{"id":82257,"date":"2025-05-06T16:59:03","date_gmt":"2025-05-06T20:59:03","guid":{"rendered":"https:\/\/autosector.com\/?p=82257"},"modified":"2025-05-06T16:59:03","modified_gmt":"2025-05-06T20:59:03","slug":"lucid-lcid-plans-double-ev-production-2025-despite-tariffs","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=82257","title":{"rendered":"Lucid (LCID) plans to double EV production this year, even with tariffs"},"content":{"rendered":"
\n\t\"Lucid-EV-production-2025\"<\/figure>\n

Lucid Motors<\/a> (LCID) reported first-quarter earnings on Tuesday, reaffirming its plans to more than double EV production in 2025. Despite the threat of new tariffs, the EV maker expects to continue building momentum after another record quarter.<\/p>\n

<\/p>\n

Lucid stands by 20,000 EV production goal for 2025<\/h2>\n

In the first three months<\/a> of 2025, Lucid delivered 3,109 vehicles, setting its fifth straight quarterly record. The company\u2019s production is also picking up, with 2,213 vehicles built at its Casa Grande plant in Arizona. Another 600 were in transit to Saudi Arabia, where they will be assembled at Lucid\u2019s new AMP-2 <\/a>plant.<\/p>\n

At this rate, Lucid is on track to deliver around 12,500 vehicles, easily topping the 10,200 vehicles it delivered in 2024.<\/p>\n

With its first electric SUV, the Gravity<\/a>, now rolling out, Lucid is poised to see even more demand throughout the year.<\/p>\n

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Lucid reported first-quarter revenue of $235 million, up slightly from the $234.5 million in Q4 2024 and an increase of 35% from Q1 2024.<\/p>\n

Despite higher sales, the EV maker cut its net loss to $366 million from over $680 million in the first quarter of 2024. Lucid also improved gross margins by 37 pts year-over-year (YOY) to -97%.<\/p>\n

\"Lucid-EV-production-2025\"
Lucid Q1 2025 financial earnings results (Source: Lucid Group)<\/figcaption><\/figure>\n

Even with the added tariffs, Lucid still expects to produce around 20,000 vehicles in 2025, more than double the roughly 9,000 cars it made last year.<\/p>\n

Like most automakers, Lucid is preparing for a shakeup under the Trump administration, including possibly ending the $7,500 federal EV tax credit<\/a>. Earlier today, Republican House Speaker Mike Johnson said there\u2019s \u201ca better chance we kill it than save it\u201d during an interview.<\/p>\n

\"Lucid-EV-production-2025\"
Lucid Gravity electric SUV at a Tesla Supercharger (Source: Lucid Motors)<\/figcaption><\/figure>\n

The company said, \u201cA thorough analysis of tariffs, supply chain, and related macroeconomic uncertainties is ongoing.\u201d<\/p>\n

Lucid ended the first quarter<\/a> with around $5.76 billion in total liquidity, which the company said is enough to fund it into the second half of 2026, when it plans to launch its midsize platform.<\/p>\n

\"Lucid-midsize-EV-SUV\"
Lucid midsize electric SUV teaser image (Source: Lucid)<\/figcaption><\/figure>\n

Former CEO Peter Rawlinson said earlier this year that Lucid\u2019s midsize platform is \u201cfinally when we compete directly with Tesla.\u201d The first two vehicles are expected to be an electric SUV and sedan, starting at around $50,000, which could rival Tesla\u2019s Model Y and Model 3.<\/p>\n

But first, it will focus on its new electric SUV. The Lucid Gravity Grand Touring is available to order<\/a> starting at $94,900 with up to 450 miles of range. Later this year, Lucid will launch the lower-priced Touring trim, starting at $79,900.<\/p>\n

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FTC: We use income earning auto affiliate links.<\/em> More.<\/a><\/p>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Lucid Motors (LCID) reported first-quarter earnings on Tuesday, reaffirming its plans to more than double EV production in 2025. Despite the threat of new tariffs, the EV maker expects to continue building momentum after another record quarter. Lucid stands by 20,000 EV production goal for 2025 In the first three months of 2025, Lucid delivered […]<\/p>\n","protected":false},"author":1,"featured_media":8313,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[],"class_list":["post-82257","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-e-cars"],"_links":{"self":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/82257","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=82257"}],"version-history":[{"count":0,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/82257\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/media\/8313"}],"wp:attachment":[{"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=82257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=82257"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=82257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}