Lucid Motors said in early April that it produced 2,212 vehicles in the first three months of the year, while “over 600 additional vehicles” were in transit to Saudi Arabia for final assembly.
At the earnings conference call held on Tuesday, the company’s interim CEO Marc Winterhoff, said those 600-plus units “will be counted toward production in Q2.”
Amid the first quarter results, Lucid said it continues to target “approximately 20,000” vehicles produced in 2025, which would represent a 121.5% increase from the 9,029 units produced last year.
Given that Lucid produced 2,212 vehicles between January and March, the EV maker expects to produce about 17,788 vehicles from April until the year-end. The result would represent an average of over 5,900 units produced in each of the three remaining quarters of the year.
Asked about the ramp up of the Lucid Gravity SUV, Marc Winterhoff revealed the company faced a “modest supply chain bottleneck,” which impacted the model’s launch timeline.
“While we encountered a modest supply chain bottleneck, that has impact on our timeline, the more important point is that we’re taking the time to get it right not just getting it out,” the interim CEO stated.
However, the executive said the company “has line of sight that all the supply chain bottlenecks are being resolved in Q2,” noting Lucid “made plans to ensure capability to still produce the number of Lucid gravities we initially expect for 2025.”
Winterhoff also revealed that the company “recently delivered the very first Lucid Gravity Dream Edition” adding that “deliveries continue today, and we expect to start ramping further soon” without disclosing further details.
The company released the results a few minutes after Rivian, another U.S. EV maker, which lowered 2025 delivery target from 46,000-51,000 to 40,000-46,000.
Over the last weeks, Stellantis, Mercedes-Benz, Volkswagen, GM and Volvo suspended their respective annual financial guidance amid growing tariff uncertainty.
The company reported a first-quarter loss per share of $0.20, narrowing slightly from analysts’ expectations of a $0.23 loss.
Net loss improved 46% year over year to $366.17 million and about 8% when compared to the final quarter of 2024.
A few hours before reporting the results, the company announced the appointment of two vice presidents and two senior vice presidents, replacing some of the executives who left Lucid over the last months.
As reported earlier this Tuesday, Lucid saw its German sales fall for the sixth consecutive month in April. In the Netherlands, where its European headquarters are located, the brand sold one car, down from the 12 recorded in March.
