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  • Lucid Q1 2025 Report: $235M revenue (+36% YoY), reduced net loss, on track to 20k vehicles

Lucid Q1 2025 Report: $235M revenue (+36% YoY), reduced net loss, on track to 20k vehicles

and enough liquidity into second half of 2026

Author

Jaan Juurikas
May 09, 2025 • Reading Time: 4 minutes

EVWire resources: Here is the full Q1 2025 Shareholder Letter (39-page pdf)

And a few noteworthy info pieces I gathered:

  • Maintaining its production target of around 20,000 vehicles for 2025, “, and will continue to prudently manage and adjust production to meet sales and delivery needs.” For comparison, Lucid produced 9,029 and delivered 12,241 vehicles in 2024.

  • Cash and equivalents: $5.76B, says it has “sufficient liquidity into the second half of 2026.”

  • 2025 CapEx ~$1.4B;

  • Still expects Lucid Gravity Touring to become available to order late 2025 and
    Midsize platform start of production scheduled for late 2026.

Here are the key financial results per Lucid:

Interestingly, Lucid also notes in its release that “A thorough analysis of tariffs, supply chain, and related macroeconomic uncertainties is ongoing.”

Some broader remarks from execs:

We continued to build momentum in the first quarter as we achieved yet another delivery record, further strengthened our market position, and executed against operational priorities. Lucid Gravity is beginning to arrive in more customers’ driveways and at our studios, and combined with our progress toward future initiatives, our company is well positioned for future success.”

— Marc Winterhoff, Interim CEO of Lucid

“We’re executing against our near-term goals — driving volume, improving margins, and operating with rigor. And we’re positioning ourselves for long-term value creation — with clear strategic priorities, strong liquidity, and breakthrough products that redefine their categories.”

— Taoufiq Boussaid, Lucid CFO

Lucid also put up two images showcasing their efficiency in “Lowest battery Pack Cost per Mile of Vehicle Range”:

As of the end of Q1, Lucid has 76 mobile service vans in its global fleet, 132 approved body shops globally for service, and 57 Studios and Service Centers: 42 in North America, 11 in Europe and 4 in Middle East.

Just this week, Lucid also announced some new leadership changes, welcoming:

  • Akerho "AK" Oghoghomeh as Senior Vice President of Marketing,

  • Jason Ryska as Vice President of Global Manufacturing Engineering,

  • Dr. Kay Stepper as Vice President of Advanced Driver-Assistance Systems (ADAS) and Autonomous Driving (AD),

  • Adrian Price as Senior Vice President of Operations,

  • Erwin Raphael, Vice President of Revenue,

  • Gemma Parker, Vice President of Program Management.

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