Overview
- Interim CEO Marc Winterhoff said the company has logged weeks producing about 1,000 vehicles as it pushes toward year-end goals.
- He declined to confirm whether Lucid will reach its 18,000-unit 2025 production target, saying results will be disclosed in early January.
- Executives cited tariffs, a shortage of magnets from China, and a fire at a major aluminum supplier as disruptions that required changes to build plans.
- Lucid expects a record fourth quarter with the Gravity SUV accounting for the majority of production and sales after multiple guidance cuts this year.
- Liquidity includes an undrawn PIF delayed-draw term loan raised to about $2 billion, as Morgan Stanley downgraded the stock and projected gross profitability only by 2028 with dilution risk.