Lucid Sales Are Way Up, But The Automaker Still Lost $1 Billion
Lucid Motors reported a 149% increase in vehicle production and a 20% rise in revenue to $285.5 million in Q1 2026, but still incurred a net loss of $1.13 billion. The company is optimistic about its future, citing a new CEO, expanded partnerships, and a new midsize model expected to start production later this year.
Lucid Motors produced 5,500 vehicles and delivered 3,093 in Q1 2026, a 149% increase from the previous year. Revenue rose 20% to $285.5 million, but the company's net loss grew to $1.13 billion. A seat supplier issue affected February deliveries, but the problem was resolved in March. Lucid raised $1.05 billion in capital and expanded its partnership with Uber, which plans to purchase at least 35,000 vehicles. The company has a new CEO, Silvio Napoli, and expects to start production of a new midsize model later this year, with prices starting below $50,000. Lucid also opened its first dealership in Europe, in Germany, and has received 12 more letters of interest for new dealers in the region.
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