Lucid CEO Confident Despite Q2 Miss: Tariffs and Tax Credits "Keep Us Up at Night"

Lucid Group (LCID) missed Q2 expectations due to auto tariffs and the end of the $7,500 EV tax credit. CEO Marc Winterhoff admitted these challenges "keep us up at night," but the company is entering a "pivotal new phase." Lucid lowered its production goal for the year from 20,000 to 18,000-20,000, citing a changing market. Despite missing expectations, the EV maker has secured a partnership with Uber and Nuro to develop 20,000 robotaxis over six years.

Lucid Group Inc. (LCID) reported its second-quarter (Q2) 2025 earnings on Tuesday, August 5th, with mixed results. The company announced revenue of $259.4 million, falling short of analyst estimates of $296.24 million. Lucid produced 3,863 vehicles and delivered 3,309 vehicles during the quarter. The company ended Q2 with approximately $4.86 billion in total liquidity. However, Lucid shares were down 6.78% in the after-hours session following the announcement.

The company also revised its 2025 production outlook downward, from a prior guidance of 20,000 vehicles to a range of 18,000 to 20,000 vehicles. This adjustment reflects the company's ongoing efforts to navigate a challenging macroeconomic backdrop and adapt to market conditions [1].

Lucid's Q2 2025 earnings presentation highlighted several key developments. The company launched a next-generation robotaxi partnership with Uber and Nuro, aiming to deploy a minimum of 20,000 Lucid Gravity vehicles equipped with Nuro Driver™ Level 4 autonomy. Additionally, Lucid expanded DreamDrive Pro functionality, introducing Hands-Free Drive Assist and Lane Change Assist. The company also announced access to over 23,500 Tesla Superchargers in North America for all Lucid Air models using a Lucid-approved NACS adapter, significantly increasing driving range. Notably, Lucid appointed award-winning actor Timothée Chalamet as its first global brand ambassador, aiming to bolster brand awareness.

Despite the quarterly setback, Lucid remains committed to its strategic goals, including disciplined cost management, brand building, and executing its Lucid Gravity launch ramp. The company continues to focus on strengthening its balance sheet and maintaining long-term alignment with partners and shareholders.

References:
[1] https://www.ainvest.com/news/lucid-group-q2-earnings-revenue-eps-estimates-ev-maker-lowers-2025-production-target-2508/
[2] https://www.benzinga.com/trading-ideas/previews/25/08/46842002/lucid-q2-earnings-preview-can-record-revenue-strong-guidance-help-stock-momentum
[3] https://www.ainvest.com/news/lucid-cuts-2025-production-target-market-shifts-2508/
[4] https://seekingalpha.com/news/4479441-lucid-targets-18000-20000-vehicle-production-for-2025-while-advancing-robotaxi-partnership