GoKawiilLucid Motors' EV production drops to lowest since early 2025
Lucid Motors produced 2,954 electric vehicles in the third quarter, marking a 54% decrease from the previous year and the lowest output since early 2025. The company also delivered 3,806 EVs, remaining steady from the previous quarter but below expectations, amid ongoing struggles to attract buyers for its luxury models. CEO Silvio Napoli has initiated cost-cutting measures, including layoffs and factory adjustments, while delaying the launch of a more affordable model, the Cosmos.
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This decline highlights the challenges Lucid faces in gaining market share against competitors like Rivian, which reported record deliveries in the same period. The company's reduced production and delayed product launches suggest it may be repositioning or struggling to meet its earlier growth targets, potentially impacting investor confidence and future sales prospects.
- Lucid's EV output has fallen to its lowest level in nearly two years.
- The company is implementing cost-cutting measures amid sales struggles.
- Rivian's strong quarter contrasts with Lucid's declining performance.
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Published there as: “Lucid Motors’ EV output falls to lowest level in almost two years”
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