Lucid Motors' EV output falls to lowest level in almost two years

Lucid Motors built 2,954 EVs in the third quarter, down 54% year over year and the lowest quarterly output since Q1 2025. Deliveries reached 3,806 vehicles. The company cut about 1,500 jobs and delayed its cheaper Cosmos model, which is set to start under $50,000.

• Production fell 54% year over year, the third straight quarterly decline
• Deliveries hit 3,806 vehicles, roughly flat versus Q2
• About 1,500 employees laid off as part of a $1.4 billion cost-cutting push
• Launch of the sub-$50,000 Cosmos EV delayed