Luxury electric vehicle startup Lucid produced and delivered a record number of electric vehicles in the fourth quarter and full year of 2024.
Lucid produced 3,386 vehicles and delivered 3,099 in Q4. On a full-year basis, the company produced 9,029 vehicles and delivered 10,241 vehicles in 2024, meeting its previously announced target to produce roughly 9,000 vehicles last year.
Those production numbers are up about 7% from 2023, when Lucid produced 8,428 units. Deliveries are up 70% from 6,001 in 2023.
Along with Lucid’s production and delivery numbers, the company shared details for its fourth quarter and full year earnings call, which is scheduled for February 25.
The small boost in deliveries this year comes as incumbents like Tesla saw a drop in sales amid increased competition and a weaker-than-expected demand for EVs. That said, EV sales are still on the rise, just not at the rate that many automakers had hoped for.
To date, Lucid has mainly delivered its Air lineup, a series of luxurious and expensive sedans that start at $69,900 and go all the way up to $250,500. In December, Lucid rolled its first Gravity SUV off the production line, with plans to ramp up production, and began initial deliveries last week.
Much hinges on the success of the Gravity; the Air was off to a slower start than expected, and Lucid needs a win to help it win over more buyers.
Correction: A previous version of this article had the wrong date for Lucid’s next earnings call.
Financial Market Newsflash
No financial news published today. Check back later.
