Lucid Motors (LCID) has continued its impressive streak of delivering record numbers of electric vehicles in the second quarter of the year. With seven consecutive quarters of increased deliveries, the company has caught the attention of analysts and investors alike. Following a meeting with Lucid’s CEO, one analyst from Benchmark believes that there is significant upside potential for Lucid stock.
In the second quarter, Lucid delivered a total of 3,309 vehicles, setting a new record for the company. Analyst Mickey Legg of Benchmark recently met with Lucid’s CFO, Taoufiq Boussaid, who took over the position earlier this year. After reviewing the company’s performance and production numbers, Legg expressed confidence in Lucid’s ability to scale up. He highlighted Lucid’s substantial liquidity of $5.7 billion, its manufacturing flexibility, and its cutting-edge technology as key strengths. Benchmark has maintained a “Buy” rating for Lucid stock, with a target share price of $5.00.
Despite a recent 10% increase following the Q2 delivery and production numbers, Lucid’s stock price remains down 25% in 2025, trading at $2.30 per share. The company’s delivery numbers have shown consistent growth over the past quarters, with plans to produce 20,000 vehicles by the end of the year.
The flagship model for Lucid, the Gravity electric SUV, has been receiving rave reviews for its performance and features. With a range of up to 450 miles on a single charge, spacious interior, and impressive acceleration capabilities, the Gravity is setting new standards in the luxury electric SUV market.
Looking ahead, Lucid is gearing up to launch its midsize EV platform in late 2026. The company plans to introduce three new models based on this platform, including a midsize electric crossover SUV and sedan priced around $50,000. These new models will directly compete with popular Tesla models like the Model 3 and Model Y.
In the meantime, Lucid will focus on ramping up production of the Gravity SUV. Initial feedback on the vehicle has been overwhelmingly positive, with Lucid’s interim CEO Marc Winterhoff noting that it is the most well-received vehicle he has seen in his 25 years in the automotive industry.
With a solid financial position and promising product lineup, Lucid is well-positioned for future growth in the electric vehicle market. The company ended the first quarter with $5.76 billion in total liquidity, enough to sustain operations until the launch of the midsize platform in 2026. Investors and analysts are optimistic about Lucid’s prospects and the potential for its stock to double in value in the coming years.
