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Lucid Group Suspends 2026 Production Forecast After Supplier Seat Issue Disrupts Gravity SUV

GateNews

2026-05-06 03:31:30

According to Reuters, Lucid Group suspended its 2026 production forecast on May 5 after a supplier issue disrupted deliveries of its Gravity SUV. The Newark, California-based electric vehicle maker reported first-quarter revenue of US$282.5 million, falling short of analyst expectations of US$440.4 million, and produced 5,500 vehicles with 3,093 deliveries. Shares fell more than 8% in extended trading.

Lucid said it will update guidance at its second-quarter earnings call after new CEO Silvio Napoli reviews the business. The company had previously forecast annual production of 25,000 to 27,000 vehicles.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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