Lucid sees slower 2026 production growth as fear of supply-chain snags lingers
Lucid is ramping up production of its recently launched Gravity sport utility vehicle and preparing to introduce a new midsize EV platform later this year
25 February, 2026
TT
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Lucid forecast slower production growth for 2026 and reported a larger-than-expected fourth quarter loss on Tuesday, as supply chain disruptions and tariffs continued to weigh on its manufacturing plans and costs.
Shares of Lucid fell 5 per cent in after-market trading.
The electric vehicle maker said it expects to produce between 25,000 and 27,000 vehicles in 2026, compared with 17,840 vehicles in 2025, when output nearly doubled. Chief executive Marc Winterhoff said the company was taking a conservative approach to its forecast, noting that long supply chains remain vulnerable to disruption.
“Supply chains, in particular long supply chains like we have, are always prone to surprises,” Winterhoff said. “That is a learning from 2025. Let’s be prudent. Let’s make a plan that, whatever happens, so to speak, we can hit.”
Lucid is ramping up production of its recently launched Gravity sport utility vehicle and preparing to introduce a new midsize EV platform later this year, with a starting price expected below $50,000. The model is viewed as key to broadening the company’s customer base beyond the luxury segment.
Winterhoff said the company’s outlook does not factor in any potential impact from larger rival Tesla halting production of its flagship Model S sedans and Model X SUVs.
The company has faced higher tariffs on imported auto parts, a global chip shortage, uncertain supplies of rare earth materials and a fire at an aluminum supplier in September.
Those challenges, along with a strategic commitment to Saudi Arabia, prompted Lucid to begin production of its midsize platform at its plant in the kingdom before bringing output to the United States.
Lucid deal with Saudi Arabia
Saudi Arabia has signed an agreement to purchase up to 100,000 vehicles from Lucid over a 10-year period.
Lucid said the production constraints contributed to a wider-than-expected fourth quarter loss. For the quarter ended December, revenue rose 123% to $522.7 million, exceeding analysts’ average estimate of $468m, according to LSEG data.
The company posted an adjusted loss of $3.08 per share, compared with estimates for a loss of $2.62 per share.
Last week, Lucid said it would cut 12 per cent of its US workforce as it seeks to reduce costs in a challenging EV market following the end of the $7,500 federal tax credit for new electric vehicles in September. The layoffs are expected to save about $500m over the next three years.
Lucid ended the quarter with $4.6bn in liquidity and projected capital expenditures of between $1.2bn and $1.4bn in 2026.
The company is also investing in its advanced driver-assistance systems and software and plans to launch a robotaxi fleet in partnership with Uber and self-driving technology startup Nuro.
Winterhoff said on a call with analysts that autonomy could expand Lucid’s total addressable market to about $700bn by 2035.


















