Lucid Motors Stock Decline
Lucid Motors (NASDAQ: LCID) has seen its stock price plummet from a high of $57.75 per share in November 2021 to below $10 as of now. The electric vehicle maker, which went public via a SPAC, faced severe setbacks in meeting ambitious delivery targets, with only 4,369 vehicles delivered in 2022, 6,001 in 2023, and an expected 10,241 in 2024, largely due to supply chain issues and increased competition.
Despite these challenges, Lucid’s deliveries increased by 55% in 2025, reaching 15,841 vehicles, boosted by the ramp-up of its Gravity SUV production. The company, supported by the Saudi Arabian government’s Public Investment Fund, holds over $4.6 billion in liquidity and has secured a long-term order of 100,000 vehicles from the Saudi government. Analysts project that Lucid’s revenue could rise over fivefold between 2025 and 2028, indicating a potential turning point for the struggling automaker.
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