Lucid Motors will report second-quarter earnings after the market closes on Tuesday, August 5, alongside fellow US electric vehicle maker Rivian.
As in previous quarters, Lucid is collecting shareholder questions through the Say Technologies platform, with the top-voted ones set to be addressed by interim CEO Marc Winterhoff and CFO Taoufiq Boussaid during the earnings call.
With 12 hours remaining before the platform stops accepting submissions, over 700 questions were gathered, with the most upvoted one — counting 2,300 votes representing 4.1 million shares — asks: “Is there going to be a reverse stock split in the near future?”
The query follows Lucid’s mid-July announcement of a 1-for-10 reverse stock split, which aims to reduce the number of authorized shares by 90% while proportionally boosting the share price.
The EV maker cited institutional eligibility thresholds as a key reason, with Winterhoff telling Bloomberg that “some institutions cannot buy stocks below a certain threshold.”
He also dismissed speculation that the move was motivated by concerns over delisting, adding that Lucid was “nowhere close” to breaching Nasdaq’s $1 minimum bid requirement.
Lucid shares, which fell to $1.93 in November and touched $1.98 on the first day of July, had rebounded following the July 17 announcement of a partnership with Uber and autonomous driving startup Nuro.
Under the deal, Lucid will supply 20,000 of its Gravity SUVs to Uber over six years for use in a robotaxi fleet. However, the stock has since retraced those gains and closed Friday at $2.42.
The second most popular question asks where the company is projected to be in five years, garnering over 2,100 votes tied to 3.7 million shares.
“Where is Lucid projected to be in 5 years?” the retail shareholders asked.
The third and fifth most voted questions also focus on the Uber-Nuro partnership announced in mid-July, asking for more details on how it will aid company growth and when it will take effect.
While Lucid has confirmed that Uber will operate the fleet, it has not revealed details of the partnership’s financial impact.
Another highly ranked question—representing over 5 million shares—concerns the Gravity SUV: “How many current Gravity orders are there?”
While the vehicle is expected to play a major role in Lucid’s expansion, the company has not disclosed order figures or detailed production guidance.
In an interview in late June, Winterhoff acknowledged delays in the Gravity ramp-up, citing “industry-wide tariff pressures” and Lucid’s prioritization of delivering “perfect quality.”
“In the meantime, Lucid is ramping up production of the Gravity, which has gone more slowly than desired,” he said.
According to Motor Intelligence data released Friday, Lucid sold 890 vehicles in the U.S. in July, up 28% year over year and slightly above the 840 sold in June. However, the Gravity was not listed among July deliveries, with zero units recorded.
The most recent target remains 20,000 combined deliveries for both the Air sedan and Gravity SUV in 2025. When reporting its second quarter results, the Newark-based EV maker is expected to give an update on the annual guidance.
Lucid is also progressing toward the launch of a new midsize platform that will underpin three future models.
The first two will be introduced “close together, starting with the first in late 2026,” Winterhoff has said.
The seventh most upvoted question asks whether that midsize platform timeline could be brought forward to 2026 or 2027 and whether the purchase of Nikola’s headquarters and manufacturing plant — also located in Arizona — will affect the schedule.
“Is the midsize platform still on target for production late 2026? Are deliveries expected to start in 2026 or 2027?” the retail shareholder asks. “Did the acquisition of the Nikola facilities allow midsize to be brought forward at all?”
A separate question asks for an update on Lucid’s path to profitability. Shareholders are pressing for clarity on key milestones and the company’s timeline to achieve positive free cash flow.
As of Monday morning’s pre-market session, Lucid shares were trading up 2% at $2.47.
According to Motor Intelligence, the California-based company delivered 890 units of its Air sedan in July, a 28% increase from the prior year and the third-highest monthly total of 2025, trailing only March and May.
