Quick Takeaways
- Lucid sharply accelerated production in Q4 2025 to recover from a slow first half and meet full-year guidance.
- Strong liquidity and a midsize EV platform underpin Lucid’s plan to scale volumes and enter broader market segments.
Recently, Lucid EV production and deliveries accelerated sharply in the final quarter of 2025, allowing the electric vehicle manufacturer to reach the lower end of its annual production outlook despite earlier setbacks. After production of the Gravity model was constrained during the first half of the year, the company focused on scaling output aggressively toward year-end.
Through the first nine months of 2025, Lucid had built only 9,966 vehicles, leaving a steep production gap to close in the fourth quarter. To meet its full-year guidance of 18,000–20,000 vehicles, Lucid needed to manufacture more than 8,000 additional units in just three months. The company successfully executed that ramp-up.
Lucid EV Production and Deliveries Performance in Q4 2025
While several electric vehicle manufacturers reported softer delivery numbers during the same period, Lucid EV production and deliveries showed significant momentum. The company produced 8,412 vehicles in the fourth quarter alone, marking a 116 percent increase compared with the previous quarter and a 148 percent rise from the same period last year.
For the full year, Lucid’s production reached 18,378 vehicles, more than doubling compared with 2024. Deliveries also strengthened, climbing 73 percent year over year in Q4 to 5,345 units. Total vehicle deliveries for 2025 stood at 15,841 units, reflecting a 55 percent annual increase.
Quarterly Breakdown of Lucid EV Production and Deliveries
Liquidity Position and Future Product Expansion
The strong operational performance follows recent reassurances from company leadership emphasizing continued investment and production scaling despite broader industry pullbacks in electric vehicle programs. At the end of the third quarter, Lucid reported approximately $4.2 billion in available liquidity.
Following an agreement to expand its delayed draw term loan credit facility, total liquidity would have increased to around $5.5 billion. According to the company, this capital runway is sufficient to support operations through the first half of 2027.
Looking ahead, Lucid plans to begin production of its midsize vehicle platform later this year. The platform is expected to underpin at least three new models, including a midsize electric SUV positioned at an estimated starting price of around $50,000, as Lucid targets broader market segments and higher volume opportunities.
Through the first nine months of 2025, Lucid had built only 9,966 vehicles, leaving a steep production gap to close in the fourth quarter. To meet its full-year guidance of 18,000–20,000 vehicles, Lucid needed to manufacture more than 8,000 additional units in just three months. The company successfully executed that ramp-up.
Lucid EV Production and Deliveries Performance in Q4 2025
While several electric vehicle manufacturers reported softer delivery numbers during the same period, Lucid EV production and deliveries showed significant momentum. The company produced 8,412 vehicles in the fourth quarter alone, marking a 116 percent increase compared with the previous quarter and a 148 percent rise from the same period last year.
For the full year, Lucid’s production reached 18,378 vehicles, more than doubling compared with 2024. Deliveries also strengthened, climbing 73 percent year over year in Q4 to 5,345 units. Total vehicle deliveries for 2025 stood at 15,841 units, reflecting a 55 percent annual increase.
Quarterly Breakdown of Lucid EV Production and Deliveries
- Q1 2025 – Production: 2,212 units; Deliveries: 3,109 units
- Q2 2025 – Production: 3,863 units; Deliveries: 3,309 units
- Q3 2025 – Production: 3,891 units; Deliveries: 4,078 units
- Q4 2025 – Production: 8,412 units; Deliveries: 5,345 units
- Full Year 2025 – Production: 18,378 units (up 104 percent year over year); Deliveries: 15,841 units (up 55 percent year over year)
Liquidity Position and Future Product Expansion
The strong operational performance follows recent reassurances from company leadership emphasizing continued investment and production scaling despite broader industry pullbacks in electric vehicle programs. At the end of the third quarter, Lucid reported approximately $4.2 billion in available liquidity.
Following an agreement to expand its delayed draw term loan credit facility, total liquidity would have increased to around $5.5 billion. According to the company, this capital runway is sufficient to support operations through the first half of 2027.
Looking ahead, Lucid plans to begin production of its midsize vehicle platform later this year. The platform is expected to underpin at least three new models, including a midsize electric SUV positioned at an estimated starting price of around $50,000, as Lucid targets broader market segments and higher volume opportunities.
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