Lucid Motors EV Output Falls to Near Two-Year Low as CEO Cuts Workforce and Targets $1.4 Billion in Savings
Lucid Motors produced just 2,954 electric vehicles in the third quarter of 2026, a 54 per cent drop year-over-year and the company’s lowest quarterly output in nearly two years, according to figures released this week. TechCrunch
The result marks a third consecutive quarter of declining production. Deliveries came in at 3,806 vehicles for the period; roughly flat with Q2 2026, but Lucid has now built more vehicles than it has delivered in five of the past six quarters, signalling persistent demand challenges.
The numbers stand in stark contrast to the company’s ambitions at its 2021 SPAC debut, when Lucid projected 90,000 shipments for 2024 alone. Instead, the automaker has spent recent months laying off approximately 1,500 employees, eliminating a second production shift at its Arizona factory, and targeting $1.4 billion in cost savings.
CEO Silvio Napoli acknowledged that the company had launched unfinished products and allowed internal complexity to slow decision-making. Lucid’s more affordable Cosmos EV has been delayed, while rival Rivian shipped around 20,000 vehicles in the same quarter.
Read our previous article on Automobile news here.
