Lucid News Updates

The Saudi Arabia-backed company said Oct. 5 that it assembled 2,954 EVs in the third quarter, down about 24% year over year and a 38% reduction from the previous three-month period.

Lucid is targeting $1.4 billion in cash savings this year in a broad push to reset its operations, an effort by new CEO Silvio Napoli to shore up the money-losing EV maker.

Lucid the electric vehicle maker, said it isn’t considering a bankruptcy, and so far, the market believes it.

Lucid is working with advisers to turn around its struggling business, according to sources, sending the EV maker's shares to their biggest decline on record.

The move is a step toward Uber challenging Alphabet’s Waymo, which has also been a partner of the ride-hailer.

Lucid posted lower-than-expected revenue after a supply chain challenge slowed February vehicle deliveries — another blow for the EV maker.

Lucid Group plans to boost electric vehicle output more slowly in 2026 following a year marked by production struggles and faltering demand for battery-powered vehicles in the U.S.

Lucid Group posted a worse-than-expected third-quarter loss as it grapples with sluggish production of its Gravity SUV and a challenging trade environment.

The move is a step toward Uber challenging Alphabet’s Waymo, whose driverless taxis have become ubiquitous in San Francisco. Road testing is underway.

Eventually the goal is to use Nvidia’s more advanced DRIVE AV platform, which includes a sensor suite of cameras, radar and lidar, to develop Level 4 autonomous vehicle capabilities.