The California-based EV maker wrapped up 2025 with its strongest numbers yet, delivering 15,841 vehicles and doubling its production output from the previous year. After a rocky start with its new Gravity SUV, Lucid Motors found its footing in the second half of the year and finished on a high note.

• Lucid increased its deliveries by 55% to 15,841 vehicles in 2025.
• The company manufactured 18,378 vehicles for the year, a 104% increase over 2024.
• A more affordable mid-size electric car starting at around $48,000 to $50,000 is planned for 2026.

Record-Breaking Fourth Quarter Powers 2025 Results

When Lucid delivers nearly 16,000 electric vehicles in 2025, you know something clicked in that factory. In the fourth quarter of 2025 alone, the company delivered 5,345 vehicles, marking a 31% rise compared to the third quarter when Lucid first surpassed the 4,000-vehicle mark in a single quarter.

That Q4 performance also represented a 72% increase over the 3,099 vehicles delivered in the fourth quarter of 2024. The factory was running hot. Lucid produced 8,412 vehicles in the fourth quarter of 2025, a 116% increase compared to Q3 2025 and a 148% rise over Q4 2024.

Those raw numbers are Lucid’s best yet, as the company built 8,412 vehicles in the fourth quarter alone, more than it managed in the entire first half of the year.

The Gravity Effect

Lucid likely benefited primarily from the first full year of deliveries for its second model, the Lucid Gravity. This three-row electric SUV became available for orders in the fall of 2024 and was expected to bring a wave of new buyers to the brand.

A lot of 2025’s story revolves around the Gravity SUV. Lucid struggled early in the ramp with supply chain bottlenecks, software integration issues, and quality snags specific to the new platform. Things got messy enough that interim CEO Marc Winterhoff emailed customers in December to acknowledge “lingering software problems” and say he shared their frustration.

By the end of the year, things were getting sorted out, and Gravity really boosted Q4 sales. The introduction of a more affordable Gravity Touring trim, priced at about $79,900, made a big difference.

Over 75% of Gravity orders came from people who don’t own a Lucid Air, meaning the company is now appealing to a new customer base looking for a large luxury EV with headline-making features.

Meeting Revised Goals

The production output slightly exceeded the board’s recently revised forecast of 18,000 units, but remained below the original target of 20,000 units. Still, considering where Lucid started the year, beating any target feels like a win.

The numbers still pale in comparison to the projections Lucid threw around when it went public in a $4 billion reverse merger in 2021. At that time, the company claimed it would deliver 135,000 vehicles in 2025. Reality turned out to be quite different.

In August, Interim CEO Marc Winterhoff said the company was “not where we want to be” when it came to Gravity production. He called out supply chain hiccups like the export ban of permanent-magnet motors from China but said he expected production to accelerate through the end of the year.

What Comes Next for Lucid

Lucid plans to expand its portfolio further by introducing a much more affordable model: a mid-size electric car. According to previous statements from management, this model is expected to start at around $48,000 to $50,000 and could compete with Tesla’s Model Y.

The unveiling of this third Lucid model is planned for summer 2026, with production potentially starting at the end of 2026 and deliveries beginning in 2027.

At the end of September, Lucid had about $4.2 billion in cash and assets. Since then, it has made a new deal with the Public Investment Fund of Saudi Arabia. This deal gave Lucid access to more credit, bringing its total liquidity to about $5.5 billion. According to the company, this is enough money to keep the lights on and the factory running until the middle of 2027.

Picking the Right Moment to Watch Lucid

Lucid’s 2025 results show a company that’s finally hitting its stride after some early stumbles. The doubling of production and 55% jump in deliveries suggest the Arizona factory is finding its rhythm. With the Gravity now ramping up and a more affordable mid-size model on the horizon, the next few years will determine whether Lucid can turn these improving numbers into a self-sustaining business. The company will report its fourth quarter financial results on February 24. That earnings call should give buyers and investors alike a clearer picture of where Lucid is headed in 2026 and beyond.