its lower‑priced third model, the Cosmos, which the company has indicated would start below $50,000 when released.

The Q3 results arrive amid a broader wave of competition in more affordable EV segments. Rivian, a rival EV maker, reported shipping nearly 20,000 vehicles in Q3 — its first full quarter with the R2 in production — up from 12,194 in Q2. Lucid’s difficulties contrast with the growth seen at companies expanding into lower‑priced models.

The company’s current position departs from the projections made when it went public in 2021 via a SPAC merger, a transaction that raised approximately $4 billion and included estimates that Lucid could ship as many as 90,000 vehicles in 2024. Napoli has acknowledged execution shortfalls in recent quarters and warned against rushing future products to market, emphasizing quality and readiness before launch.