Lucid gross sales inch ahead as EV maker pushes to ramp Gravity manufacturing
Lucid delivered 3,309 autos within the second quarter, a 6% enhance in gross sales from the earlier interval and a brand new gross sales report for the EV maker.
Lucid additionally reported it produced 3,863 autos within the second quarter, almost 1,000 greater than it made within the earlier interval. Lucid produced 2,212 autos within the first quarter and shipped one other 600 further autos to Saudi Arabia for remaining meeting.
The supply and accompanying manufacturing figures present Lucid has maintained — and even made some progress — in an in any other case shaky EV market. Nevertheless, there’s nonetheless a substantial hole to fill if the corporate desires to fulfill its annual manufacturing aim of 20,000 autos. Within the first six months of the 12 months, Lucid produced 6,075 autos — leaving the corporate with a virtually 14,000-vehicle gap to fill.
To fulfill that concentrate on, Lucid must ramp manufacturing of its new all-electric Gravity SUV. The corporate kicked off manufacturing of the Gravity in December 2024, most of which was offered to “staff, household, and mates.”
The shopper combine has began to shift extra to the overall client in latest months. Nevertheless, manufacturing has been slower-than-desired,” CEO Marc Winterhoff advised Automotive Information in an interview in June. The CEO, who changed Peter Rawlinson earlier this 12 months, blamed tariff pressures and a deal with high quality for the gradual begin.
Winterhoff has been fast to quote buyer curiosity within the Gravity, feedback meant to dispel any considerations that there’s a requirement downside.
Through the firm Q1 earnings name in April, Winterhoff famous the corporate encountered a “modest provide chain bottleneck that has impacted its timeline.” He emphasised on the time that “the extra necessary level is that we’re taking the time to get it proper, not simply getting it out.”
He mentioned on the time the availability chain bottlenecks can be being resolved within the second quarter and made plans to make sure the corporate would meet its manufacturing plans for 2025.
Lucid wouldn’t touch upon the supply and manufacturing outcomes, together with the breakdown between its Air and Gravity fashions. A spokesperson famous Lucid will share extra particulars at its upcoming earnings report, which is ready to be launched August 5.
It’s additionally unclear if Lucid’s new firm automotive program and gross sales to rental fleets helped increase its Q2 figures.
Lucid offered the equal of round 300 automobiles within the first quarter to what it refers to as “rental firms,” a footnote in its Q1 regulatory submitting revealed. On the time, Nick Twork, a spokesperson for Lucid Motors, advised TechCrunch that regardless of using the time period, the “overwhelming majority” of the autos referred to within the footnote had been offered to leasing firms and leased again to the automaker as a part of a revamped firm automotive program.