Track market-moving stories before they get noisy

Lucid stock has cratered while rivals like Tesla and Rivian held their ground, and the company's latest financials reveal a tension between surging revenue and an alarming cash burn that puts every investor's next move under pressure.

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Lucid Group (NASDAQ:LCID | LCID Price Prediction) stock has fallen 33% over the past month to $4.70, leaving investors to decide whether the sharp decline represents a warning sign or a potential opportunity. Lucid stock has severely lagged several major electric-vehicle names, with the latest drop coming as the company works through an operational reset while trying to conserve cash and build demand.

Lucid’s second-quarter results provide arguments for both sides. The automaker generated $405 million of quarterly revenue, up 56% year over year, while deliveries rose 19% to 3,953 vehicles, but Lucid also reported a major cash-burn problem and acknowledged the need to reduce production and inventory.

Lucid Stock Has Fallen Far Behind Its Peers Lucid stock’s 33% one-month decline looks particularly painful next to the performance of other electric-vehicle stocks. Rivian Automotive (NASDAQ:RIVN) stock is up 0.87% over the same period to $16.14, while Tesla (NASDAQ:TSLA) stock is up 11% to $366.11.

Tesla has also been dealing with uneven electric vehicle (EV) demand, including a slowdown in the growth of China-made vehicle sales during August, but Tesla’s scale and broader business give Tesla stock a very different risk profile from Lucid stock. Rivian likewise has a larger production base, leaving Lucid with a much smaller margin for execution mistakes as Lucid tries to reach the next stage of its growth plan.

The EV ETF Has Held Up Better The broader EV and autonomous-driving theme hasn’t suffered nearly as much as Lucid stock. The Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV) is down 2% over the past month to $34.89, meaning Lucid stock has underperformed the thematic ETF by a wide margin.

The DRIV ETF offers exposure across electric vehicles, autonomous-driving technology, components and related materials, which gives investors a much broader basket than a concentrated bet on Lucid. Tesla is among DRIV’s holdings, while the fund also includes companies such as NVIDIA (NASDAQ:NVDA) and Alphabet (NASDAQ:GOOGL), underscoring how much broader the autonomous-vehicle investment theme has become.

Lucid Has a Real Bull Case Lucid has several developments that could eventually support a recovery in Lucid stock. Lucid’s Gravity program is progressing, the company is working with Uber and Nuro on robotaxi testing, and Lucid has identified $1.4 billion of potential 2026 cash-flow improvements while targeting a midsize vehicle program for future growth.

However, Lucid’s financial position remains the biggest concern. Lucid ended the second quarter with $3 billion of total liquidity, but Lucid’s free cash flow was negative $1.476 billion, and management intentionally reduced production to lower inventory and preserve cash.

Selling Could Still Be The Safer Choice Lucid stock could rebound if the company’s cost-cutting efforts work, Gravity gains traction and the midsize vehicle program expands the addressable market. Investors may want to watch for whether Lucid can reduce cash burn while improving deliveries, because stronger revenue alone may not be enough to change the investment case.

However, the 33% monthly decline reflects serious concerns that may not disappear quickly. Investors who choose to hold Lucid stock should consider keeping their position sizes moderate, while investors without an existing position may prefer waiting for clearer evidence that Lucid’s operational reset is translating into stronger financial results.

Contact [email protected] for any questions or corrections.

Die operative Partnerschaft verbindet die direkte Marktpräsenz von Lucid mit der bewährten Fachkompetenz von Emil Frey France im Automobilbereich und als Importeur. Gemeinsam werden die beiden Unternehmen auf dem französischen Markt ein außergewöhnliches Kundenerlebnis bieten. Französische Kunden können den Lucid Air 1 und den Lucid Gravity 2 im Oktober auf dem Pariser Autosalon erstmals hautnah erleben. , /PRNewswire/ -- Die Lucid Group, Inc. (NASDAQ: LCID), Hersteller der fortschrittlichsten softwaredefinierten Fahrzeuge und Technologien der Welt, gab heute eine operative Partnerschaft mit Emil Frey, einem der führenden Automobilkonzerne Europas, bekannt, um den Markteintritt von Lucid in Frankreich zu unterstützen. Durch diese Zusammenarbeit werden die Importaktivitäten von Lucid mit der umfassenden Fachkompetenz im Automobilbereich und den operativen Kapazitäten von Emil Frey France vereint, wodurch ein Modell entsteht, das darauf ausgelegt ist, ein nahtloses Premium-Kundenerlebnis zu bieten. Diese Partnerschaft ist der neueste Schritt in der europäischen Wachstumsstrategie von Lucid und bereitet den Weg für das öffentliche Debüt der Marke auf dem Pariser Autosalon (Mondial de l'Auto) im kommenden Monat.

Lucid To Bring Award-Winning Vehicles to France with Emil Frey France’s support Für Kunden in Frankreich bedeutet diese Partnerschaft, dass Lucid mit einer soliden operativen Grundlage in den Markt eintreten wird. Lucid wird über seine eigene Importorganisation die volle Verantwortung für seine Marke, seine Geschäftsstrategie und das Kundenerlebnis behalten, während die Importabteilung von Emil Frey France maßgeschneiderte operative Dienstleistungen bereitstellt, um das Kundenerlebnis funktionsübergreifend zu unterstützen. Diese Partnerschaft wird die Einführung der preisgekrönten Elektrofahrzeug-Modellreihe von Lucid in Frankreich unterstützen, darunter die Limousine Lucid Air1  und den SUV Lucid Gravity2, und gleichzeitig eine effiziente und skalierbare Markteinführung ermöglichen.

„Frankreich gehört zu den wichtigsten Automobilmärkten Europas und stellt eine tragende Säule der Expansionsstrategie von Lucid dar", sagte Lawrence Hamilton, Europa-Präsident bei Lucid. „Diese Partnerschaft vereint unsere branchenführenden Fahrzeuge und Technologien mit der beispiellosen betrieblichen Kompetenz und dem Kundenservice von Emil Frey. Gemeinsam schaffen wir die Grundlage dafür, unseren Kunden auch in den kommenden Jahren ein außergewöhnliches Kundenerlebnis zu bieten, während wir unser Fahrzeugangebot weiter ausbauen."

„Wir freuen uns, Lucid als Partner begrüßen zu dürfen", sagte Pierre Guignot, Geschäftsleiter der Importabteilung von Emil Frey France. „Diese Zusammenarbeit spiegelt unser Engagement wider, Hersteller zu unterstützen, die die Automobilbranche neu definieren. Wir agieren als maßgeschneiderter Servicepartner und bieten flexible operative Dienstleistungen, die auf die spezifischen Anforderungen von Lucid zugeschnitten sind. Gemeinsam schaffen wir die Voraussetzungen für eine erfolgreiche Markteinführung in Frankreich."

Französische Kunden werden die Marke Lucid erstmals auf dem Pariser Autosalon erleben können, der vom 12. bis 18. Oktober 2026 an der Porte de Versailles stattfindet; dort wird Lucid im Rahmen seiner offiziellen Markteinführung seine Fahrzeuge präsentieren.

Weitere Informationen zu Lucid Motors und seinen Produkten finden Sie auf der offiziellen internationalen Website von Lucid: https://lucidmotors.com/fr-fr/subscribe

Hochauflösende Bilder zur Markteinführung in Frankreich finden Sie hier: https://assets.lucidmotors.com/transfer/eb292e5d7f3d7a07240cd572e54c46cb454bab0f2124521ee090cb335dde963a 

Informationen zur Lucid Group
Die Lucid Group, Inc. (NASDAQ: LCID) ist ein Technologieunternehmen, das durch Innovation außergewöhnliche Mobilitätserlebnisse schafft, um die Welt voranzubringen. Basierend auf Lucids firmeneigener Technologie und softwaredefinierten Fahrzeugarchitekturen bringt die Produktpalette des Unternehmens mit ihren preisgekrönten Fahrzeugen den Ansatz „Compromise Nothing™" von Lucid in die Premium-Segmente des globalen Automobilmarktes. Lucid entwirft und entwickelt seine Produkte im eigenen Haus und fertigt sie in seinen vertikal integrierten Werken in Arizona und Saudi-Arabien. Dies ermöglicht kontinuierliche Innovationen in den Bereichen Fahrzeuge, Software sowie fortschrittliche Fahrerassistenz- und Autonomiefunktionen.

Informationen zu Emil Frey France
Emil Frey France ist eine der führenden Automobilhandelsgruppen des Landes und ist in den Bereichen Fahrzeugverkauf (Groupe Autosphere), Nutzfahrzeuge, Landmaschinen (Emil Frey Pro), Ersatzteilvertrieb und -fertigung (MGA, Barrault, Green Valley) sowie der Aufbereitung von Gebrauchtfahrzeugen (CRVO) tätig. Das Unternehmen ist der offizielle Importeur von Mitsubishi Motors und Subaru in Frankreich. Im Jahr 2025 verkaufte das Unternehmen mehr als 193.170 Neu- und Gebrauchtfahrzeuge, erzielte einen Konzernumsatz von 4,7 Milliarden Euro (IFRS) und beschäftigt mehr als 10.000 Mitarbeiter. Emil Frey France ist die französische Tochtergesellschaft der Emil Frey Gruppe.

Warenzeichen 
Diese Pressemitteilung enthält Marken, Dienstleistungsmarken, Handelsnamen und Urheberrechte der Lucid Group, Inc. sowie ihrer Tochtergesellschaften und anderer Unternehmen, die Eigentum ihrer jeweiligen Inhaber sind.

Medienkontakt
Sebastian Michel
PR- und Kommunikationsmanager Europa bei Lucid
[email protected]

Camilla Jokisch
Leiterin PR & Kommunikation Europa bei Lucid
[email protected]

Zukunftsgerichtete Aussagen
Diese Mitteilung enthält „zukunftsgerichtete Aussagen" im Sinne der Safe-Harbor-Bestimmungen des United States Private Securities Litigation Reform Act von 1995. Zukunftsgerichtete Aussagen sind an Begriffen wie „schätzen", „planen", „projizieren", „prognostizieren", „beabsichtigen", „werden", „sollen", „erwarten", „antizipieren", „glauben", „anstreben", „anvisieren", „fortsetzen", „könnten", „können", „dürfen", „möglich", „potenziell", „vorhersagen" oder ähnlichen Ausdrücken zu erkennen, die künftige Ereignisse oder Trends vorhersagen oder andeuten oder keine Aussagen über historische Sachverhalte sind. Zu diesen zukunftsgerichteten Aussagen zählen unter anderem Aussagen zur Expansion von Lucid in Frankreich und Europa, zu den erwarteten Vorteilen der Partnerschaft von Lucid mit Emil Frey France sowie zur geplanten Einführung und Vermarktung von Lucid-Fahrzeugen auf dem französischen Markt. Diese Aussagen beruhen auf verschiedenen Annahmen, unabhängig davon, ob sie in dieser Mitteilung genannt werden oder nicht, sowie auf den derzeitigen Erwartungen der Geschäftsleitung von Lucid. Diese zukunftsgerichteten Aussagen sind nicht als Garantie, Zusicherung oder endgültige Aussage über Tatsachen oder Wahrscheinlichkeiten zu verstehen und dürfen von Investoren nicht als solche angesehen werden. Tatsächliche Ereignisse und Umstände lassen sich nur schwer oder gar nicht vorhersagen und können von diesen zukunftsgerichteten Aussagen abweichen. Viele tatsächliche Ereignisse und Umstände liegen außerhalb der Kontrolle von Lucid. Diese zukunftsgerichteten Aussagen unterliegen einer Reihe von Risiken und Ungewissheiten, einschließlich der Faktoren, die im Warnhinweis und unter „Risikofaktoren" in unserem Jahresbericht auf Formular 10-K für das am 31. Dezember 2025 endende Geschäftsjahr, in nachfolgenden Quartalsberichten auf Formular 10-Q, in aktuellen Berichten auf Formular 8-K sowie in anderen Dokumenten, die Lucid bei der Securities and Exchange Commission eingereicht hat oder einreichen wird, erörtert werden. Sollte sich eines dieser Risiken verwirklichen oder sollten sich die Annahmen von Lucid als falsch erweisen, könnten die tatsächlichen Ergebnisse erheblich von den Ergebnissen abweichen, die in diesen zukunftsgerichteten Aussagen enthalten sind. Es kann zusätzliche Risiken geben, die Lucid derzeit nicht kennt oder die Lucid derzeit für unwesentlich hält, die ebenfalls dazu führen könnten, dass die tatsächlichen Ergebnisse von den in den zukunftsgerichteten Aussagen enthaltenen abweichen. Darüber hinaus spiegeln zukunftsgerichtete Aussagen die Erwartungen, Pläne oder Prognosen von Lucid hinsichtlich zukünftiger Ereignisse und Ansichten zum Zeitpunkt dieser Mitteilung wider. Lucid geht davon aus, dass spätere Ereignisse und Entwicklungen dazu führen werden, dass sich die Einschätzungen von Lucid ändern werden. Auch wenn Lucid sich dazu entschließen könnte, diese zukunftsgerichteten Aussagen zu einem späteren Zeitpunkt zu aktualisieren, lehnt Lucid ausdrücklich jede Verpflichtung dazu ab. Diese zukunftsgerichteten Aussagen sollten nicht so verstanden werden, dass sie die Einschätzungen von Lucid zu einem beliebigen Zeitpunkt nach dem Datum dieser Mitteilung wiedergeben. Dementsprechend sollte kein unangemessenes Vertrauen in die zukunftsgerichteten Aussagen gesetzt werden.

1) Lucid Air 325 – 920 kW (442 – 1.251 ch), kombinierte Reichweite von 694 bis 960 km (WLTP), 0 g CO₂/km, 11,8 bis 19,1 kWh/100 km.
Der Kraftstoffverbrauch und die CO₂-Emissionen eines Fahrzeugs hängen nicht nur von dessen Kraftstoffeffizienz ab, sondern auch vom Fahrverhalten und anderen nichttechnischen Faktoren.
Die im ADEME-Leitfaden enthaltenen Informationen zum Kraftstoffverbrauch und zu den CO₂-Emissionen aller neuen Pkw-Modelle sind kostenlos in allen Verkaufsstellen sowie bei der ADEME erhältlich und können auf der Website eingesehen werden: www.ademe.fr

2) Lucid Gravity 418 – 617 kW (568 – 839 ch), kombinierte Reichweite von 536 bis 739 km (WLTP), 0 g CO₂/km, 18,2 bis 19,1 kWh/100 km.
Der Kraftstoffverbrauch und die CO₂-Emissionen eines Fahrzeugs hängen nicht nur von dessen Kraftstoffeffizienz ab, sondern auch vom Fahrverhalten und anderen nichttechnischen Faktoren.
Die im ADEME-Leitfaden enthaltenen Informationen zum Kraftstoffverbrauch und zu den CO₂-Emissionen aller neuen Pkw-Modelle sind kostenlos in allen Verkaufsstellen sowie bei der ADEME erhältlich und können auf der Website eingesehen werden: www.ademe.fr 

The U.S. transition to electric vehicles (EVs) hasn't been a smooth ride thus far. Following the end of the federal $7,500 EV tax credit and a weakening of fuel economy regulations, young EV makers have had a tough time generating as much demand as anticipated only a few years ago.

That said, the transition will go on, and will eventually accelerate, and that leaves investors who want to buy into this EV future a few options.

On the riskier end of the scale, investors might be comparing Rivian Automotive (RIVN +2.18%) and Lucid Group (LCID +0.64%). Here's one major factor to remember: shareholder dilution.

Why dilution matters It's worth repeating, though most investors are aware: Shareholder dilution is simply the aftermath of when a company creates new shares of a stock for capital; as the pool of shares grows larger, an individual's stake gets less valuable. This is hugely important for investors buying into young companies that are capital-intensive, as they could need multiple capital raises that could be dilutive. That's one of the biggest differences between Lucid and Rivian right now, and it's more important than ever.

LCID Shares Outstanding (Quarterly) data by YCharts

Let's start from the beginning, because it matters. Rivian chose a standard initial public offering (IPO), and the timing was nearly perfect. The market was giving massive valuations, and Rivian sold 153 million shares at $78 per share, raising nearly $14 billion (after underwriters fully exercised their options) in one of the largest debuts in 2021.

That gave Rivian a large cash cushion to fund investments and expenditures without needing to raise additional capital nearly as soon as Lucid, which chose to go public through a special purpose acquisition company (SPAC) merger. While Lucid received a solid valuation initially, it received a much smaller cash infusion of only about $4.4 billion.

Lucid ended the second quarter of 2026 with $3 billion in total liquidity, but its cash and cash equivalents were a lesser $732 million. Management expects that liquidity to last well into 2027, but already, analysts are predicting capital raises will be necessary and could be very shareholder dilutive. Lucid is working to curb its cash burn and is aiming to generate $1.4 billion in cash-flow improvements, but even that is likely just buying time until the next selling of shares or infusion from Saudi Arabia's Public Investment Fund, which already owns a massive chunk of the young EV maker.

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Rivian, on the flip side, actually has better liquidity than it appears. Rivian ended the second quarter with $5.3 billion in cash and cash equivalents, but including its credit facility, its total liquidity reached about $5.8 billion. Following the second quarter, Rivian announced one of its rare capital raises and added about $1.3 billion in net proceeds, lifting its liquidity to almost $7.2 billion.

But wait, there's more. Thanks to Rivian's partnership with Volkswagen, the former expects a non-recourse loan capital and milestone investments to add another $1.4 billion, and Uber Technologies is expected to invest another $250 million in 2026 and over $700 million in subsequent years.

Lastly, Rivian's $4.5 billion Department of Energy loan is earmarked to help fund the company's second manufacturing plant in Georgia. All in all, investors have transparency of about $14 billion in Rivian's expected liquidity. That is a vastly superior position compared to Lucid, and gives investors confidence that there will be less shareholder dilution in the near term.

Rivian R2. Image source: Rivian.

What it all means Lucid makes some of the world's most advanced EVs, and will continue to do so. However, Lucid has also been troubled with recalls, production hiccups, delays, and supplier issues, and has struggled to scale fast enough to lower overhead and reduce costs. Those issues have hindered Lucid's ability to improve its gross margin consistently, as rival Rivian has already done.

Investors comparing these two young EV makers must remember shareholder dilution, because $1 invested in Rivian right now is far more likely to hold its value going forward. Lucid investors likely can't say the same.

Lucid's new CEO launched a sweeping turnaround plan and called out years of failure in unusually blunt terms, yet the stock hit a 52-week low days later. Something in that reset spooked investors far more than it reassured them.

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Lucid Group (NASDAQ:LCID | LCID Price Prediction) stock trades at $4.81 midday, while the average analyst price target sits at $8.11. That gap implies upside of more than 70%.

Lucid designs and builds luxury electric vehicles from Newark, California. CEO Silvio Napoli filed an operational reset on August 4 promising $1.4 billion in cash flow improvements this year. Napoli took over on June 1 after previously running Schindler, and he framed the plan as one of four must-win priorities.

That gap matters because it sits on top of one of the worst balance sheets in the U.S. auto sector. Lucid stock closed Tuesday at $4.55, a fresh 52-week low, and today’s move is a bounce off that low rather than a full recovery.

Four Weeks That Erased 42% of the Equity From the August 4 close of $7.78 to Tuesday’s close of $4.55, Lucid stock fell 42%. That’s a company-specific collapse. Over the same window, the S&P 500 tracking SPDR S&P 500 ETF Trust (NYSE ARCA:SPY) barely moved.

What triggered it was the reset itself. Napoli told investors, “We have disappointed on several fronts, and for far too long,” and warned that production in Q3 2026 and Q4 2026 is expected to be below Q2 as Arizona moves from two shifts to one. Investors read the honesty as a warning rather than a fix.

Details released with the reset explained the reaction. Lucid reported stockholders’ equity of negative $1.06 billion, free cash flow of negative $1.48 billion for the quarter, and an accumulated deficit of $17.7 billion. Against a market capitalization of $1.8 billion, that accumulated deficit dwarfs the equity value the market currently assigns.

Why the $8.11 Target Hasn’t Caught Up The bull thesis rests on Napoli’s four must-win projects: the $1.4 billion cash flow improvement, the Robotaxi program with Uber and Nuro, the AMP-2 factory in Saudi Arabia, and the Midsize platform. Lucid reported total liquidity of $3 billion and said the runway extends “well into 2027.” That timeline is the load-bearing wall of every constructive case.

Citigroup cut its price target on Lucid stock to $11 after the reset. That figure predates the collapse to Tuesday’s 52-week low, and a target set before a 42% decline may lag events rather than identify value. Coverage skews cautious across the desks tracking the name: 1 Buy rating against 8 Holds, 1 Sell, and 2 Strong Sells. Recent revisions have moved down.

These catalysts are real but distant. Robotaxi is targeted for launch in late 2026 with production ramping in Q4, AMP-2 is expected to be ready for production in early 2027, and the Midsize program depends on that factory. Analyst targets aren’t guarantees, and none of these arrive in time to fix the balance sheet on their own.

How Rivian and Tesla Stack Up Lucid’s EV cohort didn’t sell off with it. This was a Lucid-specific move, and the peer prints confirm it.

Rivian (NASDAQ:RIVN) stock trades at $15.57, is down 21% year to date, and is up 12% over the past year. Rivian’s analyst posture leans more constructive than Lucid’s coverage, and Wall Street’s implied upside there is meaningful but smaller than Lucid’s gap.

Meanwhile, Tesla (NASDAQ:TSLA) stock sits at $352.70, down 22% year to date, and up 13% over the past month as robotaxi and AI narratives lift sentiment. Consensus-implied upside on Tesla sits well inside Lucid’s.

The largest analyst-implied upside across this group sits with Lucid, and that’s precisely the problem. When the biggest gap belongs to the smallest, most leveraged, most cash-negative name in the peer set, it’s a signal the target is stale.

Where the Setup Rewards Patience, and Where It Doesn’t Lucid stock is down 55% year to date and 73% over the past year, while the S&P 500 is up 12% year to date. The setup could reward patience here if the $1.4 billion in cash improvements lands on schedule, if the Uber Technologies (NYSE:UBER) and Nuro Robotaxi program reaches paid launch in late 2026 without further slippage, and if the November update shows liquidity holding without another equity raise.

The value-trap risk grows if any of those slip. The company’s negative stockholders’ equity means its liabilities exceed its assets on the balance sheet as reported, and for readers sizing risk near retirement, that condition makes further dilution the default rather than the tail risk. Every share issued to fund the runway pushes per-share math further from the standing target. An investor alert from a law firm has added to the overhang.

The gap between the current LCID stock price and the $8.11 price target reflects a future vision that hasn’t caught up to the balance sheet rather than an identified mispricing. Investors sizing their Lucid stock exposure should treat this as a speculative call option rather than a value trade, and should keep their positions small enough that a further leg down doesn’t dictate the outcome of the portfolio, the kind of sizing discipline we laid out in a free speculation guide.

Contact [email protected] for any questions or corrections.

Lucid Group LCID shares fell about 7.7% Monday as pressure on growth stocks outweighed recent developments in the electric-vehicle maker's European retail strategy.

Investors were also weighing a new threat to the auto sector after President Donald Trump said the U.S. plans to impose 50% tariffs on Canadian auto imports starting in 2027. Higher Treasury yields added to the pressure on rate-sensitive growth names.

Lucid last week expanded its European footprint by naming Munsterhuis Autobedrijven as its first retail partner in the Netherlands. The arrangement adds sales, leasing and service capabilities in Hengelo to Lucid's existing presence in Hilversum.

Attention also remains on the company's restructuring plan. Lucid is targeting $1.4 billion in cash-flow savings through lower capital spending, workforce reductions and working-capital measures. With $3 billion of liquidity, investors are watching the production ramp at its AMP-2 facility in Saudi Arabia and development of its midsize vehicle platform.

Near-term trading may remain sensitive to tariffs, interest rates and execution on Lucid's cost-cutting and production plans.

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Lucid's new CEO unveiled a sweeping list of fixes, partnerships, and bold promises, but Wall Street responded by punishing the stock hard. The question now is whether the company can survive long enough to compete in markets dominated by rivals…

Lucid’s (NASDAQ: LCID | LCID Price Prediction) shares rallied into the summer as it moved from below $3 in mid-July to $8 by the end of the month. In the last month, they have collapsed 23% and are now down 53% for the year. Clearly, Wall St. sees what was once a troubled company as deeply troubled.

Investors disliked second-quarter earnings and winced when new CEO Silvio Napoli said he had started an “operational reset.” He said current models were not enough to take the company forward and that it needed new products. He said he planned to cut expenses by another $1 billion. He said that the company’s new Cosmos, priced below $50,000, would be delayed until next year. And he chopped 1,500 people. This is after layoffs several months ago.

Napoli’s list of plans may have been too long to be believable. The company will use Nuro’s self-driving software to partner with Uber (NYSE: UBER). It will be built on the all-electric Gravity SUV. The announcement of the deal was nothing short of breathless: “Setting a new standard for safe, sustainable, and scalable autonomous transportation worldwide with a next-generation global robotaxi program. This is a first-of-its-kind partnership built on expertise, collaboration, and trust,” the companies said.

The reason for the panic is simple. Lucid continues to lose money and makes very few vehicles. It has cut costs, a move that is as old as the mountains. And it is unclear how much was fat and how much was muscle.

The sub-$50,000 EV is a product most EV companies know they need to restart slow EV sales. That means competition. And the self-driving taxi business is full to overflowing. That includes Tesla (NASDAQ: TSLA) and Waymo, who have access to huge amounts of capital and have been in the field for months, if not years.

Lucid is chasing business where it is not close to the first company in line. And, well behind others, it does not have the money to catch up.

Contact [email protected] for any questions or corrections.

Electric vehicle maker Lucid (LCID.O) is recalling 27,185 of its ​flagship Air luxury sedans in the U.S., ‌because an exterior lighting circuit could overheat and increase the risk of a fire, the National ​Highway Traffic Safety Administration said on Friday.

Here ​are some details:

The NHTSA recall notice asked ⁠owners to park their vehicles outside ​and away from structures until a remedy is ​deployed.

The overheated circuit could also cause loss of exterior lighting, which could, in turn, increase the risk ​of a crash, according to the NHTSA.

Lucid ​has released an over-the-air software update to fix the issue ‌and ⁠has already determined that 20,719 vehicles have received the update, the NHTSA added.

The recall marks Lucid's largest to date, encompassing more ​vehicles than the ​company delivered ⁠throughout 2025, when it handed over 15,841 cars.

In May, Lucid recalled ​2,039 vehicles due to loss of ​drive ⁠power, while it also recalled more than 10,000 vehicles in January this year over rearview ⁠camera ​image issues.

Lucid is backed ​by Saudi Arabia's Public Investment Fund (PIF).

Lucid (LCID -1.57%) stock is seeing another valuation pullback in this week's trading and is down roughly 7.6% from where it stood at last week's close heading into this Friday's market open. The S&P 500 and the Nasdaq Composite were up 0.5% and 0.2%, respectively, over the same stretch. Lucid shares had been down as much as 11.8% over the period prior to seeing some rebound momentum in Thursday's session.

The electric vehicle (EV) specialist's share price is losing ground in conjunction with concerns about the impact of new tariffs and general concerns about the scalability of its business. As of this writing, the stock is now down 52% year to date.

Image source: Getty Images.

Lucid slips on tariff risks On Aug. 22, the U.S. implemented new tariffs of 50% on a bundle of imported Canadian goods valued at roughly $20 billion annually. In turn, Canada announced on Aug. 25 that it would be implementing a new round of retaliatory tariffs ranging between 15% and 50% on select U.S. goods valued at approximately $20 billion that is set to go into effect on Sept. 8.

While the list of new tariffs from Canada did not include automobiles manufactured in the U.S., President Donald Trump threatened to institute new tariffs on automobiles made in Canada in response. If that were to happen, it's reasonable to expect that Canada could respond with expanded tariffs on U.S.-made automobiles -- which could have a significant adverse impact on Lucid.

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5.01

Investors are worried about Lucid's outlook In addition to tariff-related pressures this week, Lucid stock has continued to pull back in response to general concerns about the company's performance outlook. The company's quest to achieve the economies of scale necessary to improve its gross margins has proceeded at a relatively slow pace, and the business has recently suffered operational issues, including vehicle recalls and a cybersecurity breach at one of its vendors. While the company's vehicles are generally highly regarded, the business has been struggling to execute on its growth strategies.

Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

New hires to strengthen execution, financial discipline, and customer focus

, /PRNewswire/ -- Lucid Group, Inc. (NASDAQ: LCID), maker of the world's most advanced software-defined vehicles and technologies, today announced three leadership appointments designed to strengthen commercial execution, financial discipline, and customer engagement. Shawn Mirabal has joined as President of North America Commercial, Mike Molino as Vice President of Finance, and Angela Zepeda as Vice President, Global Marketing.

Shawn Mirabal joins Lucid as President of North America Commercial

Mike Molino joins Lucid as Vice President of Finance

Angela Zepeda joins Lucid as Vice President, Global Marketing

"We continue to strengthen our leadership team with executives who bring deep experience and a proven track record of execution," said Silvio Napoli, CEO at Lucid. "Shawn, Mike, and Angela are proven leaders who will each directly support our three business fundamentals: cash and cost, customer and quality, and culture and team. Their leadership will help us deliver more consistent results for our customers, shareholders, and employees."

Mirabal brings more than 27 years of manufacturing and retail automotive experience to Lucid, having previously held national and regional leadership roles at Nissan North America, FCA/Stellantis, American Honda, Berkshire Hathaway Automotive Group, and most recently was the COO of #1 Cochran Automotive Group. His experience leading organizational transformations and aligning manufacturing priorities with frontline retail execution will support Lucid's focus on improving commercial execution and the customer experience across North America.

Molino brings more than two decades of finance leadership experience across the automotive industry and most recently served as CFO and COO, Head of Finance and Operations at Mercedes-Benz Research and Development North America. As Lucid continues to focus on execution, efficiency, and value creation, he will work closely with leaders across the company to strengthen financial discipline, improve transparency and accountability, and better connect operational execution with financial performance.

Zepeda joins Lucid with more than 25 years of experience leading global brands through transformation, most recently serving as Global Head of Marketing at xAI after five years as CMO at Hyundai Motor America. Her experience refining operating models, strengthening cross-functional alignment, and integrating marketing with product, sales, and communications to better align the end-to-end customer journey will support Lucid's efforts to strengthen customer engagement, brand awareness, and commercial momentum.

In their new roles, Mirabal and Zepeda will report to Billy Hayes, Chief Customer Officer, and Molino will report to Alexander De Bock, CFO. These appointments reflect Lucid's continued focus on building the leadership capabilities needed to improve execution, strengthen accountability, and better service customers as the company advances its next phase.

About Lucid Group
Lucid Group, Inc. (NASDAQ: LCID) is a technology company creating exceptional mobility experiences through innovation to drive the world forward. Built on Lucid's proprietary technology and software defined vehicle architectures, the company's lineup of award-winning vehicles brings Lucid's "Compromise Nothing™" approach to premium segments of the global automotive market. Lucid designs and engineers its products in-house and manufactures at its vertically integrated facilities in Arizona and Saudi Arabia, enabling continuous innovation across vehicles, software, and advanced driver assistance and autonomy-ready capabilities.

Forward-Looking Statements
This communication includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "shall," "expect," "anticipate," "believe," "seek," "target," "continue," "could," "may," "might," "possible," "potential," "predict" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the expected contributions of Lucid's newly appointed leaders, Lucid's efforts to strengthen execution, improve cost efficiency, enhance the customer experience, accelerate commercial performance, increase brand awareness, and support the Company's future growth and strategic priorities. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of Lucid's management. These forward-looking statements are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from these forward-looking statements. Many actual events and circumstances are beyond the control of Lucid. These forward-looking statements are subject to a number of risks and uncertainties, including those factors discussed under the cautionary language and the Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2025, subsequent Quarterly Reports on Form 10-Qs, Current Reports on Form 8-K, and other documents Lucid has filed or will file with the Securities and Exchange Commission. If any of these risks materialize or Lucid's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Lucid currently does not know or that Lucid currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Lucid's expectations, plans or forecasts of future events and views as of the date of this communication. Lucid anticipates that subsequent events and developments will cause Lucid's assessments to change. However, while Lucid may elect to update these forward-looking statements at some point in the future, Lucid specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Lucid's assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Media Contact
[email protected]

Investor Relations Contact
[email protected]
Sign up for investor email alerts: https://ir.lucidmotors.com/ir-resources/email-alerts

Trademarks
This communication contains trademarks, service marks, trade names and copyrights of Lucid Group, Inc. and its subsidiaries and other companies, which are the property of their respective owners.

SOURCE Lucid Group

Durch diese Partnerschaft erweitert Lucid seine Präsenz, ergänzt das bestehende Lucid Studio und Service Center in Hilversum und verbessert den Zugang für Kunden im ganzen Land. Munsterhuis ist eine der traditionsreichsten Automobilgruppen der Niederlande und betreut seine Kunden seit mehr als sechs Jahrzehnten mit einem umfassenden Angebot an Fahrzeugverkauf, Wartung, Leasing und Versicherungen. , /PRNewswire/ -- Lucid Group, Inc. (NASDAQ: LCID), Hersteller der weltweit fortschrittlichsten softwaredefinierten Fahrzeuge und Technologien, gab heute bekannt, dass Munsterhuis Autobedrijven (Munsterhuis) sein erster Vertriebspartner in den Niederlanden wird.

Lucid and Munsterhuis Autobedrijven partner to expand Lucid's footprint and expand customer access in the Netherlands. Die Partnerschaft vereint die preisgekrönten Elektrofahrzeuge von Lucid mit der Expertise von Munsterhuis im Automobilhandel und im Kundenservice, um die Limousine Lucid Air1 und den SUV Lucid Gravity2 für niederländische Kunden noch zugänglicher zu machen. Munsterhuis wird in Hengelo eine eigene Lucid-Verkaufsstelle betreiben, ergänzt durch autorisierte Lucid-Kundendienst- und Serviceeinrichtungen am selben Standort. Gemeinsam werden Lucid und Munsterhuis preisgekrönte Fahrzeuge, eine individuelle Kundenbetreuung und ein flächendeckendes Serviceangebot auf dem gesamten Markt anbieten.

Munsterhuis ist eine der traditionsreichsten Automobilgruppen der Niederlande und betreut seine Kunden seit mehr als sechs Jahrzehnten mit einem umfassenden Angebot an Fahrzeugverkauf, Wartung, Leasing und Versicherungen. Das Familienunternehmen hat sich in der Region Twente und darüber hinaus einen hervorragenden Ruf für seine Kundenbetreuung und operative Exzellenz erworben.

„Unsere Partnerschaft mit Munsterhuis stellt einen weiteren Meilenstein für die europäische Expansion von Lucid dar", sagte Lawrence Hamilton, President of Europe bei Lucid. „Die Niederlande sind ein Schlüsselmarkt mit einer großen Nachfrage nach innovativer und nachhaltiger Mobilität. Dank seines langjährigen guten Rufs ist Munsterhuis ein idealer Partner, um mehr niederländischen Kunden die Marke Lucid und unsere preisgekrönte Modellpalette näherzubringen."

„Die Gründung von Lucid läutet ein spannendes neues Kapitel für Munsterhuis ein", sagte Jochen Munsterhuis, Director bei Munsterhuis. „Wir sind stets bestrebt, unseren Kunden die innovativsten und zukunftsweisendsten Mobilitätslösungen anzubieten. Die branchenführende Technologie von Lucid, die herausragende Effizienz und der kompromisslose Anspruch an Luxus machen die Marke zu einer perfekten Ergänzung unseres Portfolios. Wir sind stolz darauf, Lucid in unseren Reihen zu haben, und freuen uns darauf, unsere ersten Lucid-Kunden willkommen zu heißen."

Diese Partnerschaft setzt die Hybrid-Einzelhandelsstrategie von Lucid in Europa fort und knüpft an die Ankündigung an, die Anfang dieses Jahres gemeinsam mit dem deutschen Einzelhändler Wackenhut erfolgte. 

Weitere Informationen zu Lucid Motors und dessen Produkte finden Sie auf der offiziellen Lucid-Website: https://lucidmotors.com/ 

Weitere Informationen zu Munsterhuis finden Sie auf der offiziellen Website: munsterhuis.nl

Informationen zur Lucid Group
Lucid Group, Inc. (NASDAQ: LCID) ist ein Technologieunternehmen, das durch Innovation außergewöhnliche Mobilitätserlebnisse schafft, um die Welt voranzubringen. Basierend auf Lucids firmeneigener Technologie und softwaredefinierten Fahrzeugarchitekturen bringt die Produktpalette des Unternehmens mit ihren preisgekrönten Fahrzeugen den Ansatz „Compromise Nothing™" von Lucid in die Premium-Segmente des globalen Automobilmarktes. Lucid entwirft und entwickelt seine Produkte im eigenen Haus und fertigt sie in seinen vertikal integrierten Werken in Arizona und Saudi-Arabien. Dies ermöglicht kontinuierliche Innovationen in den Bereichen Fahrzeuge, Software sowie fortschrittliche Fahrerassistenz- und Autonomiefunktionen.

Information zu Munsterhuis Autobedrijven
Munsterhuis Autobedrijven ist eine führende niederländische Automobilgruppe mit mehr als 60 Jahren Erfahrung im Fahrzeugverkauf und im Bereich Mobilitätsdienstleistungen. Das Unternehmen betreut sowohl Privat- als auch Geschäftskunden und bietet ein umfassendes Spektrum an Automobillösungen, darunter Fahrzeugverkauf, Wartung, Leasing, Vermietung, Versicherungen und Reparaturdienstleistungen. Als Familienunternehmen mit mehreren Standorten in den Niederlanden ist Munsterhuis für seine kundenorientierte Ausrichtung sowie sein Engagement für Qualität und Service bekannt.

Medienkontakt
Sebastian Michel
PR & Communications Manager Europe bei Lucid
[email protected]

Camilla Jokisch
Lead PR & Communications Europe bei Lucid
[email protected]

Zukunftsgerichtete Aussagen
Diese Mitteilung enthält „zukunftsgerichtete Aussagen" im Sinne der Safe-Harbor-Bestimmungen des United States Private Securities Litigation Reform Act von 1995. Zukunftsgerichtete Aussagen sind an Begriffen wie „schätzen", „planen", „projizieren", „prognostizieren", „beabsichtigen", „werden", „sollen", „erwarten", „antizipieren", „glauben", „anstreben", „anvisieren", „fortsetzen", „könnten", „können", „dürfen", „möglich", „potenziell", „vorhersagen" oder ähnlichen Ausdrücken zu erkennen, die künftige Ereignisse oder Trends vorhersagen oder andeuten oder keine Aussagen über historische Sachverhalte sind. Diese zukunftsgerichteten Aussagen umfassen unter anderem Aussagen zur Expansion von Lucid in Europa sowie zu den erwarteten Vorteilen der Vertriebspartnerschaft von Lucid mit Munsterhuis, darunter ein erweiterter Kundenzugang und eine verbesserte Serviceabdeckung in den Niederlanden. Diese Aussagen beruhen auf verschiedenen Annahmen, unabhängig davon, ob sie in dieser Mitteilung genannt werden oder nicht, sowie auf den derzeitigen Erwartungen der Geschäftsleitung von Lucid. Diese zukunftsgerichteten Aussagen sind nicht als Garantie, Zusicherung oder endgültige Aussage über Tatsachen oder Wahrscheinlichkeiten zu verstehen und dürfen von Investoren nicht als solche angesehen werden. Tatsächliche Ereignisse und Umstände lassen sich nur schwer oder gar nicht vorhersagen und können von diesen zukunftsgerichteten Aussagen abweichen. Viele tatsächliche Ereignisse und Umstände liegen außerhalb der Kontrolle von Lucid. Diese zukunftsgerichteten Aussagen unterliegen einer Reihe von Risiken und Ungewissheiten, einschließlich der Faktoren, die im Warnhinweis und unter „Risikofaktoren" in unserem Jahresbericht auf Formular 10-K für das am 31. Dezember 2025 endende Geschäftsjahr, in den nachfolgenden Quartalsberichten auf Formular 10-Q, in den aktuellen Berichten auf Formular 8-K sowie in anderen Dokumenten, die Lucid bei der Securities and Exchange Commission eingereicht hat oder einreichen wird, erörtert werden. Sollte sich eines dieser Risiken verwirklichen oder sollten sich die Annahmen von Lucid als falsch erweisen, könnten die tatsächlichen Ergebnisse erheblich von den Ergebnissen abweichen, die in diesen zukunftsgerichteten Aussagen enthalten sind. Es kann zusätzliche Risiken geben, die Lucid derzeit nicht kennt oder die Lucid derzeit für unwesentlich hält, die ebenfalls dazu führen könnten, dass die tatsächlichen Ergebnisse von den in den zukunftsgerichteten Aussagen enthaltenen abweichen. Darüber hinaus spiegeln zukunftsgerichtete Aussagen die Erwartungen, Pläne oder Prognosen von Lucid hinsichtlich zukünftiger Ereignisse und Ansichten zum Zeitpunkt dieser Mitteilung wider. Lucid geht davon aus, dass spätere Ereignisse und Entwicklungen dazu führen werden, dass sich die Einschätzungen von Lucid ändern werden. Auch wenn Lucid sich dazu entschließen könnte, diese zukunftsgerichteten Aussagen zu einem späteren Zeitpunkt zu aktualisieren, lehnt Lucid ausdrücklich jede Verpflichtung dazu ab. Diese zukunftsgerichteten Aussagen sollten nicht so verstanden werden, dass sie die Einschätzungen von Lucid zu einem beliebigen Zeitpunkt nach dem Datum dieser Mitteilung wiedergeben. Dementsprechend sollte kein unangemessenes Vertrauen in die zukunftsgerichteten Aussagen gesetzt werden.

1)
GERMANY
Lucid Air 325 - 920 kW (442 - 1.251 PS), 694 - 960 km kombinierte Reichweite (WLTP), 0 g CO₂/km, 19,1 - 11,8 kWh/100 km, CO₂-Klasse: A.
Die Werte wurden nach dem vorgeschriebenen Verfahren WLTP (Worldwide Harmonized Light Vehicles Test Procedure) ermittelt. Der Energieverbrauch und die Reichweite des Fahrzeugs im tatsächlichen Betrieb sind von verschiedenen Faktoren abhängig, u.a. dem Einbau von Ausstattung aus dem Teilehandel und Zubehör sowie Wetter- und Verkehrsbedingungen und dem persönlichen Fahrverhalten.
Weitere Informationen zum offiziellen Kraftstoffverbrauch, den offiziellen spezifischen CO₂-Emissionen sowie zum Stromverbrauch neuer Personenkraftwagen sind im kostenlosen Leitfaden zum Kraftstoffverbrauch der Deutsche Automobil Treuhand (DAT), auch abrufbar unter www.dat.de/co2, verfügbar.

NETHERLANDS
Lucid Air 325 - 920 kW (442 - 1.251 pk), 694 - 960 km gecombineerde actieradius (WLTP), 0 g CO₂ per gereden km (WLTP), energieverbruik 19,1 - 11,8 kWh/100 km.
De actieradius is gebaseerd op de WLTP-procedure (Worldwide Harmonized Light Vehicles Test Procedure). De WLTP-waarden zijn gebaseerd op tests van het voertuig met de standaarduitrusting af fabriek. Het energieverbruik en de actieradius van een voertuig kunnen worden beïnvloed door de installatie van uitrustingen, onderdelen en accessoires, alsook door weers- en verkeersomstandigheden en persoonlijk rijgedrag.

SWITZERLAND – GERMAN
Lucid Air 325 - 920 kW (442 - 1.251 PS), 694 - 960 km kombinierte Reichweite (WLTP), Energieverbrauch (Fahrbetrieb): 19,1 - 11,8 kWh/100 km, Benzinäquivalent: 1,30 - 2,10 l/100 km, CO₂-Emissionen (Fahrbetrieb): 0 g/km, CO₂-Emissionen aus der Treibstoff- und/oder Strombereitstellung: 13 - 21 g/km, Energieeffizienz-Kategorie: A – C.
Die Werte wurden nach dem vorgeschriebenen Verfahren WLTP (Worldwide Harmonized Light Vehicles Test Procedure) ermittelt. Der Energieverbrauch und die Reichweite des Fahrzeugs im tatsächlichen Betrieb sind von verschiedenen Faktoren abhängig, u.a. dem Einbau von Ausstattung aus dem Teilehandel und Zubehör sowie Wetter- und Verkehrsbedingungen und dem persönlichen Fahrverhalten.
CO₂ ist das für die Erderwärmung hauptverantwortliche Treibhausgas; die mittlere CO₂-Emission aller (markenübergreifend) angebotenen Fahrzeugtypen beträgt 111 g/km für das Jahr 2026; der Zielwert liegt bei 93,6 g/km.

SWITZERLAND – FRENCH
Lucid Air 325 - 920 kW (442 - 1.251 ch), 694 - 960 km d'autonomie combinée (WLTP), consommation d'énergie (liée à la conduite): 19,1 - 11,8 kWh/100 km, équivalent essence: 1,30 - 2,10 l/100 km, émissions de CO₂ (liées à la conduite): 0 g/km, émissions de CO₂ liées à la fourniture de carburant et/ou d'électricité: 13 - 21 g/km, catégorie d'efficacité énergétique: A – C.
Les valeurs d'autonomie sont basées sur la procédure WLTP (Worldwide Harmonized Light Vehicles Test Procedure, Procédure d'essai mondiale harmonisée pour les véhicules légers). Les valeurs WLTP sont déterminées à partir de tests réalisés avec l'équipement standard d'usine. La consommation d'énergie et l'autonomie peuvent être influencées par l'installation de pièces, d'équipements et d'accessoires achetés sur le marché, ainsi que par des facteurs tels que les conditions météorologiques, les conditions de circulation et le style de conduite.
Le CO₂ est le principal gaz à effet de serre responsable du réchauffement climatique; les émissions moyennes de CO₂ de tous les types de véhicules proposés (quelle que soit la marque) s'élèvent à 111 g/km pour l'année 2026, la valeur cible provisoire étant 93,6 g/km.

NORWAY
Lucid Air 325 - 920 kW (442 - 1.251 hk), 694 - 960 km kombinert rekkevidde (WLTP), 0 g CO₂/km, 19,1 - 11,8 kWh/100 km.
Rekkevidden er bestemt i henhold til WLTP-prosedyren (Worldwide Harmonized Light Vehicles Test Procedure). WLTP-verdiene er basert på tester av kjøretøyet med standardutstyret fra fabrikken. Bilens energiforbruk og rekkevidde kan påvirkes av ettermontert utstyr og tilbehør, vær- og trafikkforhold samt personlig kjøreatferd.

2)
GERMANY Lucid Gravity 418 - 617 kW (568 - 839 PS), 511 - 748 km kombinierte Reichweite (WLTP), 0 g CO₂/km, 19,4 - 18,2 kWh/100 km, CO₂-Klasse: A.
Die Werte wurden nach dem vorgeschriebenen Verfahren WLTP (Worldwide Harmonized Light Vehicles Test Procedure) ermittelt. Der Energieverbrauch und die Reichweite des Fahrzeugs im tatsächlichen Betrieb sind von verschiedenen Faktoren abhängig, u.a. dem Einbau von Ausstattung aus dem Teilehandel und Zubehör sowie Wetter- und Verkehrsbedingungen und dem persönlichen Fahrverhalten.
Weitere Informationen zum offiziellen Kraftstoffverbrauch, den offiziellen spezifischen CO₂-Emissionen sowie zum Stromverbrauch neuer Personenkraftwagen sind im kostenlosen Leitfaden zum Kraftstoffverbrauch der Deutsche Automobil Treuhand (DAT), auch abrufbar unter www.dat.de/co2, verfügbar.

NETHERLANDS
Lucid Gravity 418 - 617 kW (568 - 839 pk), 511 - 748 km gecombineerde actieradius (WLTP), 0 g CO₂ per gereden km, energieverbruik 19,4 - 18,2 kWh/100 km.
De actieradius is gebaseerd op de WLTP-procedure (Worldwide Harmonized Light Vehicles Test Procedure). De WLTP-waarden zijn gebaseerd op tests van het voertuig met de standaarduitrusting af fabriek. Het energieverbruik en de actieradius van een voertuig kunnen worden beïnvloed door de installatie van uitrustingen, onderdelen en accessoires, alsook door weers- en verkeersomstandigheden en persoonlijk rijgedrag.

SWITZERLAND – GERMAN
Lucid Gravity 418 - 617 kW (568 - 839 PS), 511 - 748 km kombinierte Reichweite (WLTP), Energieverbrauch (Fahrbetrieb): 19,4 - 18,2 kWh/100 km, Benzinäquivalent: 2,00 - 2,13 l/100 km, CO₂-Emissionen (Fahrbetrieb): 0 g/km, CO₂-Emissionen aus der Treibstoff- und/oder Strombereitstellung: 20 - 22 g/km, Energieeffizienz-Kategorie: B – C.
Die Werte wurden nach dem vorgeschriebenen Verfahren WLTP (Worldwide Harmonized Light Vehicles Test Procedure) ermittelt. Der Energieverbrauch und die Reichweite des Fahrzeugs im tatsächlichen Betrieb sind von verschiedenen Faktoren abhängig, u.a. dem Einbau von Ausstattung aus dem Teilehandel und Zubehör sowie Wetter- und Verkehrsbedingungen und dem persönlichen Fahrverhalten.
CO₂ ist das für die Erderwärmung hauptverantwortliche Treibhausgas; die mittlere CO₂-Emission aller (markenübergreifend) angebotenen Fahrzeugtypen beträgt 111 g/km für das Jahr 2026; der Zielwert liegt bei 93,6 g/km.

SWITZERLAND – FRENCH
Lucid Gravity 418 - 617 kW (568 - 839 ch), 511 - 748 km d'autonomie combinée (WLTP), consommation d'énergie (liée à la conduite): 19,4 - 18,2 kWh/100 km, équivalent essence: 2,00 - 2,13 l/100 km, émissions de CO₂ (liées à la conduite): 0 g/km, émissions de CO₂ liées à la fourniture de carburant et/ou d'électricité: 20 - 22 g/km, catégorie d'efficacité énergétique: B – C.
Les valeurs d'autonomie sont basées sur la procédure WLTP (Worldwide Harmonized Light Vehicles Test Procedure, Procédure d'essai mondiale harmonisée pour les véhicules légers). Les valeurs WLTP sont déterminées à partir de tests réalisés avec l'équipement standard d'usine. La consommation d'énergie et l'autonomie peuvent être influencées par l'installation de pièces, d'équipements et d'accessoires achetés sur le marché, ainsi que par des facteurs tels que les conditions météorologiques, les conditions de circulation et le style de conduite.
Le CO₂ est le principal gaz à effet de serre responsable du réchauffement climatique; les émissions moyennes de CO₂ de tous les types de véhicules proposés (quelle que soit la marque) s'élèvent à 111 g/km pour l'année 2026, la valeur cible provisoire étant 93,6 g/km.

NORWAY
Lucid Gravity 418 - 617 kW (568 - 839 hk), 511 - 748 km kombinert rekkevidde (WLTP), 0 g CO₂/km, 19,4 - 18,2 kWh/100 km.
Rekkevidden er bestemt i henhold til WLTP-prosedyren (Worldwide Harmonized Light Vehicles Test Procedure). WLTP-verdiene er basert på tester av kjøretøyet med standardutstyret fra fabrikken. Bilens energiforbruk og rekkevidde kan påvirkes av ettermontert utstyr og tilbehør, vær- og trafikkforhold samt personlig kjøreatferd.

The partnership expands Lucid's footprint, complementing the existing Lucid Studio and Service Center in Hilversum and broadening customer access across the country.Munsterhuis is one of the Netherlands' most established automotive groups, serving customers for more than six decades through a comprehensive portfolio of vehicle sales, servicing, leasing, and insurance., /PRNewswire/ -- Lucid Group, Inc. (NASDAQ: LCID), maker of the world's most advanced software-defined vehicles and technologies, today announced Munsterhuis Autobedrijven (Munsterhuis) as its first retail partner in the Netherlands.

The partnership combines Lucid's award-winning electric vehicles with Munsterhuis' automotive retail and customer service expertise to make the Lucid Air1 sedan and the Lucid Gravity2 SUV even more accessible for Dutch customers. Munsterhuis will operate a dedicated Lucid sales location in Hengelo, complemented by authorized Lucid aftersales and service operations at the same site. Together, Lucid and Munsterhuis will offer award-winning vehicles, personalized customer support, and comprehensive service coverage across the market.

Munsterhuis is one of the Netherlands' most established automotive groups, serving customers for more than six decades through a comprehensive portfolio of vehicle sales, servicing, leasing, and insurance. The family-owned company has built a strong reputation for customer care and operational excellence across the Twente region and beyond.

"Our partnership with Munsterhuis represents yet another milestone for Lucid's European expansion," said Lawrence Hamilton, President of Europe at Lucid. "The Netherlands is a key market with a strong appetite for innovative and sustainable mobility. Munsterhuis' longstanding reputation makes them an ideal partner to introduce more Dutch customers to the Lucid brand and our award-winning lineup."

"The arrival of Lucid represents an exciting new chapter for Munsterhuis," said Jochen Munsterhuis, Director at Munsterhuis. "We continuously strive to offer our customers the most innovative and forward-looking mobility solutions. Lucid's industry-leading technology, outstanding efficiency, and uncompromising approach to luxury make the brand a perfect addition to our portfolio. We are proud to have Lucid with us and look forward to welcoming our first Lucid customers."

This partnership continues Lucid's hybrid retail strategy in Europe, building on the announcement earlier this year with German retailer Wackenhut.

For more details about Lucid Motors and its products, visit the official Lucid website: https://lucidmotors.com/

For more details about Munsterhuis, visit the official website: munsterhuis.nl

About Lucid Group
Lucid Group, Inc. (NASDAQ: LCID) is a technology company creating exceptional mobility experiences through innovation to drive the world forward. Built on Lucid's proprietary technology and software defined vehicle architectures, the company's lineup of award-winning vehicles brings Lucid's "Compromise Nothing™" approach to premium segments of the global automotive market. Lucid designs and engineers its products in-house and manufactures at its vertically integrated facilities in Arizona and Saudi Arabia, enabling continuous innovation across vehicles, software, and advanced driver assistance and autonomy-ready capabilities.

About Munsterhuis Autobedrijven
Munsterhuis Autobedrijven is a leading Dutch automotive group with more than 60 years of experience in vehicle sales and mobility services. Serving both private and business customers, the company offers a comprehensive range of automotive solutions, including vehicle sales, maintenance, leasing, rental, insurance, and repair services. As a family-owned business with multiple locations in the Netherlands, Munsterhuis is recognized for its customer-focused approach and commitment to quality and service.

Media Contact
Sebastian Michel
PR & Communications Manager Europe at Lucid
[email protected]

Camilla Jokisch
Lead PR & Communications Europe at Lucid
[email protected]

Forward-Looking Statements
This communication includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "shall," "expect," "anticipate," "believe," "seek," "target," "continue," "could," "may," "might," "possible," "potential," "predict" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding Lucid's expansion in Europe and the expected benefits of Lucid's retail partnership with Munsterhuis, including expanded customer access and service coverage in the Netherlands. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of Lucid's management. These forward-looking statements are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from these forward-looking statements. Many actual events and circumstances are beyond the control of Lucid. These forward-looking statements are subject to a number of risks and uncertainties, including those factors discussed under the cautionary language and the Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2025, subsequent Quarterly Reports on Form 10-Qs, Current Reports on Form 8-K, and other documents Lucid has filed or will file with the Securities and Exchange Commission. If any of these risks materialize or Lucid's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Lucid currently does not know or that Lucid currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Lucid's expectations, plans or forecasts of future events and views as of the date of this communication. Lucid anticipates that subsequent events and developments will cause Lucid's assessments to change. However, while Lucid may elect to update these forward-looking statements at some point in the future, Lucid specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Lucid's assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.

1)
GERMANY
Lucid Air 325 - 920 kW (442 - 1.251 PS), 694 - 960 km kombinierte Reichweite (WLTP), 0 g CO₂/km, 19,1 - 11,8 kWh/100 km, CO₂-Klasse: A.
Die Werte wurden nach dem vorgeschriebenen Verfahren WLTP (Worldwide Harmonized Light Vehicles Test Procedure) ermittelt. Der Energieverbrauch und die Reichweite des Fahrzeugs im tatsächlichen Betrieb sind von verschiedenen Faktoren abhängig, u.a. dem Einbau von Ausstattung aus dem Teilehandel und Zubehör sowie Wetter- und Verkehrsbedingungen und dem persönlichen Fahrverhalten.
Weitere Informationen zum offiziellen Kraftstoffverbrauch, den offiziellen spezifischen CO₂-Emissionen sowie zum Stromverbrauch neuer Personenkraftwagen sind im kostenlosen Leitfaden zum Kraftstoffverbrauch der Deutsche Automobil Treuhand (DAT), auch abrufbar unter www.dat.de/co2, verfügbar.

NETHERLANDS
Lucid Air 325 - 920 kW (442 - 1.251 pk), 694 - 960 km gecombineerde actieradius (WLTP), 0 g CO₂ per gereden km (WLTP), energieverbruik 19,1 - 11,8 kWh/100 km.
De actieradius is gebaseerd op de WLTP-procedure (Worldwide Harmonized Light Vehicles Test Procedure). De WLTP-waarden zijn gebaseerd op tests van het voertuig met de standaarduitrusting af fabriek. Het energieverbruik en de actieradius van een voertuig kunnen worden beïnvloed door de installatie van uitrustingen, onderdelen en accessoires, alsook door weers- en verkeersomstandigheden en persoonlijk rijgedrag.

SWITZERLAND – GERMAN
Lucid Air 325 - 920 kW (442 - 1.251 PS), 694 - 960 km kombinierte Reichweite (WLTP), Energieverbrauch (Fahrbetrieb): 19,1 - 11,8 kWh/100 km, Benzinäquivalent: 1,30 - 2,10 l/100 km, CO₂-Emissionen (Fahrbetrieb): 0 g/km, CO₂-Emissionen aus der Treibstoff- und/oder Strombereitstellung: 13 - 21 g/km, Energieeffizienz-Kategorie: A - C.
Die Werte wurden nach dem vorgeschriebenen Verfahren WLTP (Worldwide Harmonized Light Vehicles Test Procedure) ermittelt. Der Energieverbrauch und die Reichweite des Fahrzeugs im tatsächlichen Betrieb sind von verschiedenen Faktoren abhängig, u.a. dem Einbau von Ausstattung aus dem Teilehandel und Zubehör sowie Wetter- und Verkehrsbedingungen und dem persönlichen Fahrverhalten.
CO₂ ist das für die Erderwärmung hauptverantwortliche Treibhausgas; die mittlere CO₂-Emission aller (markenübergreifend) angebotenen Fahrzeugtypen beträgt 111 g/km für das Jahr 2026; der Zielwert liegt bei 93,6 g/km.

SWITZERLAND – FRENCH
Lucid Air 325 - 920 kW (442 - 1.251 ch), 694 - 960 km d'autonomie combinée (WLTP), consommation d'énergie (liée à la conduite): 19,1 - 11,8 kWh/100 km, équivalent essence: 1,30 - 2,10 l/100 km, émissions de CO₂ (liées à la conduite): 0 g/km, émissions de CO₂ liées à la fourniture de carburant et/ou d'électricité: 13 - 21 g/km, catégorie d'efficacité énergétique: A - C.
Les valeurs d'autonomie sont basées sur la procédure WLTP (Worldwide Harmonized Light Vehicles Test Procedure, Procédure d'essai mondiale harmonisée pour les véhicules légers). Les valeurs WLTP sont déterminées à partir de tests réalisés avec l'équipement standard d'usine. La consommation d'énergie et l'autonomie peuvent être influencées par l'installation de pièces, d'équipements et d'accessoires achetés sur le marché, ainsi que par des facteurs tels que les conditions météorologiques, les conditions de circulation et le style de conduite.
Le CO₂ est le principal gaz à effet de serre responsable du réchauffement climatique; les émissions moyennes de CO₂ de tous les types de véhicules proposés (quelle que soit la marque) s'élèvent à 111 g/km pour l'année 2026, la valeur cible provisoire étant 93,6 g/km.

NORWAY
Lucid Air 325 - 920 kW (442 - 1.251 hk), 694 - 960 km kombinert rekkevidde (WLTP), 0 g CO₂/km, 19,1 - 11,8 kWh/100 km.
Rekkevidden er bestemt i henhold til WLTP-prosedyren (Worldwide Harmonized Light Vehicles Test Procedure). WLTP-verdiene er basert på tester av kjøretøyet med standardutstyret fra fabrikken. Bilens energiforbruk og rekkevidde kan påvirkes av ettermontert utstyr og tilbehør, vær- og trafikkforhold samt personlig kjøreatferd.

2)
GERMANY Lucid Gravity 418 - 617 kW (568 - 839 PS), 511 - 748 km kombinierte Reichweite (WLTP), 0 g CO₂/km, 19,4 - 18,2 kWh/100 km, CO₂-Klasse: A.
Die Werte wurden nach dem vorgeschriebenen Verfahren WLTP (Worldwide Harmonized Light Vehicles Test Procedure) ermittelt. Der Energieverbrauch und die Reichweite des Fahrzeugs im tatsächlichen Betrieb sind von verschiedenen Faktoren abhängig, u.a. dem Einbau von Ausstattung aus dem Teilehandel und Zubehör sowie Wetter- und Verkehrsbedingungen und dem persönlichen Fahrverhalten.
Weitere Informationen zum offiziellen Kraftstoffverbrauch, den offiziellen spezifischen CO₂-Emissionen sowie zum Stromverbrauch neuer Personenkraftwagen sind im kostenlosen Leitfaden zum Kraftstoffverbrauch der Deutsche Automobil Treuhand (DAT), auch abrufbar unter www.dat.de/co2, verfügbar.

NETHERLANDS
Lucid Gravity 418 - 617 kW (568 - 839 pk), 511 - 748 km gecombineerde actieradius (WLTP), 0 g CO₂ per gereden km, energieverbruik 19,4 - 18,2 kWh/100 km.
De actieradius is gebaseerd op de WLTP-procedure (Worldwide Harmonized Light Vehicles Test Procedure). De WLTP-waarden zijn gebaseerd op tests van het voertuig met de standaarduitrusting af fabriek. Het energieverbruik en de actieradius van een voertuig kunnen worden beïnvloed door de installatie van uitrustingen, onderdelen en accessoires, alsook door weers- en verkeersomstandigheden en persoonlijk rijgedrag.

SWITZERLAND – GERMAN
Lucid Gravity 418 - 617 kW (568 - 839 PS), 511 - 748 km kombinierte Reichweite (WLTP), Energieverbrauch (Fahrbetrieb): 19,4 - 18,2 kWh/100 km, Benzinäquivalent: 2,00 - 2,13 l/100 km, CO₂-Emissionen (Fahrbetrieb): 0 g/km, CO₂-Emissionen aus der Treibstoff- und/oder Strombereitstellung: 20 - 22 g/km, Energieeffizienz-Kategorie: B - C.
Die Werte wurden nach dem vorgeschriebenen Verfahren WLTP (Worldwide Harmonized Light Vehicles Test Procedure) ermittelt. Der Energieverbrauch und die Reichweite des Fahrzeugs im tatsächlichen Betrieb sind von verschiedenen Faktoren abhängig, u.a. dem Einbau von Ausstattung aus dem Teilehandel und Zubehör sowie Wetter- und Verkehrsbedingungen und dem persönlichen Fahrverhalten.
CO₂ ist das für die Erderwärmung hauptverantwortliche Treibhausgas; die mittlere CO₂-Emission aller (markenübergreifend) angebotenen Fahrzeugtypen beträgt 111 g/km für das Jahr 2026; der Zielwert liegt bei 93,6 g/km.

SWITZERLAND – FRENCH
Lucid Gravity 418 - 617 kW (568 - 839 ch), 511 - 748 km d'autonomie combinée (WLTP), consommation d'énergie (liée à la conduite): 19,4 - 18,2 kWh/100 km, équivalent essence: 2,00 - 2,13 l/100 km, émissions de CO₂ (liées à la conduite): 0 g/km, émissions de CO₂ liées à la fourniture de carburant et/ou d'électricité: 20 - 22 g/km, catégorie d'efficacité énergétique: B - C.
Les valeurs d'autonomie sont basées sur la procédure WLTP (Worldwide Harmonized Light Vehicles Test Procedure, Procédure d'essai mondiale harmonisée pour les véhicules légers). Les valeurs WLTP sont déterminées à partir de tests réalisés avec l'équipement standard d'usine. La consommation d'énergie et l'autonomie peuvent être influencées par l'installation de pièces, d'équipements et d'accessoires achetés sur le marché, ainsi que par des facteurs tels que les conditions météorologiques, les conditions de circulation et le style de conduite.
Le CO₂ est le principal gaz à effet de serre responsable du réchauffement climatique; les émissions moyennes de CO₂ de tous les types de véhicules proposés (quelle que soit la marque) s'élèvent à 111 g/km pour l'année 2026, la valeur cible provisoire étant 93,6 g/km.

NORWAY
Lucid Gravity 418 - 617 kW (568 - 839 hk), 511 - 748 km kombinert rekkevidde (WLTP), 0 g CO₂/km, 19,4 - 18,2 kWh/100 km.
Rekkevidden er bestemt i henhold til WLTP-prosedyren (Worldwide Harmonized Light Vehicles Test Procedure). WLTP-verdiene er basert på tester av kjøretøyet med standardutstyret fra fabrikken. Bilens energiforbruk og rekkevidde kan påvirkes av ettermontert utstyr og tilbehør, vær- og trafikkforhold samt personlig kjøreatferd.

View original content to download multimedia:https://www.prnewswire.com/news-releases/lucid-announces-munsterhuis-autobedrijven-as-first-retail-partner-in-the-netherlands-302853229.html

SOURCE Lucid Group

Lucid's second-quarter loss widened, and cash burn remained high. Now Lucid is delaying its midsize Cosmos SUV until at least 2027, perhaps even later.

Lucid (NASDAQ: LCID) stock’s dramatic price swings within the last month of trading have left analysts divided in their assessments of the electric vehicle (EV) maker, though recent notes show a clear bias toward a bearish outlook.

Lucid stock price one-month chart. Source: Google Specifically, after the July bout of optimism for LCID shares, August brought the more negative view into sharper focus, with no Wall Street rating revision since the month started proving bullish.

In fact, Stephen Gengaro from Stifel Nicolaus proved the biggest optimist among his peers when he, on August 5, issued a ‘Hold’ recommendation for Lucid and a $17 12-month stock price target.

Indeed, the other Wall Street analysts whose assessment of LCID is ‘Neutral’ – Cantor Fitzgerald, Needham, and TD Cowen – all forecasted the EV maker’s equity would stand at either $7 or $8 in the next 52 weeks.

Bank of America’s (NYSE: BAC) Alexander Perry and Morgan Stanley (NYSE: MS) analyst Andrew Percoco came in on the other end of the spectrum and rated Lucid stock as a ‘Sell,’ with the latter also providing the Street low price target of $5.

Analysts predict Lucid stock price target in the next 12 months Elsewhere, the August recommendations proved in line with the long-running Wall Street view of LCID. Specifically, the EV maker is overall considered a ‘Hold’ by institutional analysts, with five viewing it as such, one giving it a ‘Buy,’ and two a ‘Sell’ recommendation.

Still, Lucid stock is, on average, expected to rise 50.10% from its latest closing price of $6.44 to $9.67 within the next 12 months, per the data Finbold retrieved from TipRanks on August 14.

Wall Street sets Lucid stock price target for next 12 months. Source: TipRanks Why Wall Street remains cautious regarding Lucid stock Meanwhile, the recent mix of ratings can be explained by LCID shares’ strong upward moves in July, but also by the correction that arrived with the August 4 earnings report.

Most notably, Lucid stock soared 21% on July 28, driven by investor optimism after a large stake held by a member of the Saudi royal family – the billionaire Prince Al Waleed bin Talal Al Saud – became known, as it was viewed as a strong show of confidence by some of the EV maker’s biggest backers.

The car company’s August earnings, however, dampened the enthusiasm as both the firm’s revenue and loss per share came in lower than expected. Specifically, sales in the quarter came in at $405 million while analysts were calling for $416 million, and the loss amounted to $3.30 instead of the forecasted $2.46.

Featured image via Shutterstock

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, /PRNewswire/ -- Lucid Group, Inc. (Nasdaq: LCID), maker of the world's most advanced electric vehicles, today announced that it has filed a prospectus supplement with the Securities and Exchange Commission to register for resale up to (i) 55,000 shares of its Series C Convertible Preferred Stock, (ii) 51,651,489 shares of its Class A Common Stock that may be issued upon conversion of the Series C Convertible Preferred Stock as of June 30, 2026, and (iii) 24,038,462 shares of its Class A Common Stock.

No new shares will be issued or sold by Lucid in connection with this resale prospectus supplement. The shares were registered solely to fulfill Lucid's contractual obligations to (i) Ayar Third Investment Company, an affiliate of the Public Investment Fund, with respect to shares of Series C Convertible Preferred Stock issued to Ayar in a private placement, and (ii) SMB Holding Corporation, a subsidiary of Uber Technologies, Inc., with respect to shares of Class A Common Stock issued to SMB in a private placement.

Registration of these shares does not mean that the holders will offer or sell any of their securities. In fact, SMB is subject to transfer restrictions with respect to its shares until October 2027, and Ayar is subject to transfer restrictions with respect to its Series C Convertible Preferred Stock and any shares of Class A Common Stock issuable upon conversion thereof until April 2027. The Series C Convertible Preferred Stock is also subject to the conversion terms and other conditions set forth in its Certificate of Designations.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of Lucid's securities, nor shall there be any sale of Lucid's securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Lucid Group

Lucid (NASDAQ: LCID) is a Silicon Valley-based technology company focused on creating the most advanced EVs in the world. The award-winning Lucid Air and Lucid Gravity deliver best-in-class performance, sophisticated design, expansive interior space and unrivaled energy efficiency. Lucid assembles both vehicles in its state-of-the-art, vertically integrated factories in Arizona and Saudi Arabia. Through its industry-leading technology and innovations, Lucid is advancing the state-of-the-art of EV technology for the benefit of all.

Investor Relations Contact
[email protected]

Media Contact
[email protected]

Forward-Looking Statements

This communication includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "shall," "expect," "anticipate," "believe," "seek," "target," "continue," "could," "may," "might," "possible," "potential," "predict" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the timing of the sale of shares of Lucid's Series C Convertible Preferred Stock and common stock. Actual events and circumstances may differ from these forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties. Among those risks and uncertainties are market conditions and risks relating to Lucid's business, including those factors discussed under the cautionary language and the Risk Factors in Lucid's Annual Report on Form 10-K for the year ended December 31, 2025, subsequent Quarterly Reports on Form 10-Q and other documents Lucid has filed or will file with the Securities and Exchange Commission. If any of these risks materialize or Lucid's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Lucid currently does not know or that Lucid currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Lucid's expectations, plans or forecasts of future events and views as of the date of this communication. Lucid anticipates that subsequent events and developments will cause Lucid's assessments to change. However, while Lucid may elect to update these forward-looking statements at some point in the future, Lucid specifically disclaims any obligation to do so. Accordingly, undue reliance should not be placed upon the forward-looking statements.

SOURCE Lucid Group

Lucid Group (LCID +2.51%) reported second-quarter results this week, and the stock plunged more than 10% on the news. The stock pared some of that drop but was still down 6% for the week as of Friday morning, according to data provided by S&P Global Market Intelligence.

Lucid CEO Silvio Napoli has been in the job for two months, and this week he let the market know exactly what his plan is. Let's look at what Napoli's "operational reset" for Lucid will look like.

Image source: Getty Images.

Napoli is tightening the company's focus to four strategic paths. While Lucid increased vehicle deliveries by 19% in Q2 versus last year, selling its current electric vehicle (EV) lineup is no longer a priority. Lucid's Air sedan and even its newer Gravity SUV are luxury vehicles with a limited market appeal.

The new CEO summarized his plan this way:

We are going back to basics, with a clear focus on cash, customers, and culture. We are focused on delivering on our four must-win priorities, including our $1.4 billion cash flow improvement plan and the advancement of our Robotaxi, AMP-2, and Midsize programs, which will establish a strong foundation for Lucid's next chapter.

Lucid is working with Uber Technologies and autonomous vehicle technology company Nuro for a robotaxi fleet program. AMP-2 is its manufacturing facility in Saudi Arabia, and the company is working to offer a smaller, more affordable model.

Today's Change

(

2.51

%) $

0.18

Current Price

$

7.16

This new plan could be Lucid's last chance for survival. Buying the stock now would mean believing that the new CEO can successfully implement the new strategy on all fronts. That remains to be seen, and I would wait until progress is made before jumping into Lucid at this stage.

Howard Smith has positions in Lucid Group. The Motley Fool recommends Uber Technologies. The Motley Fool has a disclosure policy.

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Lucid said it's holding back the launch of its third model after its CEO said the first two launches were too shoddy Lucid Lucid Motors has a new CEO — and he has a blunt new assessment of what's gone wrong at the EV maker.

During an earnings call on Tuesday, Silvio Napoli, the company's chief executive since June, said the automaker has "disappointed on several fronts and for far too long." The company reported a net loss of more than $1 billion in the quarter.

"We have not executed consistently," he said. "We missed commitments, launched products before they were ready, under-invested in service, responded too slowly to quality issues, and allowed complexity to slow decisions down."

Lucid has launched two luxury electric vehicles, the Air sedan and the Gravity three-row SUV. Owners have told the Business Insider that the vehicles have been marred by software glitches, including key fob and infotainment issues.

Now, Lucid says it is changing how it develops its next car.

That will push its planned launch of the roughly $50,000 midsize Cosmos into the second half of 2027 — it was expected to start production this year.

The automaker has introduced new "quality gates" intended to ensure that all production and quality requirements are met before launch, a spokesperson told Business Insider. Lucid declined to explain how the checks differ from its previous process.

Napoli said the Cosmos "will launch only when every process and quality requirement has been met."

Company materials show that Cosmos prototypes are undergoing crash development, aerodynamic refinement, cold-weather evaluation, and battery and drive-unit testing. Lucid said more prototype builds, regulatory work, and manufacturing validation remain.

Lucid said it's testing the coming Cosmos midsize SUV. Production was pushed back to next year.  Lucid The delay gives rivals more time to establish themselves in the midsize electric SUV market. Rivian began delivering its R2 in June, while Tesla recently brought the three-row Model Y L to the US.

Lucid was founded by former Tesla engineers seeking to build a more efficient EV and is backed by Saudi Arabia's Public Investment Fund. It has lost money since it began producing cars.

The company has already scaled back significantly this year after overproducing its Gravity SUV. It cut 12% of its workforce in February and another 18% in June, while removing the chief operating officer role. Napoli has swiftly changed the company's C-suite, too.

The reset plans also come weeks after Lucid strongly rejected bankruptcy rumors. The company said on Tuesday that it has about $3 billion in total liquidity.

"We have a clear understanding of the key issues," Napoli said on the call. "A deep transformation is in motion at Lucid."

Work at Lucid? We want to hear from you. Contact Ben Shimkus at [email protected] or Signal at bshimkus.41. Use a personal email address and a nonwork device.

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Ben Shimkus You're currently following this author! Want to unfollow? Unsubscribe via the link in your email.

Ben Shimkus is a reporter for the Business News desk. He writes about cars, transportation, retail, and jobs. Ben's reporting has appeared in Rolling Stone, The Verge, Automotive News, USA Today, AutoBody News, LGBTQ Nation, TopSpeed, and Out Magazine. He's also held staff writing positions at The U.S. Sun and the Daily Mail. He graduated from NYU with a Master's in journalism in 2024. Email Ben at [email protected] or message him privately on Signal at bshimkus.41. 

Lucid stock has struggled mightily over the long term. Management believes robotaxis will revitalize its business.

Key Takeaways Lucid's Q2 revenues rose 56.2% to $405 million as deliveries, product mix and credit sales improved.A $300 million inventory impairment widened losses and cut gross margin by 74 percentage points.Lucid targets $1.4 billion in 2026 cash flow gains while reducing output and working down inventory. Lucid Group, Inc. (LCID - Free Report) reported a second-quarter 2026 loss of $3.30 per share, wider than the year-ago loss of $2.80 as well as the Zacks Consensus Estimate of a loss of $2.72.

Revenues surged 56.2% year over year to $405 million and beat the consensus estimate of $323 million by 25.4%. Higher vehicle deliveries, improved product mix and increased regulatory credit sales supported the top line.

LCID’s Deliveries and Product Mix Lift SalesLucid produced 4,774 vehicles during the quarter, up 24% year over year. Production declined 13% sequentially as management deliberately reduced output to align manufacturing with near-term demand and limit further inventory growth.

Deliveries rose to 3,953 vehicles, up 19% year over year and 28% sequentially. Lucid Gravity accounted for the majority of volumes. Revenues also benefited from a 3.7% sequential increase in average selling price and a $25 million increase in regulatory credit sales. Deliveries in the Middle East improved during the quarter.

Lucid currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Lucid’s Gross Margin Stays Deeply NegativeGross margin was negative 105%, compared with negative 110% in the first quarter and negative 105% a year ago. Lower production reduced fixed-cost absorption and raised conversion costs per vehicle, offsetting the benefits of higher revenues and improved pricing.

Results included roughly $300 million of inventory impairment charges, which reduced gross margin by 74 percentage points. The charge reflected a reassessment of inventory carrying values and expected demand. Lucid also reduced firm purchase commitments to lower future inventory obligations and cash requirements.

LCID Targets $1.4B in Cash Flow ImprovementsAdjusted EBITDA loss widened to $901.1 million from $632.1 million in the year-ago quarter. Operating expenses included $321.3 million of research and development costs, $300.4 million of selling, general and administrative expenses and $33.7 million of workforce-reduction charges.

Management identified $1.4 billion of cash flow improvements for 2026. The plan includes projected inventory savings of $600-$800 million, capital expenditure reductions of about $500 million and operating expense savings of roughly $200 million. Lucid’s U.S. workforce reduction and elimination of the second shift at its Arizona factory are expected to generate $158 million in annualized savings.

Lucid Advances Robotaxi and AMP-2 ProgramsLucid’s robotaxi program with Uber and Nuro moved deeper into testing and validation. The engineering fleet includes nearly 100 vehicles operating across the San Francisco Bay Area and Houston. Production-validation Gravity vehicles have begun reaching partners, with regular production expected in the fourth quarter and service launch targeted for late 2026.

The AMP-2 factory in Saudi Arabia has shifted from construction to industrialization. Manufacturing systems for stamping, body, paint and final assembly are being installed and tested. Lucid expects the facility to be ready for production in early 2027 and for midsize production in the second half of that year.

LCID’s Balance Sheet and Liquidity PositionLucid ended the June quarter with $3 billion of total liquidity, including about $800 million of cash and investments and $2.2 billion of available borrowing capacity.

Free cash flow was negative $1.48 billion, compared with negative $1.01 billion a year earlier. Net cash used in operating activities totaled $1.22 billion, while capital expenditures were $253.8 million. Inventory increased to $1.38 billion from $1.11 billion at the end of 2025.

Lucid Withholds GuidanceLucid did not provide quantitative financial guidance. Management expects third- and fourth-quarter production to remain below second-quarter levels as AMP-1 operates with one shift through year-end.

Deliveries are expected to exceed production during the second half as Lucid works down finished-vehicle inventory. Management anticipates sequential delivery growth consistent with normal seasonality, though at a more moderate pace than in the prior year. The company expects its current liquidity and operational measures to provide runway well into 2027.

Key Releases From the Auto SpaceGeneral Motors (GM - Free Report) reported second-quarter 2026 adjusted earnings of $3.57 per share, up 41.3% year over year. The figure beat the Zacks Consensus Estimate of $3.13 by 14.06%. Revenues increased 1.9% to $48.03 billion and surpassed the consensus estimate of $46.56 billion by 3.15%. General Motors raised its full-year adjusted EBIT guidance to $14-$16 billion from $13.5-$15.5 billion. Adjusted earnings are now projected in the range of $12-$14 per share, up from the prior range of $11.50-$13.50.

Tesla, Inc. (TSLA - Free Report) reported second-quarter 2026 adjusted earnings of 33 cents per share, which declined 17.5% year over year. The figure missed the Zacks Consensus Estimate of 50 cents by 34%. Revenues advanced 25.5% to $28.24 billion and surpassed the consensus estimate of $25.81 billion by 9.41%. Tesla expects 2026 capital expenditures to exceed $25 billion and rise further over the next two to three years. 

Ford (F - Free Report) reported second-quarter 2026 adjusted earnings of 42 cents per share, beating the Zacks Consensus Estimate of 33 cents by 27.27%. Earnings rose 13.5% from 37 cents a year ago. Automotive revenues of $44.89 billion fell 4.4% year over year and missed the consensus mark of $45.72 billion by 1.81%. Ford’s consolidated second-quarter revenues came in at $48.3 billion, down 3.7% year over year. The company raised its full-year adjusted EBIT outlook to $10-$11 billion from $8.5-$10.5 billion. 

Lucid Group, Inc. (LCID) Q2 2026 Earnings Call Transcript

Lucid Group (LCID - Free Report) came out with a quarterly loss of $3.3 per share versus the Zacks Consensus Estimate of a loss of $3.12. This compares to a loss of $2.8 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -5.77%. A quarter ago, it was expected that this an electric vehicle automaker would post a loss of $2.72 per share when it actually produced a loss of $3.46, delivering a surprise of -27.21%.

Over the last four quarters, the company has not been able to surpass consensus EPS estimates.

Lucid Group, which belongs to the Zacks Automotive - Domestic industry, posted revenues of $405.35 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 25.37%. This compares to year-ago revenues of $259.43 million. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Lucid Group shares have lost about 27.2% since the beginning of the year versus the S&P 500's gain of 11%.

What's Next for Lucid Group?While Lucid Group has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Lucid Group was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #5 (Strong Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$2.93 on $495.62 million in revenues for the coming quarter and -$11.93 on $1.75 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Automotive - Domestic is currently in the top 32% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Fox Factory Holding (FOXF - Free Report) , is yet to report results for the quarter ended June 2026. The results are expected to be released on August 6.

This vehicle suspension maker is expected to post quarterly earnings of $0.16 per share in its upcoming report, which represents a year-over-year change of -60%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Fox Factory Holding's revenues are expected to be $353.07 million, down 5.8% from the year-ago quarter.

Transformation program launched, starting with a focus on Back-to-Basics

Identified $1.4 billion cash flow improvement opportunities in 2026 across operating expenses, capital expenditures, and working capital Launched plan to refocus on three key areas: Cash & Cost, Customer & Quality, Culture & Team  Four strategic projects earmarked as top priorities for resource allocation and capital deployment New simplified organizational structure aligned with priorities, halving CEO reports and enforcing accountability Q2 Results 

Produced 4,774 vehicles, up 24% year over year, with production intentionally reduced to lower inventory and free up cash Delivered 3,953 vehicles, up 19% year over year Generated second quarter revenue of $405 million, up 56% year over year Ended the quarter with $3.0 billion in total liquidity Recently secured financing, combined with ongoing operational measures, provide sufficient liquidity runway well into 2027 Operational Highlights 

Robotaxi program began deliveries of Lucid Gravity Production-Validation vehicles, with testing underway by Uber and Nuro across the San Francisco Bay Area and Houston   AMP-2 manufacturing facility in Saudi Arabia has transitioned from construction to industrialization, with installation and tuning of manufacturing ongoing Midsize program development continues, with prototype vehicles and Atlas drive units progressing through validation and production readiness activities , /PRNewswire/ -- Lucid Group, Inc. (NASDAQ: LCID), maker of the world's most advanced software-defined vehicles and technologies, today announced financial results for its second quarter ended June 30, 2026, and outlined a comprehensive operational reset focused on strengthening execution, reducing cash burn and improving the customer experience.

"Lucid has leading technology, compelling products and deeply committed people, but potential is not performance," said Silvio Napoli, CEO of Lucid. "We are going back to basics, with a clear focus on cash, customers, and culture. We are focused on delivering on our four must win priorities, including our $1.4 billion cash flow improvement plan and the advancement of our Robotaxi, AMP-2, and Midsize programs, which will establish a strong foundation for Lucid's next chapter."

"Silvio and his leadership team are transforming the company, and the Board stands firmly behind their actions," said Turqi Alnowaiser, Chairman of Lucid. "The actions underway are intended to strengthen the company's execution, improve the customer experience, and translate Lucid's technology and product leadership into long-term value for customers and shareholders."

Three Priorities Guiding Lucid's Operational Reset

Lucid is refocusing the organization around three priorities designed to improve execution and strengthen the business.

Cash and Cost. Lucid is applying greater discipline to spending, investment decisions and capital allocation, while protecting the technologies and programs most important to its long-term competitiveness.

The company has deliberately reduced production to better align output with anticipated demand, convert inventory into deliveries and cash, and improve working capital.

Customer and Quality. Lucid is strengthening the ownership experience to match the performance of its vehicles, with a focus on product readiness, delivery experience, service responsiveness and parts availability as we invest in technicians and dedicated staff to reduce wait times by one third this year.

Culture and Team. Lucid is simplifying the organization, reducing layers and clarifying accountability to accelerate decisions and build a culture of ownership, performance and consistent execution.

The new structure halves the number of direct reports to the CEO and places experienced leaders in key roles across finance, technology, customer experience, transformation, digital and program execution. These changes are intended to accelerate decision-making, clarify ownership and build a performance-driven culture.

Four Strategic Projects

Lucid has identified four must-win projects.  

$1.4 billion cash savings plan. Lucid has identified $1.4 billion in cash reductions in 2026, including projected savings of approximately $600 million to $800 million in inventory, approximately $500 million in capital expenditures, and approximately $200 million in operating expenses. The operating expense actions include projected savings from the U.S. workforce reduction announced in June, expected to provide approximately $158 million in annualized savings. This represents the initial output of the company's broader business review underway.

Robotaxi. The company's robotaxi program with Uber and Nuro is a top priority and an important opportunity to extend Lucid's technology beyond privately owned vehicles. The program is in active testing and validation, supported by a fleet of nearly 100 vehicles across the San Francisco Bay Area and Houston. The company has begun delivering production-validation Lucid Gravity vehicles to Nuro. Moving forward, this project will be part of Lucid Technologies, a dedicated business unit bringing together AI, advanced driver-assistance, and digital capabilities.

AMP-2. Lucid's factory in Saudi Arabia is transitioning from construction to industrialization. Manufacturing systems across stamping, body, paint and final assembly are being installed and commissioned in preparation for production trials.

Midsize. Continued progress on the Midsize program, with Atlas drive units and prototype vehicles advancing through validation, durability testing, crash certification, battery-pack manufacturing validation, and cold-weather testing in New Zealand.

Second Quarter 2026 Performance

Lucid produced 4,774 vehicles and delivered 3,953 vehicles during the second quarter. The company moderated production to better align output with anticipated deliveries, reduce inventory and preserve cash.

Lucid reported second quarter revenue of $405 million and ended the quarter with $3.0 billion in total liquidity. Recently secured financing, in conjunction with operational actions the company is taking, is expected to provide sufficient liquidity runway well into 2027.

Conference Call Information

Lucid will host a conference call to discuss its second quarter 2026 financial results on Tuesday, August 4, 2026, at 2:30 pm PT / 5:30 pm ET. The live webcast of the conference call will be available on the Investor Relations website at ir.lucidmotors.com. Following the completion of the call, a replay will be available on the same website. Lucid uses its ir.lucidmotors.com website as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.

About Lucid Group

Lucid Group, Inc. (NASDAQ: LCID) is a technology company creating exceptional mobility experiences through innovation to drive the world forward. Built on Lucid's proprietary technology and software defined vehicle architectures, the company's lineup of award-winning vehicles brings Lucid's "Compromise Nothing™" approach to premium segments of the global automotive market. Lucid designs and engineers its products in-house and assembles at its vertically integrated facilities in Arizona and Saudi Arabia, enabling continuous innovation across vehicles, software, and advanced driver assistance and autonomy-ready capabilities.

Investor Relations Contact
[email protected]

Media Contact
[email protected]

Trademarks

This communication contains trademarks, service marks, trade names and copyrights of Lucid Group, Inc. and its subsidiaries and other companies, which are the property of their respective owners.

Forward-Looking Statements

This communication includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "shall," "expect," "anticipate," "believe," "seek," "target," "continue," "could," "may," "might," "possible," "potential," "predict," "scheduled," "aiming," "targeting," "objective," "focus," "strategic" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding results of operations, financial outlook and condition, guidance, liquidity, capital expenditures, its cash flow improvement plan, the expected savings from eliminating the second shift at AMP-1, prospects, growth, production volumes, strategies, management, and the markets in which Lucid operates, including expectations of financial and operational metrics, projections of market opportunity, market share and product sales, plans and expectations related to commercial product launches and future programs, initiatives and products, including the Midsize program, plans and expectations on vehicle production and delivery timing and volumes, expectations regarding market opportunities and demand for Lucid's products, the range, features, specifications, performance, production and delivery of Lucid's vehicles and potential impact on markets, plans and expectations regarding further monetization opportunities, plans and expectations regarding Lucid's software, technology features and capabilities, including with respect to battery and powertrain systems, plans and expectations regarding Lucid's systems approach to the design of the vehicles, estimate of Lucid's technology lead over competitors, estimate of the length of time Lucid's existing cash, cash equivalents and investments will be sufficient to fund planned operations, plans and expectations regarding Lucid's liquidity runway and cash flow improvement plans, future capital raises and funding strategy, plans and expectations regarding future manufacturing capabilities and facilities, logistics and supply chain, studio and service center openings, sales channels and strategies, test drive, appointment wait times, ability to mitigate supply chain and logistics risks, plans and expectations regarding expansion and construction of Lucid's AMP-1 and AMP-2 manufacturing facilities and capabilities, including potential benefits, ability to vertically integrate production processes, future market launches and international expansion, Lucid's ability to grow its brand awareness, expectations regarding executive leadership transitions, the potential success of Lucid's distribution strategy and future vehicle programs, changes to future or existing vehicle programs, the company's plans regarding increasing the number of technicians and concierges, potential automotive and strategic partnerships and their anticipated benefits, plans and expectations regarding Lucid's ADAS/AV roadmap and robotaxi program, expectations on the technology licensing landscape, expectations on the regulatory and political environment, and the promise of Lucid's technology. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of Lucid's management. These forward-looking statements are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from these forward-looking statements. Many actual events and circumstances are beyond the control of Lucid. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, economic, market, financial, political, regulatory and legal conditions, including uncertainties and changes in policies, imposition or proposed imposition of tariffs, export controls, threat of a trade war, the risk of a global economic recession or other downturn, bank closures and liquidity concerns at financial institutions, and global or regional conflicts or other geopolitical events, including the military operations in the Gulf region and the Middle East, and the potential escalation and the broadening of the conflict in Iran; the outcome of Lucid's broader business review, which remains underway; risks related to changes in overall demand for Lucid's products and services and cancellation of orders for Lucid's vehicles; risks related to prices and availability of commodities and components, including rare earth minerals, semiconductors and their related products, Lucid's supply chain, logistics, inventory management and quality control, and Lucid's ability to complete the tooling of its manufacturing facilities over time and scale production of Lucid's vehicles; risks related to the uncertainty of Lucid's projected financial and operational information; risks related to the timing of expected business milestones and commercial product launches; risks related to the construction and expansion of Lucid's manufacturing facilities and the increase of Lucid's production capacity; Lucid's ability to manage expenses and control costs; risks related to future market adoption of Lucid's offerings; the quality, reliability, and performance of Lucid's vehicles and services; the effects of competition and the pace and depth of electric vehicle adoption generally on Lucid's business; changes in regulatory requirements, policies, and governmental incentives; changes in fuel and energy prices; Lucid's ability to rapidly innovate; Lucid's ability to enter into or maintain partnerships with original equipment manufacturers, vendors and technology providers, including its ability to realize the anticipated benefits of its partnerships with Aston Martin, Uber, Nuro and NVIDIA; Lucid's ability to effectively recruit, integrate, motivate, and retain key employees, including recent changes to our executive team; risks related to potential vehicle recalls; Lucid's ability to establish and expand its brand, and capture additional market share, and the risks associated with negative press or reputational harm; the risk that Lucid's cash flow improvement plan does not achieve the anticipated effect, or results in unexpected quality issues or delays; risks related to Lucid's outstanding redeemable convertible preferred stock and convertible senior notes; availability, reduction or elimination of, and Lucid's ability to obtain and effectively utilize, zero emission vehicle credits, tax incentives, and other governmental and regulatory programs and incentives; Lucid's ability to conduct equity, equity-linked or debt financing in the future; Lucid's ability to pay interest and principal on its indebtedness; future changes to vehicle specifications which may impact performance, features, pricing and other expectations; the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries; and those factors discussed under the cautionary language and the Risk Factors in Lucid's Annual Report on Form 10-K for the year ended December 31, 2025, subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other documents Lucid has filed or will file with the Securities and Exchange Commission. If any of these risks or uncertainties materialize, or Lucid's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Lucid currently does not know or that Lucid currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Lucid's expectations, plans or forecasts of future events and views as of the date of this communication. Lucid anticipates that subsequent events and developments will cause Lucid's assessments to change. However, while Lucid may elect to update these forward-looking statements at some point in the future, Lucid specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Lucid's assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Non-GAAP Financial Measures and Key Business Metrics

Condensed consolidated financial information has been presented in accordance with US GAAP ("GAAP") as well as on a non-GAAP basis to supplement Lucid's condensed consolidated financial results. Lucid's non-GAAP financial measures include Adjusted EBITDA, adjusted net loss attributable to common stockholders (diluted), adjusted net loss per share attributable to common stockholders (diluted), and free cash flow, which are discussed below.

Adjusted EBITDA is defined as net loss attributable to common stockholders (basic) before (1) interest expense, (2) interest income, (3) provision for (benefit from) income taxes, (4) depreciation and amortization, (5) stock-based compensation, (6) workforce reduction charges, (7) change in fair value of common stock warrant liability, (8) change in fair value of equity securities of a related party, (9) change in fair value of derivative liabilities and subscription agreements associated with redeemable convertible preferred stock (related party), (10) accretion of redeemable convertible preferred stock (related party), and (11) gain on extinguishment of debt. Lucid believes that Adjusted EBITDA provides useful information to Lucid's management and investors about Lucid's financial performance.

Adjusted net loss attributable to common stockholders (diluted) is defined as net loss attributable to common stockholders (diluted) excluding (1) stock-based compensation, (2) workforce reduction charges, (3) change in fair value of common stock warrant liability, (4) change in fair value of equity securities of a related party, (5) change in fair value of derivative liabilities and subscription agreements associated with redeemable convertible preferred stock (related party), and (6) accretion of redeemable convertible preferred stock (related party).

Lucid defines and calculates adjusted net loss per share attributable to common stockholders (diluted) as adjusted net loss attributable to common stockholders (diluted) divided by weighted-average shares outstanding attributable to common stockholders (diluted).

Lucid believes that adjusted net loss attributable to common stockholders (diluted) and adjusted net loss per share attributable to common stockholders (diluted) financial measures provide investors with useful information to evaluate the performance of its business excluding items not reflecting ongoing operating activities.

Free cash flow is defined as net cash used in operating activities less capital expenditures. Lucid believes that free cash flow provides useful information to Lucid's management and investors about the amount of cash generated by the business after necessary capital expenditures.

These non-GAAP financial measures facilitate management's internal comparisons to Lucid's historical performance. Management believes that it is useful to supplement its GAAP financial statements with this non-GAAP information because management uses such information internally for its operating, budgeting, and financial planning purposes. Management also believes that presentation of the non-GAAP financial measures provides useful information to Lucid's investors regarding measures of its financial condition and results of operations that Lucid uses to run the business and therefore allows investors to better understand Lucid's performance. However, these non-GAAP financial and key performance measures have limitations as analytical tools and you should not consider them in isolation or as substitutes for analysis of Lucid's results as reported under GAAP.

Non-GAAP information is not prepared under a comprehensive set of accounting rules and therefore, should only be read in conjunction with financial information reported under GAAP when understanding Lucid's operating performance. In addition, other companies, including companies in Lucid's industry, may calculate non-GAAP financial measures and key performance measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of Lucid's non-GAAP financial measures and key performance measures as tools for comparison. A reconciliation between GAAP and non-GAAP financial information is presented below.

LUCID GROUP, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(in thousands, except share and per share data)

June 30,
2026

December 31,
2025

ASSETS

Current assets:

Cash and cash equivalents

$       732,601

$       997,827

Short-term investments (including nil and $50,000 associated with a related party as of June 30, 2026 and December 31, 2025, respectively)

28,712

631,093

Accounts receivable, net (including $186,581 and $120,540 from a related party as of June 30, 2026 and December 31, 2025, respectively)

223,050

177,162

Inventory

1,378,653

1,109,529

Prepaid expenses

72,458

59,606

Other current assets

341,067

324,434

Total current assets

2,776,541

3,299,651

Property, plant and equipment, net

4,222,841

3,978,132

Right-of-use assets

249,019

241,974

Long-term investments (including $14,191 and $24,259 associated with a related party as of June 30, 2026 and December 31, 2025, respectively)

14,191

512,241

Other noncurrent assets

436,234

354,983

TOTAL ASSETS

$     7,698,826

$     8,386,981

LIABILITIES

Current liabilities:

Accounts payable

$       366,907

$       487,521

Finance lease liabilities, current portion

5,045

84,222

Current portion of debt ($503,088 and $467,963 associated with a related party as of June 30, 2026 and December 31, 2025, respectively)

707,142

671,746

Other current liabilities (including $73,134 and $81,580 associated with a related party as of June 30, 2026 and December 31, 2025, respectively)

1,359,101

1,392,641

Total current liabilities

2,438,195

2,636,130

Finance lease liabilities, net of current portion

102,685

104,559

Debt, net of current portion (including $497,426 and nil associated with a related party as of June 30, 2026 and December 31, 2025, respectively)

2,546,556

2,046,576

Other long-term liabilities (including $123,504 and $123,198 associated with related parties as of June 30, 2026 and December 31, 2025, respectively)

599,441

582,739

Derivative liabilities associated with redeemable convertible preferred stock (related party)

163,655

16,200

Total liabilities

5,850,532

5,386,204

REDEEMABLE CONVERTIBLE PREFERRED STOCK

Preferred stock 10,000,000 shares authorized as of June 30, 2026 and December 31, 2025, Series A redeemable convertible preferred stock, par value $0.0001; 100,000 shares issued and outstanding as of June 30, 2026 and December 31, 2025; liquidation preference of $1,470,165 and $1,350,441 as of June 30, 2026 and December 31, 2025, respectively (related party)

1,469,464

1,339,641

Preferred stock 10,000,000 shares authorized as of June 30, 2026 and December 31, 2025, Series B redeemable convertible preferred stock, par value $0.0001; 75,000 shares issued and outstanding as of June 30, 2026 and December 31, 2025; liquidation preference of $1,032,889 and $949,249 as of June 30, 2026 and December 31, 2025, respectively (related party)

1,032,514

943,849

Preferred stock 10,000,000 shares authorized as of June 30, 2026 and December 31, 2025, Series C redeemable convertible preferred stock, par value $0.0001; 55,000 and 0 shares issued and outstanding as of June 30, 2026 and December 31, 2025; liquidation preference of $566,859 and nil as of June 30, 2026 and December 31, 2025, respectively (related party)

404,279

—

Total redeemable convertible preferred stock

2,906,257

2,283,490

STOCKHOLDERS' EQUITY (DEFICIT)

Common stock, par value $0.0001; 1,500,000,000 shares authorized as of June 30, 2026 and December 31, 2025; 394,155,958 and 327,451,844 shares issued and 394,070,176 and 327,366,062 shares outstanding as of June 30, 2026 and December 31, 2025, respectively

39

33

Additional paid-in capital

16,636,039

16,337,023

Treasury stock, at cost, 85,782 shares at June 30, 2026 and December 31, 2025

(20,716)

(20,716)

Accumulated other comprehensive income

615

11,692

Accumulated deficit

(17,673,940)

(15,610,745)

Total stockholders' equity (deficit)

(1,057,963)

717,287

TOTAL LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT)

$     7,698,826

$     8,386,981

LUCID GROUP, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(Unaudited)

(in thousands, except share and per share data)

Three Months Ended
June 30,

Six Months Ended
June 30,

2026

2025

2026

2025

Revenue (including $96,188 and $30,247 from a related party for the three months ended June 30, 2026 and 2025, and $134,558 and $35,343 for the six months ended June 30, 2026 and 2025, respectively)

$       405,347

$       259,432

$       687,812

$       494,480

Costs and expenses

Cost of revenue

832,072

531,783

1,426,242

995,343

Research and development

321,336

273,839

657,006

525,085

Selling, general and administrative

300,432

256,857

604,608

469,032

Workforce reduction charges

33,675

—

71,609

—

Total cost and expenses

1,487,515

1,062,479

2,759,465

1,989,460

Loss from operations

(1,082,168)

(803,047)

(2,071,653)

(1,494,980)

Other income (expense), net

Change in fair value of common stock warrant liability

—

5,322

—

18,183

Change in fair value of equity securities of a related party

549

3,948

(9,672)

(9,505)

Change in fair value of derivative liabilities and subscription agreements associated with redeemable convertible preferred stock (related party)

102,790

111,475

110,165

393,175

Gain on extinguishment of debt

—

116,360

—

116,360

Interest income

9,634

44,318

22,738

96,527

Interest expense (including $23,363 and $4,912 to a related party for the three months ended June 30, 2026 and 2025, and $34,672 and $8,612 for the six months ended June 30, 2026 and 2025, respectively)

(47,817)

(23,749)

(88,890)

(35,632)

Other income (expense), net

(16,789)

3,572

(24,656)

6,537

Total other income, net

48,367

261,246

9,685

585,645

Loss before provision for (benefit from) income taxes

(1,033,801)

(541,801)

(2,061,968)

(909,335)

Provision for (benefit from) income taxes

1,050

(2,369)

1,227

(3,732)

Net loss

(1,034,851)

(539,432)

(2,063,195)

(905,603)

Accretion of redeemable convertible preferred stock (related party)

(224,425)

(199,823)

(330,387)

(564,748)

Net loss attributable to common stockholders, basic

(1,259,276)

(739,255)

(2,393,582)

(1,470,351)

Interest expense on 2026 Notes

—

309

—

4,283

Gain on extinguishment of debt

—

(116,360)

—

(116,360)

Net loss attributable to common stockholders, diluted

$    (1,259,276)

$      (855,306)

$    (2,393,582)

$    (1,582,428)

Weighted-average shares outstanding attributable to common stockholders(1)

Basic

382,098,609

305,640,483

$  355,340,787

$  304,641,184

Diluted

382,098,609

305,788,272

$  355,340,787

$  305,670,808

Net loss per share attributable to common stockholders(1)

Basic

$          (3.30)

$          (2.42)

$          (6.74)

$          (4.83)

Diluted

$          (3.30)

$          (2.80)

$          (6.74)

$          (5.18)

Other comprehensive income (loss)

Net unrealized gains (losses) on investments, net of tax

$          (152)

$           293

$        (1,537)

$         3,845

Reclassification adjustment for realized gains on investments included in net loss

—

—

(5,702)

—

Foreign currency translation adjustments

(2,746)

8,973

(3,838)

12,870

Total other comprehensive income (loss)

(2,898)

9,266

(11,077)

16,715

Comprehensive loss

(1,037,749)

(530,166)

(2,074,272)

(888,888)

Accretion of redeemable convertible preferred stock (related party)

(224,425)

(199,823)

(330,387)

(564,748)

Comprehensive loss attributable to common stockholders

$    (1,262,174)

$      (729,989)

$    (2,404,659)

$    (1,453,636)

(1) The weighted-average shares outstanding attributable to common stockholders and net loss per share attributable to common stockholders have been adjusted for the prior periods presented to reflect the one-for-ten (1:10) reverse stock split effected on August 29, 2025.

LUCID GROUP, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

(in thousands)

Three Months Ended
June 30,

Six Months Ended
June 30,

2026

2025

2026

2025

Cash flows from operating activities:

Net loss

$  (1,034,851)

$     (539,432)

$  (2,063,195)

$     (905,603)

Adjustments to reconcile net loss to net cash used in operating activities:

Depreciation and amortization

122,222

111,088

238,634

209,047

Amortization of insurance premium

9,991

8,571

19,287

17,485

Non-cash operating lease cost

18,035

11,207

33,197

19,758

Stock-based compensation

46,609

56,319

107,639

83,834

Inventory and firm purchase commitments write-downs

299,271

179,888

527,588

327,806

Change in fair value of common stock warrant liability

—

(5,322)

—

(18,183)

Change in fair value of equity securities of a related party

(549)

(3,948)

9,672

9,505

Change in fair value of derivative liabilities and subscription agreements associated with redeemable convertible preferred stock (related party)

(102,790)

(111,475)

(110,165)

(393,175)

Net accretion of investment discounts/premiums

(149)

(5,582)

(1,090)

(19,062)

Gain on extinguishment of debt

—

(116,360)

—

(116,360)

Other non-cash items

4,945

6,582

2,140

9,300

Changes in operating assets and liabilities:

Accounts receivable (including $(91,303) and $(9,715) from a related party for the three months ended June 30, 2026 and 2025, and $(66,041) and $(5,599) for the six months ended June 30, 2026 and 2025, respectively)

(93,104)

(35,041)

(48,269)

(13,260)

Inventory

(269,157)

(379,573)

(845,554)

(586,043)

Prepaid expenses

(18,573)

(20,254)

(30,672)

(27,677)

Other assets

45,155

(55,212)

(82,290)

(55,824)

Accounts payable

(127,253)

58,890

(138,365)

58,513

Other liabilities

(122,033)

9,413

(26,447)

141,085

Net cash used in operating activities

(1,222,231)

(830,241)

(2,407,890)

(1,258,854)

Cash flows from investing activities:

Purchases of property, plant and equipment (including $(70,221) and $(25,675) from a related party for the three months ended June 30, 2026 and 2025, and $(117,355) and $(67,668) for the six months ended June 30, 2026 and 2025, respectively)

(253,827)

(182,663)

(506,994)

(343,904)

Proceeds from maturities of investments (including nil from a related party for the three months ended June 30, 2026 and 2025, and $50,000 and nil for the six months ended June 30, 2026 and 2025, respectively)

—

899,194

177,228

1,961,485

Proceeds from sale of investments

—

—

951,125

—

Purchases of investments (including nil from a related party for the three months ended June 30, 2026 and 2025, and nil and $(30,000) for the six months ended June 30, 2026 and 2025, respectively)

(28,512)

(22,528)

(28,512)

(309,557)

Net cash provided by (used in) investing activities

(282,339)

694,003

592,847

1,308,024

LUCID GROUP, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - continued

(Unaudited)

(in thousands)

Three Months Ended
June 30,

Six Months Ended
June 30,

2026

2025

2026

2025

Cash flows from financing activities:

Proceeds from issuance of common stock under 2026 Underwriting Agreement

292,500

—

292,500

—

Payments of issuance costs for the 2026 Underwriting Agreement

(579)

—

(579)

—

Proceeds from issuance of common stock under 2026 Subscription Agreement to a related party

200,000

—

200,000

—

Proceeds from issuance of Series C redeemable convertible preferred stock to a related party

550,000

—

550,000

—

Payments of issuance costs for Series C redeemable convertible preferred stock

(750)

—

(750)

—

Payments of transaction costs for the issuance of 2031 Notes

—

—

(1,165)

—

Proceeds from issuance of 2030 Notes

—

1,100,000

—

1,100,000

Payments of transaction costs for the issuance of 2030 Notes

—

(17,924)

—

(17,924)

Purchase of capped calls

—

(118,250)

—

(118,250)

Repurchase of 2026 Notes

—

(931,433)

—

(931,433)

Proceeds from borrowings from related parties

500,000

39,989

535,994

106,645

Proceeds from exercise of stock options

17

861

2,785

1,274

Proceeds from employee stock purchase plan

9,833

12,696

9,833

12,696

Tax withholding payments for net settlement of employee awards

(206)

(6,172)

(1,311)

(9,449)

Payment for finance lease liabilities

(1,249)

(822)

(2,461)

(1,376)

Payments for credit facility issuance costs to related parties

(3,750)

—

(3,750)

(507)

Net cash provided by financing activities

1,545,816

78,945

1,581,096

141,676

Net increase (decrease) in cash, cash equivalents, and restricted cash

41,246

(57,293)

(233,947)

190,846

Beginning cash, cash equivalents, and restricted cash

765,720

1,855,191

1,040,913

1,607,052

Ending cash, cash equivalents, and restricted cash

$      806,966

$    1,797,898

$      806,966

$    1,797,898

LUCID GROUP, INC.

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

(Unaudited)

(in thousands, except share and per share data)

Adjusted EBITDA

Three Months Ended
June 30,

Six Months Ended
June 30,

2026

2025

2026

2025

Net loss attributable to common stockholders, basic (GAAP)

$    (1,259,276)

$      (739,255)

$    (2,393,582)

$    (1,470,351)

Interest expense

47,817

23,749

88,890

35,632

Interest income

(9,634)

(44,318)

(22,738)

(96,527)

Provision for (benefit from) income taxes

1,050

(2,369)

1,227

(3,732)

Depreciation and amortization

122,222

111,088

238,634

209,047

Stock-based compensation

41,948

56,319

104,337

83,834

Workforce reduction charges

33,675

—

71,609

—

Change in fair value of common stock warrant liability

—

(5,322)

—

(18,183)

Change in fair value of equity securities of a related party

(549)

(3,948)

9,672

9,505

Change in fair value of derivative liabilities and subscription agreements associated with redeemable convertible preferred stock (related party)

(102,790)

(111,475)

(110,165)

(393,175)

Accretion of redeemable convertible preferred stock (related party)

224,425

199,823

330,387

564,748

Gain on extinguishment of debt

—

(116,360)

—

(116,360)

Adjusted EBITDA (non-GAAP)

$      (901,112)

$      (632,068)

$    (1,681,729)

$    (1,195,562)

Adjusted Net Loss Attributable to Common Stockholders

Three Months Ended
June 30,

Six Months Ended
June 30,

2026

2025

2026

2025

Net loss attributable to common stockholders, diluted (GAAP)

$    (1,259,276)

$      (855,306)

$    (2,393,582)

$    (1,582,428)

Stock-based compensation

41,948

56,319

104,337

83,834

Workforce reduction charges

33,675

—

71,609

—

Change in fair value of common stock warrant liability

—

(5,322)

—

(18,183)

Change in fair value of equity securities of a related party

(549)

(3,948)

9,672

9,505

Change in fair value of derivative liabilities and subscription agreements associated with redeemable convertible preferred stock (related party)

(102,790)

(111,475)

(110,165)

(393,175)

Accretion of redeemable convertible preferred stock (related party)

224,425

199,823

330,387

564,748

Adjusted net loss attributable to common stockholders, diluted (non-GAAP)

$    (1,062,567)

$      (719,909)

$    (1,987,742)

$    (1,335,699)

Adjusted Net Loss Per Share Attributable to Common Stockholders(1)

Three Months Ended
June 30,

Six Months Ended
June 30,

2026

2025

2026

2025

Net loss per share attributable to common stockholders, diluted (GAAP)

$         (3.30)

$         (2.80)

$         (6.74)

$         (5.18)

Stock-based compensation

0.11

0.19

0.30

0.28

Workforce reduction charges

0.09

—

0.20

—

Change in fair value of common stock warrant liability

—

(0.02)

—

(0.06)

Change in fair value of equity securities of a related party

—

(0.01)

0.03

0.03

Change in fair value of derivative liabilities and subscription agreements associated with redeemable convertible preferred stock (related party)

(0.27)

(0.36)

(0.31)

(1.29)

Accretion of redeemable convertible preferred stock (related party)

0.59

0.65

0.93

1.85

Adjusted net loss per share attributable to common stockholders, diluted (non-GAAP)

$         (2.78)

$         (2.35)

$         (5.59)

$         (4.37)

Weighted-average shares outstanding attributable to common stockholders, diluted

382,098,609

305,788,272

355,340,787

305,670,808

(1) The weighted-average shares outstanding attributable to common stockholders, net loss per share attributable to common stockholders and adjusted net loss per share attributable to common stockholders have been adjusted for the prior periods presented to reflect the one-for-ten (1:10) reverse stock split effected on August 29, 2025.

LUCID GROUP, INC.

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES - continued

(Unaudited)

(in thousands)

Free Cash Flow

Three Months Ended
June 30,

Six Months Ended
June 30,

2026

2025

2026

2025

Net cash used in operating activities (GAAP)

$    (1,222,231)

$      (830,241)

$    (2,407,890)

$    (1,258,854)

Capital expenditures

(253,827)

(182,663)

(506,994)

(343,904)

Free cash flow (non-GAAP)

$    (1,476,058)

$    (1,012,904)

$    (2,914,884)

$    (1,602,758)

SOURCE Lucid Group

Item 1 of 2 A Lucid Air Grand Touring electric car is displayed during the New York International Auto Show in New York City, U.S., April 1, 2026. REUTERS/Jeenah Moon/File Photo

[1/2]A Lucid Air Grand Touring electric car is displayed during the New York International Auto Show in New York City, U.S., April 1, 2026. REUTERS/Jeenah Moon/File Photo Purchase Licensing Rights, opens new tab

CompaniesSAN FRANCISCO, Aug 4 (Reuters) - Lucid (LCID.O), opens new tab plans to launch its more affordable EVs in the second half of 2027, delaying the planned rollout from late this year, its CEO said on Tuesday, as the company carries out ​a major business review and cuts costs.

The EV maker's shares fell as much as 11% after the bell.

Stay up to date with the latest news, trends and innovations that are driving the global automotive industry with the Reuters Auto File newsletter. Sign up here.

As part of ‌the review, Lucid also said it was aiming to save $1.4 billion in cash this year, primarily by cutting production and inventory after posting mounting losses for the second quarter.

U.S. electric vehicle manufacturers have been grappling with lower demand since the removal of key tax credits late last year, pushing companies to pause or ​cut production and cancel new EV plans, and instead focus on delivering more affordable models.

Lucid too is counting on a smaller ​and cheaper mid-size vehicle platform it is developing to fuel future growth, while pursuing a robotaxi rollout ⁠through partnerships with Uber (UBER.N), opens new tab and self-driving startup Nuro, but until those efforts start raking in revenue, the company is prioritizing tighter cost controls.

CEO ​Silvio Napoli told Reuters the company's luxury Air sedans and Gravity SUVs were launched "a bit in haste" and that he did not want to "repeat ​the mistakes of the past."

"My objective is that we launch mid-size when it is ready to be on quality," Napoli said in an interview. "Precipitating the launch before everything is aligned would just be, I think at this stage, really a terrible mistake."

Lucid's factory in Saudi Arabia, where it will start production of the ​mid-size platform, will be ready by the end of this year, Napoli said. But getting the supply chain in order will take longer, ​he added.

The company has been navigating supplier-related issues that have disrupted production, especially since the launch of its Gravity SUV.

CASH SAVINGSLucid's projected savings of $1.4 billion include an ‌estimated $600 million ⁠to $800 million cut in inventory. The company said it "deliberately reduced production to better align output with anticipated demand."

It also plans to cut capital expenditure by about $500 million and operating expenses by $200 million, with recent job cuts expected to save about $158 million annually.

The plan comes weeks after it denied as "completely false" a report about a potential take-private deal or a Chapter 11 bankruptcy filing.

Backed by Saudi Arabia's Public Investment Fund (PIF), Lucid said ​last month it would cut about 18% ​of its U.S. workforce and ⁠appointed former Schindler chief Napoli as CEO, after suspending its 2026 production outlook.

Napoli did not provide fresh guidance for 2026, but said he expected production to drop through the rest of the year, while deliveries ​improve from the first half. Lucid has produced 10,274 vehicles and delivered 7,046 of them this ​year till the end ⁠of June.

Last week, a regulatory filing showed Saudi billionaire Prince Alwaleed bin Talal Al Saud had taken a 5% stake in the company.

"Recently secured financing, in conjunction with operational actions the company is taking, is expected to provide sufficient liquidity runway well into 2027," Lucid said on Tuesday.

For the quarter ⁠ended June, ​the company reported a 56% rise in revenue to $405 million, below analysts' average ​estimate of $416 million, according to data compiled by LSEG.

The company posted an adjusted loss of $2.78 per share, up from a loss of $2.35 per share a year earlier, and higher ​than the $2.42 per-share loss analysts were expecting.

Reporting by Abhirup Roy in San Francisco; Additional reporting by Akash Sriram in Bengaluru; Editing by Diti Pujara

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Abhirup Roy is a U.S. autos correspondent based in San Francisco, covering Tesla and the wider electric and autonomous vehicle industry. He previously reported from India on global corporations, capital markets regulation, white-collar crime, and corporate litigation. Contact him at (415) 941-8665 or connect securely via Signal on abhiruproy.10

The EV maker posted a wider loss in its second quarter on charges related to job cuts, as the company continues to struggle with competition and a wider downturn for electric vehicle demand.

Lucid Group Inc. (NASDAQ:LCID) is set to report its earnings following market close on Tuesday. However, falling sales figures, combined with the volatility of the stock, could pose challenges for the EV maker.

According to data from market research firm Motor Intelligence cited by an Electric Vehicles report on Monday, Lucid sold an estimated 860 units in the U.S. during July. The figure represents a 3.4% YoY decline from July 2025 and a 5.7% decline from June 2026, the report said.

Notably, Lucid reported zero sales in four months in the Norwegian market, the report said. Norway remains one of the most popular markets for Battery Electric vehicles, with Norwegian Road Traffic Information Council data showing that EVs accounted for over 97% of Norway’s total new car registrations in July.

Lucid’s lackluster U.S. sales come despite the company offering incentives like 0% financing for 72 months on 2026 Lucid Gravity units, as well as incentives worth up to $16,000 through various schemes on the stock, the report said. The Lucid Air sedan also had its own incentives worth up to $10,000, the report added.

Motor Intelligence data only covers U.S. sales, but Lucid also operates in markets like Saudi Arabia and Canada, among others.

Lucid’s Bankruptcy Rumors, Stock MovementThe news comes as Lucid CEO Silvio Napoli had dismissed reports that the automaker was going to file for bankruptcy. Slamming the reports, Napoli said that the EV maker was “not considering bankruptcy or a transaction to take the company private."

Lucid’s Chief Communications Officer Nick Twork had earlier denied rumors of bankruptcy, saying that the automaker had delivered a cease-and-desist letter to the outlet behind the report.

The automaker, during the second quarter of 2026, produced 4,774 vehicles and delivered 3,953 units, amid a series of changes in its leadership.

Price Action: LCID, since the beginning of the year, has declined over 30%. Lucid shares were trading for around $11/share on January second, but have since fallen to $7.70/share at market close on Monday.

According to Benzinga Edge Rankings, Lucid offers poor Momentum, but provides a favorable price trend in the Short and Medium term.

Check out more of Benzinga’s Future Of Mobility coverage by following this link.

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