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Lucid Misses Revenue Expectations After Delivery Disruptions
Automaker Cites Supplier Quality Issue Affecting Gravity SUV Deliveries in February
Lucid Group posted lower-than-expected revenue after a supply chain challenge slowed February vehicle deliveries — another blow as the electric vehicle maker continues to navigate production concerns.
The company reported first-quarter revenue of $282.5 million, the company said in a statement May 5, worse than the $389.2 million expected by analysts surveyed by Bloomberg.
Lucid’s results were impacted by a seat supplier issue that “significantly affected” deliveries for Lucid Gravity SUVs in February, the automaker said. It had previously disclosed the issue when it released its first quarter production numbers last month, noting that it produced 5,500 vehicles and delivered 3,093. At the time, the company noted deliveries were disrupted for 29 days due to a supplier quality issue, but reaffirmed its annual production guidance of 25,000 to 27,000 vehicles for the year.
Lucid’s 2025 was marked by production challenges, supply chain impacts and rising costs as the Trump administration imposed tariffs and unwound policies supporting EV demand. On May 5, Lucid noted it was “taking further steps to align production with anticipated deliveries and customer demand,” without specifying what those were.
The results come as Lucid’s first permanent CEO in over a year, Silvio Napoli, takes the helm of the automaker in a challenging moment for the EV industry.
Lucid, one of few pure-play EV makers in the U.S., makes two vehicles, a luxury Air sedan and the Gravity SUV. It aims to launch production on its midsize vehicle platform later this year. The company has also increasingly focused on autonomy, including a robotaxi partnership with Uber Technologies.
