A Lucid Air Grand Touring electric car at the Geneva International Motor Show in Geneva. (Andrey Rudakov/Bloomberg)
February 24, 2026 5:45 PM, EST
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.
The EV maker will produce between 25,000 and 27,000 vehicles this year, Lucid said as it reported a worse-than-expected loss for the fourth quarter. Analysts had expected the company to assemble a little more than 33,000 vehicles in 2026.
The measured outlook follows a difficult year in which the company contended with supply chain challenges including shortages of magnets, aluminum and chips. Still, Lucid managed to roughly double production and ramp up deliveries of its new Gravity SUV.
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Lucid’s shares fell 5.2% at 4:06 p.m. in after-hours trading in New York.
Lucid also revised its 2025 annual production down by more than 500 vehicles to 17,840 EVs for the full year. That means the automaker slightly missed its narrowed annual production target of 18,000 to 20,000 vehicles. The company said the vehicles had not “completed certain internal procedures” for its final validation process but would be counted instead in 2026. The issue does not affect its previously reported financial results, the company said.
Lucid and other EV makers also faced a broader slowdown in demand in the U.S. that worsened late last year following the expiration of a $7,500 tax credit for EV buyers. The company said it planned to continue to “prudently manage and adjust” production to reflect sales and delivery needs in 2026.
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Lucid’s adjusted fourth-quarter loss was $3.08 a share, worse than the $2.68 average deficit estimated by analysts.
