Lucid Motors reported third-quarter revenues of $336.6 million for 2025, up 68% from the same period last year, as vehicle deliveries and production increased. The company narrowed its net loss slightly to $978.4 million from $992.5 million a year earlier, but again trimmed its annual production guidance to around 18,000 vehicles.
The EV maker delivered 4,078 vehicles during the quarter, a 47% increase year-on-year, while producing 3,891 units—116% more than Q3 2024. Approximately 1,000 of the vehicles were produced for final assembly in Saudi Arabia. Despite the growth, Lucid said it continues to face challenges related to supply chain disruptions and the launch of its Gravity SUV.
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Following the quarter, Lucid and its largest shareholder, the Public Investment Fund of Saudi Arabia, agreed to expand a delayed draw term loan facility from $750 million to roughly $2 billion, boosting total liquidity to $5.5 billion from $4.2 billion at the end of September. The facility remains undrawn.
Interim CEO Marc Winterhoff said: “We maintained strong operational momentum this quarter, delivering solid results in both production and customer deliveries. Our team remains intensely focused on ramping up production and addressing the significant supply chain disruptions impacting the entire industry.”
Lucid also highlighted its collaboration with NVIDIA to develop next-generation Level 4 autonomous driving systems and noted a $300 million investment from Uber to integrate the Gravity SUV into autonomous ride-hailing fleets.
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The company announced several executive changes to support global expansion and operational efficiency. Emad Dlala was promoted to Senior Vice President, Engineering and Digital; Erwin Raphael was named Senior Vice President, Revenue; and Marnie Levergood joins as Senior Vice President, Quality. Winterhoff said the leadership changes would help accelerate production and innovation for Lucid’s Gravity SUV and upcoming midsize platform.
