All articles tagged with #lucid motors
Lucid Motors reported strong Q3 2025 financial results with a 68% increase in revenue to $336.6 million, vehicle production up 116%, and a strategic partnership with NVIDIA to develop Level 4 autonomous driving technology. The company also increased its liquidity to approximately $5.5 billion following a credit facility expansion, and made organizational changes to accelerate growth and global expansion.
Lucid Motors announced a partnership with NVIDIA to develop Level 4 autonomous electric vehicles and implement AI-driven manufacturing, aiming to deliver advanced, self-driving cars and revolutionize production processes.
Uber has invested heavily in a partnership with Lucid Motors to deploy over 20,000 Lucid robotaxis on Uber's platform over six years, marking a significant strategic move for Lucid to gain market legitimacy and scale, though questions remain about the economic viability given the high vehicle costs and ride prices.
Lucid Motors, Nuro, and Uber are partnering to develop a next-generation autonomous robotaxi program, aiming to deploy over 20,000 Lucid vehicles equipped with Nuro's Level 4 self-driving system globally within six years, starting with a launch in a major US city next year, leveraging advanced vehicle architecture, safety, and scalability.
Lucid Motors' new Gravity SUV has received an official EPA range estimate of 450 miles, surpassing its initial 440-mile projection. Priced at $94,900, with a cheaper version expected in 2025, the Gravity aims to combine sports car performance with comfort while using fewer resources than competitors. Despite technological advancements, Lucid has struggled with sales, hoping the Gravity will boost its market presence in the SUV-dominated North American market.
Lucid Motors has unveiled the 2025 Lucid Gravity SUV, boasting an impressive EPA-certified range of 450 miles, surpassing previous estimates. The Gravity features a 120.0-kWh battery pack, dual-motor powertrain with 828 horsepower, and advanced suspension systems, including optional rear-axle steering and air springs. Production has begun in Arizona, with deliveries expected in the first half of next year. The SUV offers spacious interiors and advanced technology, positioning it as a strong competitor in the electric SUV market.
Lucid Motors has launched its second flagship SUV, the Lucid Gravity, boasting an impressive EPA range of 450 miles. The Gravity combines luxury, technological innovation, and efficiency, offering spacious interiors and advanced features like a multi-chamber air suspension. The SUV is designed to compete with high-end brands by providing a versatile driving experience without compromising on space, performance, or sustainability. The Grand Touring version is now available, starting at $94,900, with a Touring trim expected in late 2025.
Lucid Motors' shares have plummeted nearly 47% this year, closing at $2.21, prompting CEO Peter Rawlinson to reassure investors during the company's Q3 earnings call. Rawlinson emphasized the company's long-term growth strategies and his personal investment in Lucid, highlighting that he hasn't sold shares except for tax purposes. He avoided commenting on whether the Saudi Public Investment Fund, a major stakeholder, might buy out Lucid. Rawlinson owns 18.5 million shares, valued at approximately $41 million.
Lucid Motors has announced that its 2025 Air Pure sedan achieves an unprecedented 5 miles per kWh, making it the most energy-efficient car in the world. The 2025 Air Pure offers an EPA estimated range of 420 miles from an 84 kWh battery pack and features significant upgrades, including a heat pump and enhanced infotainment system. All 2025 Air models will come standard with Lucid's DreamDrive ADAS. The new lineup is now available for purchase.
Lucid Motors has cut 400 jobs, or six percent of its workforce, ahead of the launch of its first electric SUV, the Lucid Gravity. The layoffs are part of a restructuring effort aimed at optimizing resources and positioning the company for future growth. The new SUV, featuring two electric motors and a range of 440 miles, is expected to start at $80,000. This move follows a trend of workforce reductions among major US EV manufacturers, including Tesla, Rivian, and Fisker.
Lucid Motors is laying off about 400 employees, or roughly 6% of its workforce, as part of a restructuring ahead of the launch of its first electric SUV later this year. The restructuring, expected to be completed by the end of the third quarter, will cost between $21 million and $25 million. CEO Peter Rawlinson emphasized the need to remain vigilant about costs and optimize resources to position the company for future success.
Lucid Group will cut 6% of its US workforce, around 400 employees, due to slowing EV demand and cost control measures amid high inflation and interest rates. The layoffs will affect all levels except hourly manufacturing and logistics staff. The company expects related charges of $21-$25 million and aims to complete the plan by Q3 2024. This follows similar moves by Rivian and Tesla. Lucid is also expanding production capacity and planning new models to attract more customers.
Lucid Motors reported higher-than-expected first-quarter deliveries, attributing the increase to price cuts that boosted demand for its luxury electric sedans. The company delivered 1,967 vehicles, surpassing estimates, and plans to ramp up deliveries to Saudi Arabia in the second half of the year. Lucid also announced plans to introduce a mid-size car in 2026 targeting a $50,000 price point, aiming to attract a broader customer base.
Lucid Motors secures an additional $1 billion investment from Saudi Arabia's Public Investment Fund, bringing the Kingdom's ownership stake to around 60%. The funding aims to alleviate the high costs associated with producing and selling its luxury electric sedan, the Air. Despite plans to increase production to around 9,000 vehicles this year and introducing the electric Gravity SUV, the company has faced challenges in finding buyers for its expensive vehicles and incurred significant losses in 2023. CEO Peter Rawlinson expressed caution about relying too heavily on Saudi Arabia for funding.
Lucid Motors plans to produce only 9,000 electric vehicles in 2024, a significant drop from its initial prediction of 90,000, reflecting its struggle with demand and financial losses. The company's CEO aims to improve sales and marketing efforts, with hopes pinned on the upcoming Gravity SUV. Lucid faces supply chain and production challenges, but is banking on new models and technology licensing agreements to boost its prospects, including a deal with Aston Martin and a potential market growth in Saudi Arabia.