Lucid Posts $2.7B Net Loss in 2025; Slows Production Growth in 2026

U.S. electric vehicle maker Lucid Group recently released its 2025 financial results: the company reported a full-year net loss of $2.7 billion, roughly in line with 2024, while revenue reached $1.35 billion, up 68% year-over-year. As of year-end, Lucid held approximately $4.6 billion in liquidity, describing its financial position as "strong." To improve efficiency, Lucid recently cut 12% of its workforce and explicitly stated it would not implement further layoffs in the near future. Due to internal validation processes, the company slightly lowered its 2025 production target to 17,840 vehicles, though this adjustment did not impact its financial figures. Citing ongoing supply chain constraints and tariff-related challenges, Lucid forecasts 2026 production between 25,000 and 27,000 vehicles—a roughly 50% year-over-year increase, significantly slower than the nearly doubling growth seen in 2025. The company described this outlook as "prudent and conservative." Its primary models remain the Gravity SUV and Air sedan, and Lucid plans to begin production of a new midsize vehicle by year-end, although this model is expected to contribute minimally to 2026 output. Additionally, Lucid continues advancing its autonomous ride-hailing initiative, with core strategic priorities centered on improving operational efficiency, expanding sales, and paving the way for mass production of new products. However, the company has still not provided a clear timeline for achieving profitability.