Lucid Group said it plans to double vehicle production in 2025 and expand into new international markets, including Europe and the Middle East, as part of a broader global growth strategy. The announcement follows the company’s fifth consecutive quarterly delivery record, with 3,140 vehicles handed over in the first quarter and 2,213 units produced at its Arizona-based facility.
Interim CEO Marc Winterhoff confirmed the expansion plans during the Saudi-U.S. Investment Forum on Tuesday, noting that Lucid will enter additional markets in the Middle East this year. “We have started Abu Dhabi and we’re looking into Qatar and other additional markets coming very soon,” Winterhoff told Bloomberg. The executive also said the company intends to accelerate deliveries of Saudi-assembled EVs starting next year, with exports to Europe and parts of Asia, excluding China.
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Lucid began assembling its Air luxury electric sedan at its Saudi Arabia-based AMP-2 factory in September 2023 and plans to complete a second plant in the Kingdom by 2026. The new facility is expected to have an annual production capacity of 150,000 vehicles. A potential local battery manufacturing initiative is also under consideration, though no firm details were disclosed.
The company reported that 600 vehicles were in transit to Saudi Arabia at the end of the first quarter and will be recognized in second quarter figures. Despite earlier delivery delays in the Kingdom due to a system change—since resolved—Lucid maintained momentum and aims to reach 20,000 units in production this year, up from 9,000 in 2024.
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Lucid’s senior vice president, Adrian Price, recently announced that the next batch of Gravity SUV models is ready for export to Saudi Arabia. The Gravity Grand Touring model is priced from $94,900 in the U.S., offering a range of up to 450 miles, while a more affordable Gravity Touring trim is expected later this year, starting at $79,900.
Backed by Saudi Arabia’s Public Investment Fund, which holds a 60% stake in the company, Lucid reported $5.76 billion in liquidity at the end of the first quarter. The EV maker believes it has sufficient funding to support operations into the second half of 2026, when it plans to introduce a more affordable midsize vehicle platform.
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Lucid shares have gained more than 15% since the release of first-quarter earnings on May 6, though the stock remains down 12% year-on-year, trading at around $2.76.