Lucid Exceeds 2024 EV Production and Delivery Targets with Record Growth

The luxury EV maker reported a 71% increase in annual deliveries and launched its first Gravity SUV, positioning itself for further market competition.

Lucid delivered 10,241 vehicles in 2024, marking a 71% increase compared to 2023, and produced 9,029 vehicles, surpassing its annual target.
The company achieved record fourth-quarter deliveries of 3,099 vehicles, an 11% increase over Q3 and 78% higher than Q4 2023.
Production for Q4 2024 rose 42% year-over-year to 3,386 vehicles, though slightly below the Q4 2022 peak of 3,493 units.
Lucid launched its Gravity SUV in December, with customer deliveries expected to begin in 2025 in the U.S. and in 2026 in Europe.
Despite its growth, Lucid continues to face financial challenges, losing significant amounts per vehicle, but secured $1.75 billion in funding to extend its cash runway into 2026.