Lucid Group, majority-owned by Saudi Arabia’s Public Investment Fund, reported 2025 deliveries of 15,841 vehicles, marking a 55 percent increase year-on-year.
Fourth-quarter deliveries rose 72 percent to 5,345 units, the company’s eighth consecutive quarterly record. Full-year production stood at 17,840 vehicles, broadly in line with prior guidance of around 18,000 units. A preliminary figure of 18,378 units was revised after 538 vehicles did not complete final internal validation procedures. The company said the revision does not affect financial results.
Revenue in the fourth quarter climbed 123 percent to $522.7 million, while full-year revenue rose 68 percent to $1.35 billion. Lucid ended the year with liquidity of approximately $4.6 billion.
Interim CEO Marc Winterhoff said 2025 focused on execution and operational improvements despite macroeconomic challenges. Chief Financial Officer Taoufiq Bous said added that production and unit economics improved structurally during the year.
The company expects to produce between 25,000 and 27,000 vehicles in 2026, implying potential growth of up to 51 percent.
Lucid also signaled a strategic push into autonomous driving technology, with ambitions to enter the robotaxi market. The company said it is making targeted adjustments to its US-based non-manufacturing workforce to reallocate resources toward growth and margin expansion.
In September 2023, Lucid opened its first international manufacturing facility at King Abdullah Economic City. The plant currently has an annual capacity of 5,000 vehicles in its first phase and is expected to scale to 155,000 units at full capacity.
In January 2025, Lucid became the first global automaker to join Saudi Arabia’s “Made in Saudi” program.
The expansion aligns with the Kingdom’s Vision 2030 strategy, which targets net-zero emissions by 2060 and aims for electric vehicles to account for 30 percent of cars in Riyadh by 2030.
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