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Lucid Motors delivered a record 4,078 vehicles in the third quarter, likely buoyed by a combination of more Gravity SUVs hitting the road and a rush of customers taking advantage of the expiring federal EV tax credit.<\/p>\n
The Saudi-owned luxury EV startup is still way off the projections it used<\/a> to go public in 2021 \u2014 a transaction that netted it $4 billion. But Lucid Motors has seen deliveries steadily climb over the last two years. The third-quarter delivery figures announced Monday<\/a> mark the seventh consecutive quarter that Lucid Motors has seen sales increase.<\/p>\n Lucid Motors was not alone in seeing a big third-quarter bump in EV sales. Tesla recorded its best quarter in company history<\/a>, and legacy automakers like Ford and General Motors saw big increases as well. Even Rivian, which is forecasting a worse overall year for total EV deliveries than 2024 or 2023, saw a boost in the third quarter.<\/p>\n Like Rivian, only customers who leased Lucid Motors vehicles were eligible for the federal EV tax credit, meaning the impact of its expiration is hard to quantify. It\u2019s also unclear how many Gravity SUVs were delivered compared to the company\u2019s first model, the Air sedan. Lucid Motors will reveal full financial results for the quarter on November 5.<\/p>\n Lucid Motors has struggled to generate interest for its luxury EVs since going public in 2021, with former CEO Peter Rawlinson openly admitting the company needed to beef up its marketing operations. Earlier this year, the company announced it signed actor Timoth\u00e9e Chalamet<\/a> to be its first \u201cglobal ambassador.\u201d The company has also benefited from rental sales and company leases in some quarters<\/a>, as TechCrunch previously reported.<\/p>\n The company is also increasingly looking to Saudi Arabia \u2014 which owns around 60% of the publicly traded company through its sovereign wealth fund \u2014 as a market for its vehicles. On Monday, Lucid Motors said it built more than 1,000 vehicles specifically for the Saudi market. (The company currently operates an assembly facility in the Kingdom and plans to open a full-fledged factory there.)<\/p>\n Lucid has also locked in future demand from an unlikely customer: Uber. <\/p>\n Techcrunch event<\/p>\n \n\t\t\t\t\t\t\t\t\tSan Francisco<\/span>
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\n\t\t\t\t\t\t\t\t\t\t\t\t\tOctober 27-29, 2025<\/span>\n\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n