Lucid Motors reported mixed fourth-quarter earnings on Tuesday, missing earnings estimates but beating revenue expectations. The company also gave a preview of its growth plans for 2026, and while it’s certainly growing, this isn’t going to be the year where it hits mass-market volumes.
The California-based EV startup aims to produce between 25,000 and 27,000 vehicles this year. The top end of that range would represent a roughly 50% jump over last year’s production of 17,840 units. That’s significant growth for the company’s two-vehicle lineup. But it’s clearer than ever that Lucid’s path forward—and its potential profitability—rests on the $50,000 midsize crossover that’s set to launch by the end of this year.
“With greater control over production and with an eye towards caution in 2026, as we focus on long term sustainable profitability, we expect to produce between 25,000 to 27,000 vehicles for the year,” Lucid CFO Taoufiq Boussaid said on the automaker’s Tuesday earnings call.
Photo by: Patrick George
On Tuesday, interim CEO Marc Winterhoff said the majority of that production would be Gravity SUVs. After a rocky start to Gravity production last year due to both hardware and software issues, things seemed to smooth out by the final quarter of 2025.
Despite selling some amazingly engineered cars, Lucid has struggled to scale up sales, due in part to the high-end segments it plays in and a lack of brand awareness. The Air, the 500-mile EV that put Lucid on the map in 2021, is hamstrung by its sedan form factor. And it looks like the three-row Gravity won’t be the ticket to serious volumes either. It appears that in 2026 Lucid doesn’t plan to grow its quarterly output past the roughly 8,000 units it built in Q4.
The company’s upcoming $50,000 midsize crossover is its best bet to reach higher volumes and claw its way to profitability. (Rivian is embarking on a similar challenge with the R2 crossover launching next quarter.) In the meantime, Lucid has had to resort to cost-cutting measures. The Saudi-backed company laid off 12% of its U.S. workforce last Friday, in a move that it said will cut $500 million in costs over three years.
Photo by: Lucid Motors
But competition for the midsize EV is will be steeper than ever. With vehicles like the BMW iX3, Mercedes-Benz GLC and Rivian R2 coming to market in the coming months, whether the new vehicle can truly take off as Lucid needs it to remains an open question. Winterhoff reaffirmed Lucid’s intention to start making midsize vehicles by the end of 2026, but said it wouldn’t be produced in meaningful volumes this year.
Winterhoff said the company would share more on its midsize EV plans at its investor day on March 12.
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