- The EV maker shifted 538 vehicles into 2026 due to internal “factory-gated” validation standards.
- The workforce reduction is expected to generate nearly $500 million in savings over three years.
- Lucid reaffirmed a confident 2026 outlook, guiding to 25,000-27,000 vehicles in production, supported by the Gravity SUV ramp.
Lucid Group Inc. (LCID) confirmed a 12% reduction in its U.S. workforce after revising its 2025 production figures, shifting 538 vehicles into 2026 following a reclassification tied to internal validation standards.
LCID shares fell about 5% in extended trading on Tuesday after the EV maker reported a wider-than-expected fourth-quarter (Q4) loss, even as revenue topped estimates. In the regular session, the stock snapped five sessions of losses and jumped over 5% to hit $9.92.
Workforce Cut Targets $500 Million In Savings
Lucid said it slashed 12% reduction of its U.S.-based workforce, excluding hourly production employees in manufacturing, logistics and quality.
CFO Taoufiq Boussaid on the conference call that the move is expected to generate nearly $500 million in cost savings over the next three years, with benefits weighted toward the near and medium term to support gross margin breakeven.
“This difficult but necessary decision was made to improve operational effectiveness and optimize our resources as we continue on our path towards profitability,” Interim CEO Marc Winterhoff said on the call.
Lucid Revises 2025 Production
Alongside the workforce reduction, Lucid revised its full-year 2025 production to 17,840 vehicles, down from the 18,378 units it had preliminarily announced last month. Q4 production was reduced to 7,874 vehicles from 8,412.
Winterhoff said that 538 vehicles counted in late December were built in Arizona, shipped to Saudi Arabia as kits and reassembled, but had not completed the company’s required “factory-gated” procedures before the end of the year. Under Lucid’s internal standards, only factory-gated vehicles are classified as produced.
“To be clear, this has no impact on any customer deliveries. We are taking a number of additional steps to ensure the accuracy of our production numbers going forward,” Winterhoff said on the call.
The revision brought full-year output just below the roughly 18,000-unit guidance Lucid had set after cutting its target twice during a turbulent year marked by supply chain disruptions, including magnet shortages, an aluminum supplier fire and chip constraints that slowed the Gravity SUV ramp.
Record Deliveries Offset Production Revision
Despite the production revision, Lucid reported 15,841 vehicle deliveries in 2025, up 55% year over year, marking its eighth consecutive quarter of record deliveries. Q4 deliveries rose 72% from the previous year to 5,345 vehicles.
Full-year revenue hit $1.35 billion, up 68% from 2024, while Q4 revenue surged 123% from the prior year to $522.7 million, beating analyst estimates. However, Lucid posted a Q4 GAAP loss per share of $3.62, wider than expectations, and a full-year net loss of $2.7 billion, or $12.09 per share.
“In Q4, we did not experience the same degree of supply chain disruptions as we did earlier in the year,” Boussaid said, noting an underlying run rate supporting up to 7,500 vehicles per quarter. Manufacturing cost per vehicle declined by about 27% in 2025, with the company expecting additional efficiency gains this year from continued yield improvements, production stabilization, higher labor productivity and logistics optimization off the first quarter 2025 baseline.
Lucid ended the quarter with $4.6 billion in liquidity, including $2.1 billion in cash, with a runway extending into the first half of 2027 under its current operating plan.
Lucid Signals Confident 2026 Production Outlook
For 2026, Lucid guided to 25,000-27,000 vehicles in production, implying 40% to 51% growth from the revised 2025 base. “The ramp-up of Gravity gives us ample opportunity to further grow production and deliveries in 2026. Our midsized vehicles will enable us to compete in a much larger TAM [total addressable market] than the air and the gravity, and we made clear that we intend to play a major role in the developing robo-taxi market,” Winterhoff said.
Lucid also reaffirmed plans to deploy robotaxis commercially in partnership with Uber Technologies, which agreed to deploy at least 20,000 Lucid vehicles over six years equipped with Nuro’s Level 4 autonomy system. Commercial deployment in the San Francisco Bay Area remains on track for 2026.
“We will not chase volume at the expense of margin as Gravity mix builds particularly higher price streams and as conversion improves with expanded configurations, we expect mix and pricing to remain positive factors,” Winterhoff added.
How Did Stocktwits Users React?
On Stocktwits, retail sentiment for Lucid shifted to the ‘neutral’ zone from the ‘bullish’ territory since its earnings were released amid a nearly 400% spike in message volumes over the past week.
One user speculated, saying, “did they say they have enough cash till 2027 Q1… so dilution off plate till summer?”
Another user said, “2026 production of 23K - 27K! You all we know they will revise this fake number one more time this year!”
LCID stock has declined 6% year to date.
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