Lucid Motors's Q3 production falls 54% to 2,954 vehicles
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Lucid Motors just dropped its EV production to 2,954 cars for Q3 2026, a huge 54% decrease from last year and the lowest since early 2025.
The company says it's trying to match output with demand, but getting people excited about their luxury EVs is still a challenge.
Lucid cuts staff to save $1.4B
Despite producing fewer cars, Lucid delivered the same number of vehicles as last quarter, 3,806 units, which is still down from last year.
To save $1.4 billion, Lucid is making big changes like laying off staff and cutting a second shift. It also delayed the release of its more affordable Cosmos model.
Meanwhile, rival Rivian shipped nearly 20,000 vehicles in the same period.