Lucid Motors produced 2,954 electric vehicles in Q3 2026, down 54% from a year earlier, as it intentionally limited output to better match weak demand. This marks the third consecutive quarter of declining production and the lowest since early 2025. Despite delivering 3,806 EVs, Lucid has struggled to sell its luxury models, often building more cars than it delivers. New CEO Silvio Napoli is simplifying operations, including layoffs and factory shift cuts, aiming to save $1.4 billion. The company also delayed its more affordable third EV, the Cosmos, to avoid past mistakes. Lucid’s challenges contrast with competitors like Rivian, which recently posted record deliveries with its cheaper SUV. The company’s initial 2021 promise to ship 90,000 EVs in 2024 remains unmet, reflecting ongoing execution and market challenges.
Lucid Group Inc (LCID) shares trade at USD 4.16 with a modest 0.73% gain as of Oct 06, 2026 05:01 WIB, reflecting cautious investor sentiment amid production cuts. In contrast, Rivian Automotive (RIVN) is priced higher at USD 14.59 and shows stronger momentum with a 2.03% rise, trading closer to its 52-week low of USD 12.50 than its high of USD 22.45. Rivian's full buy-side order activity on Pluang and longer typical hold time of 61 days highlight more investor confidence compared to Lucid's $1.54 billion market cap and shorter 45-day hold period.
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