Lucid (LCID) announces ‘step-change’ in Q4 as it aims to build 25,000 to 27,000 EVs in 2026

Despite missing earnings estimates in Q4 2025, Lucid Group (LCID) is calling for more growth in 2026. Lucid aims to produce 25,000 to 27,000 EVs in 2026, a 40% to 50% increase from last year.

Lucid Q4 and full-year 2025 earnings breakdown

Lucid announced last month that it had produced 18,378 vehicles in 2025, of which 8,412 were built in the fourth quarter.

After releasing financial results on Tuesday, Lucid revised its production totals to 17,840 for the full year 2025 and 7,874 in Q4. The company said that 538 vehicles had not completed certain procedures and still needed to undergo final validation.

Even with the revised numbers, Lucid managed to produce nearly twice as many vehicles as it did in 2024, when it built roughly 9,000.

Lucid is projecting more growth this year with 2026 production guidance of 25,000 to 27,000 vehicles, which is about 40% to 50% more than it did in 2025.

“Q4 marked a clear step‑change in production and unit economics. The progress we made is structural, creating a more repeatable and stable operating cadence heading into 2026,” Lucid’s CFO, Taoufiq Boussaid, said.

Lucid reported Q4 revenue of $522.7 million, beating Wall St estimates, but missed bottom-line estimates with a $3.62 loss per share.

For the full year 2025, Lucid generated $1.35 billion in revenue, up 68% YOY. Lucid ended the quarter with about $4.6 billion in liquidity, which it said is enough to fund it into the first half of 2027.

The report comes days after Lucid announced plans to cut 12% of its US workforce. A Lucid spokesperson confirmed the plans with Electrek, saying the job cuts are “designed to streamline our organization so we can operate with greater efficiency and deliver on our commitments to gross margin improvement and long-term growth.”

Lucid’s spokesperson said the company remains focused on the “start of production of our Midsize platform,” set to begin later this year.

The first vehicle based on the platform will be a midsize SUV, starting at around $50,000. Boussaid said during a fireside chat at the UBS Global Industrials and Transportation Conference in December that Lucid’s new midsize EVs will be positioned in “the heart of the market,” with prices starting at about $50,000.

Check back for more details from Lucid’s Q4 2025 earnings call. We’ll post updates below.