Lucid Motors increases deliveries in the third quarter
Lucid produced only 1,805 electric vehicles in the third quarter, which is 305 fewer than in the previous quarter. To meet its annual target of 9,000 electric vehicles, Lucid would need to manufacture 3,357 vehicles in the fourth quarter—almost double the amount produced in Q3.
The low delivery and production figures can be attributed to the fact that Lucid Motors currently has only one vehicle model, the luxurious Lucid Air, which offers a range of 675 kilometres in the new 2025 model year and is available from around €64,000. A second premium model, the large electric SUV Gravity, is on the verge of market launch. Lucid has developed these vehicles and is also advancing its factory projects with billions in investments from Saudi Arabia. In addition to its manufacturing facility in Arizona, Lucid has now also launched a plant in Saudi Arabia.
Like Tesla once did, Lucid Motors also aims to expand its portfolio downwards from the expensive premium models. Recently, it became apparent that Lucid plans to develop not just one but three mid-range models.
The current delivery and production figures are still better than experts had anticipated. The 2,781 vehicles delivered were significantly above the average of 2,242 cars expected by eight analysts surveyed by Visible Alpha. A comparison of the delivery and production figures by quarter can be seen in the chart above.
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