Lucid Motors (LCID) recently announced its first-quarter earnings, confirming its plans to increase EV production in 2025. The company aims to more than double its production this year, despite facing potential new tariffs. With another record-breaking quarter under its belt, Lucid is optimistic about its future growth.
In the first three months of 2025, Lucid delivered 3,109 vehicles, marking its fifth consecutive quarterly record. Production is also on the rise, with 2,213 vehicles manufactured at its Casa Grande plant in Arizona and another 600 in transit to Saudi Arabia for assembly at Lucid’s new AMP-2 facility. It is projected that Lucid will deliver around 12,500 vehicles by the end of the year, surpassing the 10,200 vehicles delivered in 2024.
The introduction of the Gravity electric SUV has further fueled demand for Lucid vehicles. The company reported a first-quarter revenue of $235 million, showing a slight increase from the previous quarter and a 35% growth compared to the same period last year. Lucid also managed to reduce its net loss to $366 million, a significant improvement from the first quarter of 2024.
Despite the challenges posed by potential tariffs and regulatory changes, Lucid remains committed to its goal of producing around 20,000 vehicles in 2025. The company is closely monitoring the evolving landscape and is prepared to adapt to any changes that may arise. With a total liquidity of $5.76 billion, Lucid is well-positioned to fund its operations until the second half of 2026, when it plans to launch its midsize platform.
Former CEO Peter Rawlinson has outlined the company’s future plans, which include the development of an electric SUV and sedan priced around $50,000 to compete directly with Tesla’s offerings. The Lucid Gravity Grand Touring, with a starting price of $94,900 and up to 450 miles of range, is currently available for order. Later this year, Lucid will introduce the lower-priced Touring trim, starting at $79,900.
Overall, Lucid Motors is optimistic about its growth prospects and remains focused on expanding its product lineup and production capacity to meet the increasing demand for electric vehicles. With a strong financial performance and a clear roadmap for the future, Lucid is poised to make a significant impact in the EV market.
