Lucid Motors has withdrawn its vehicle production guidance for 2026 as the company reviews operations under incoming CEO Silvio Napoli and continues a broader cost-reduction effort.
Company Pulls Annual Production Outlook
Lucid had previously projected production of between 25,000 and 27,000 vehicles this year, a planned increase from roughly 18,000 vehicles produced last year. The company announced Tuesday that it is no longer providing that forecast.
Chief financial officer Taoufiq Boussaid said the decision was related to governance as Napoli conducts a review of the business. Lucid expects to provide updated guidance during its next earnings report.
Napoli said the company needs stronger execution, with a focus on simplification, prioritization, and operational speed.
Layoffs And Cost Reduction Measures Continue
The updated outlook follows layoffs announced earlier this year that affected 12% of Lucid’s workforce. The company said the cuts are expected to cost approximately $40 million in the near term but could generate as much as $500 million in savings over the coming years.
Production Issues Hurt First-Quarter Performance
Lucid also reported weaker-than-expected first-quarter results tied to production disruptions and a temporary stop-sale involving its Gravity SUV.
The company said deliveries of the Gravity were halted for 29 days due to issues involving a seat supplier. The disruption contributed to higher inventory levels.
Boussaid said Lucid is intentionally limiting production growth to avoid building inventory ahead of customer demand.
Mid-Size EV Platform Still Targeted For 2027 Ramp-Up
Lucid continues development of a lower-cost mid-size EV platform expected to produce vehicles priced below $50,000. While the company previously indicated production could begin by the end of 2026, it now emphasized plans for a production ramp-up in 2027.
Robotaxi Program Remains On Schedule
Lucid said it remains on track to begin building production-ready autonomous Gravity SUVs in the fourth quarter as part of its robotaxi partnership with Uber and Nuro.
The companies plan to use autonomous versions of the Gravity SUV for a future robotaxi service.
Featured image credits: Wikimedia Commons
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