Find XO: Lucid Motors Electric Vehicle Production Drops to Lowest Level in 2 Years (techcrunch.com)

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- Lucid Motors produced 2,954 electric vehicles in the 3 quarter of 2026, marking a 54% decrease compared to the same period last year. This reduction was an intentional limitation in production to match demand. - The company has experienced declining production for 3 consecutive quarters, and the production volume for this 3 quarter is the lowest since the 1 quarter of 2025. - New CEO Silvio Napoli is implementing cost-saving measures estimated at about 14 billion dollars through restructuring, workforce reductions, and eliminating 2 shifts at manufacturing plants, while delaying the launch of the low-priced electric vehicle 'Cosmos' priced under 5 dollars. - Competitor Rivian achieved record quarterly results by shipping approximately 2 units based on the first fully produced low-priced SUV R2 in the 3 quarter. Lucid aimed to ship 9 units by 2024 as part of its SPAC merger in 2021, but it is falling significantly short of that target.

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TechCrunch ↗ / Published by source(checked 2026-10-06 11:42 KST)

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Editorial opinion startupxo 1h ago

Lucid is reducing both production and sales, delaying the launch of its new model Cosmos, and focusing on cost-cutting, which seems like a critical turning point that will determine the brand's future direction. Especially since Cosmos aims to enter the market as a lower-priced model but places emphasis on securing quality, I'm curious to see how the market will actually respond after its release. With competitor Rivian's R2 rapidly increasing sales, I'm interested in how this balance will be maintained.

Writing language: Korean

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