Lucid Group, Inc.
lucidmotors.comWhat Do They Do?
Designs, manufactures and sells electric sedans and SUVs to consumers, and supplies powertrain, battery and software technology to automakers.
10-K for FY2025, filed Feb 24, 2026Lucid designed, developed, manufactures and sells two groundbreaking EVs: The Lucid Air sedan, for which customer deliveries began in late…View ↗
Lucid (i) designs, engineers and manufactures EVs, EV powertrains, and battery systems in-house, using our equipment and factories, (ii)…View ↗
In June 2023, we entered into an agreement (the “Implementation Agreement”) with Aston Martin Lagonda Global Holdings plc (together with…View ↗
How Do They Make Money?
Consumers typically pay at delivery or shortly afterward for EVs. Buyers of regulatory credits pay upon invoice or under customary business terms; rental companies acquire vehicles through sale-and-leaseback deals.
10-K for FY2025, filed Feb 24, 2026Payment is typically received at the time of delivery or shortly after delivery of the vehicle to the customer, except for vehicle sales…View ↗
The Company enters into sale and leaseback transactions in which the Company transfers control of vehicles to rental companies and…View ↗
The sale of battery pack systems, powertrain kits along with related supplies, and regulatory credits is a single performance obligation…View ↗
$1.4B
-
10-K for FY2025, filed Feb 24, 2026
$1.4B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Vehicle Sales From EVs
Sold outright
10-K for FY2025, filed Feb 24, 2026 |
87% |
Vehicle Sales From EVs, FY2025
$1.2B Sources
|
Sold outright |
|
Sale and Leaseback Transactions
Sold outright
|
5.2% |
Sale and Leaseback Transactions, FY2025
$70.9M Sources
|
Sold outright |
|
Regulatory Credits
Sold outright
|
7.1% |
Regulatory Credits, FY2025
$96M Sources
|
Sold outright |
Who Are Their Customers?
Consumers buy vehicles directly online or through Lucid’s Studios and retail network; the company plans to add importer, dealer and agent channels in some markets.
10-K for FY2025, filed Feb 24, 2026
Do Revenues Turn Into Profits?
No. It lost $2.7B in FY2025.
10-K for FY2025, filed Feb 24, 2026
−$3.5BView ↗
10-K for FY2025, filed Feb 24, 2026
−$2.7BView ↗
10-K for FY2025, filed Feb 24, 2026
−$3.8BView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 4, 2026
−$1BView ↗
- ▲ +92% (Loss)
- vs −$539.4M in Q2 FY2025
-
Jul 2, 2026
Lucid appoints an incoming chief financial officer
Alexander De Bock was named incoming chief financial officer; Taoufiq Boussaid was to leave after a transition period.
Sources
8-K, filed Jul 2, 2026
On July 1, 2026, the Company’s Board of Directors (the “Board”) appointed Alexander De Bock as its incoming Chief Financial Officer. Mr. De…View ↗
Growing. Revenue grew 49.9x in 4 years, from $27.1M in FY2021 to $1.4B in FY2025, about 166% a year.
A broader vehicle lineup
The earlier report centered on the Lucid Air and described the Gravity as planned; the latest report describes both the Air and Gravity as vehicles it manufactures and sells.
10-K for FY2022, filed Feb 28, 2023 10-K for FY2025, filed Feb 24, 2026
Third-party sales channels
The earlier report described direct sales through Lucid’s own retail network and online channels; the latest report plans to complement those sales with importers, dealers and agents in additional markets.
10-K for FY2022, filed Feb 28, 2023 10-K for FY2025, filed Feb 24, 2026We sell vehicles directly to consumers through our retail sales network and through direct online sales including through Lucid Financial…View ↗
In addition to our direct-to-consumer approach, we plan to commence expansion globally through third-party distribution channels. This…View ↗
Robotaxis enter the strategy
The older report framed technology sales around supplying vehicle technology to manufacturers and adjacent industries; the latest report also ties Lucid’s technology to a robotaxi program with Uber and Nuro.
10-K for FY2022, filed Feb 28, 2023 10-K for FY2025, filed Feb 24, 2026
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