Lucid Motors‘ VP of communications addressed shareholders directly on social media Thursday, a day after the electric vehicle maker’s stock reached a new all-time low amid mounting investor concerns about the company’s path to profitability.
“$LCID investors: we know it’s been a challenging period for our long-term holders. We are focused on execution and being transparent,” Nick Twork wrote on X.
Lucid shares fell to $11.09 on Wednesday, extending losses from earlier in the week when the stock first breached its previous record low.
The company’s market capitalization has shrunk to approximately $3.6 billion from a peak of $90 billion in November 2021 — a drop of 96%.
As of press time, the stock was trading nearly 6% higher at $11.79.
Liquidity Position
Twork emphasized the company’s financial position, citing Chief Financial Officer Taoufiq Boussaid’s previous comments on liquidity.
“As our CFO Taoufiq has said, we have a strong liquidity runway, including an undrawn $2B PIF credit facility, and we refinanced $2B of converts this year, extending maturities to 2030/31,” Twork wrote.
Lucid disclosed in early November that its majority shareholder, Saudi Arabia’s Public Investment Fund, agreed to increase a delayed draw term loan credit facility from $750 million to approximately $2 billion.
PIF holds roughly 60% of Lucid’s shares.
Interim Chief Executive Officer Marc Winterhoff said last week the company is funded through “well into 2027” and will return to capital markets “when it’s opportune.”
Product Momentum
Twork pointed to recent product recognition and the company’s upcoming midsize vehicle platform as reasons for optimism.
The first — of three — models under the platform is planned to be unveiled in the first half of next year, with production and official launch starting in “late 2026.”
“While the EV market is volatile, we’re building through it and ramping while others pull back,” he wrote.
“This week, Lucid Air and Lucid Gravity were the only EVs named to Car and Driver’s 10Best list. Our capital deployment remains disciplined, midsize is coming, and it will bring Lucid to many more drivers globally.”
The executive also teased the upcoming investor event. “More at Capital Markets Day in Q1. Grateful to our long-term shareholders and customers who keep pushing us forward.”
Production and Sales
The company has twice reduced its 2025 production guidance this year and is now focused on ramping Gravity SUV output, which Boussaid said will represent “the majority of our production and our sales” in the fourth quarter.
The CFO said earlier this month that Lucid will register a new sales record in the final quarter of 2025 as orders trend in line with expectations.
“There is definitely some seasonality. So we tend to compare versus last year, obviously, versus previous quarter. So as it trends now, I mean, we will see quarter-over-quarter growth,” Boussaid said.
