Lucid Motors output falls 54%, lowest in nearly two years

Lucid Motors built 2,954 electric vehicles in the third quarter of this year, a 54% drop from the same period in 2025, TechCrunch reports. It's the third straight quarterly decline and the lowest output since the first quarter of 2025, shortly after the company started production of its second EV, the Gravity SUV.

Lucid delivered 3,806 EVs in the third quarter, roughly flat with the second quarter and down about 200 vehicles from a year earlier. In five of the last six quarters, TechCrunch notes, Lucid built more vehicles than it delivered.

New CEO Silvio Napoli has been leading an effort to simplify the company. That has included laying off around 1,500 employees, streamlining leadership, and eliminating a second shift at its Arizona factory, targeting $1.4 billion in cost savings. Lucid also delayed the release of its third EV, the Cosmos, a cheaper model expected to start under $50,000.

The figures come just days after rival Rivian reported its best quarter ever, shipping nearly 20,000 vehicles in the third quarter, up from 12,194 in the second quarter, largely on the back of its new, more affordable R2 SUV.

Lucid's struggles contrast sharply with the promises it made when it went public in 2021 via a SPAC merger, when it estimated it would ship as many as 90,000 EVs in 2024 alone. The company raised $4 billion in that transaction.

On Lucid's second-quarter earnings call in August, Napoli acknowledged the company's missteps. "While there is no question that Lucid brought leading innovations and outstanding products to the market, we have disappointed on several fronts, and for far too long," he said, according to TechCrunch. "We have not executed consistently. We missed commitments, launched products before they were ready, underinvested in service, responded too slowly to quality issues, and allowed complexity to slow decisions down."

Napoli also warned shareholders against rushing the Cosmos to market. "We will not repeat the mistakes of the past by bringing a product to market before it is ready," he said.

• Cosmos
• EV
• Gravity SUV
• Lucid Motors
• Rivian
• Silvio Napoli