Lucid builds 2,954 EVs as quarterly output falls 54%

Lucid Motors built 2,954 electric vehicles (EVs) in the third quarter, down 54% from a year earlier, as it limited production to better match demand. Output fell for a third consecutive quarter and was the company’s lowest quarterly total since the first quarter of 2025, shortly after production began on its second EV, the Gravity SUV.

Lucid delivered 3,806 EVs in the third quarter, roughly flat with the second quarter and about 200 fewer than in the third quarter of 2025. In five of the past six quarters, the company built more vehicles than it delivered, as it has struggled to find buyers for its first two luxury EVs.

New CEO Silvio Napoli has led an effort to simplify the company. It has included around 1,500 layoffs, a streamlined leadership team and the elimination of a second shift at its Arizona factory. Lucid said the measures are intended to help achieve $1.4 billion in cost savings.

The company has delayed the Cosmos, its third EV, which is expected to start below $50,000. On Lucid’s second-quarter earnings call in August, Napoli said the company had disappointed, missed commitments and responded too slowly to quality issues. He also said Lucid would not bring the Cosmos to market before it was ready.

Lucid estimated when it went public in 2021 that it could ship as many as 90,000 EVs in 2024. The company raised $4 billion in its merger with a special purpose acquisition company. The third-quarter figures were released Monday afternoon, according to TechCrunch.