Lucid Motors reported on Tuesday its fourth-quarter earnings results, saying it expects to manufacture between 25,000 and 27,000 electric vehicles in 2026, up from the 18,378 produced last year.
The guidance would imply an increase of between 36 and 47% over 2025 as the company continues ramping up its Gravity SUV, prepares to launch its third model on a new mid-size platform, and nears full manufacturing operations at its Saudi Arabian plant.
However, the EV maker revised its previously announced 2025 production figures.
The company revised its Q4 production figure down from the 8,412 units it had preliminarily reported on January 5, after management determined that 538 vehicles had not completed certain internal procedures required under its final validation process to be classified as produced.
The vehicles are expected to complete validation in 2026.
Lucid said the revision relates solely to the timing of when vehicles are classified as produced and does not affect previously reported financial results.
“Lucid today also announced its 2026 annual production guidance of 25,000 – 27,000 vehicles and will continue to prudently manage and adjust production to meet sales and delivery needs,” the company said on Tuesday.
Production and Deliveries
Lucid delivered 5,345 vehicles in Q4 while producing 8,412 units in the quarter, more than double the 3,386 produced in Q4 2024 and up 116% from 3,891 in Q3 2025.
The fourth-quarter production surge reflected the ongoing ramp-up at Lucid‘s Casa Grande, Arizona, plant as Gravity issues eased.
For full-year 2025, Lucid delivered 15,841 vehicles and produced 18,378 units, compared with 10,241 deliveries and 9,029 produced in 2024.
Deliveries rose 55% year over year, while production more than doubled, up 104%.
The company reached its revised production guidance of approximately 18,000 units after lowering the target twice during the year.
Lucid began 2025 with a goal of 20,000 vehicles, reduced the range to between 18,000 and 20,000 in August, then cut it further to approximately 18,000 in November.
Through the first three quarters, Lucid delivered 10,496 vehicles: 3,109 in Q1 (+58% YoY), 3,309 in Q2 (+38% YoY), and 4,078 in Q3 (+47% YoY).
Supply Chain Recovery
In mid-December, interim CEO Marc Winterhoff said he was “very confident” Lucid has resolved the supply chain issues that hampered production of its Gravity SUV throughout 2025.
The company faced three consecutive supply disruptions during the year that slowed the ramp-up of its second model: a magnet shortage in Q2, an aluminum supplier fire, and a chip shortage.
The fourth-quarter production figure of 8,412 units — nearly as many as the first three quarters combined.
Manufacturing Expansion
Lucid currently manufactures all its vehicles at its Casa Grande, Arizona, plant.
However, it is assembling vehicles destined for the Middle East at its facility in King Abdullah Economic City, Saudi Arabia.
The company expects the Saudi plant’s transformation into a complete manufacturing facility to be concluded late this year, coinciding with the planned launch of its third model.
Once fully operational and ramped up, the plant will have the capacity to produce up to 150,000 vehicles per year.
Full production in Saudi Arabia would allow Lucid to avoid tariffs imposed by the US administration, as the company plans to expand into new markets across the Gulf Cooperation Council region.
The facility is backed by Saudi Arabia’s Public Investment Fund, which has invested approximately $9 billion in Lucid since 2018.
Mid-Size Platform
Lucid has said it remains on track to begin production of its more affordable mid-size platform vehicle in the second half of 2026, with starting prices around $50,000.
The model is designed to compete in a significantly larger market segment than the Air sedan and Gravity SUV, which start at $69,900 and $79,900 respectively.
