Lucid Motors sets record as Gravity sales pick up and tax credit expires

Lucid Motors reported a record delivery of 4,078 vehicles in the third quarter of 2025, driven by increased sales of its Gravity SUVs and a surge in customers seeking to benefit from the expiring federal EV tax credit. This marks the seventh consecutive quarter of rising deliveries for the Saudi-owned luxury electric vehicle maker, although it remains behind the ambitious targets set during its 2021 public offering, which raised $4 billion. The company’s growth mirrors a broader industry trend, with Tesla, Ford, General Motors, and even Rivian experiencing significant third-quarter sales increases. Despite these gains, Lucid’s reliance on leased vehicles for tax credit eligibility complicates the assessment of the credit’s impact, and detailed breakdowns of Gravity versus Air sedan deliveries have not been disclosed. The company continues to expand its market presence, particularly in Saudi Arabia, where it has produced over 1,000 vehicles and plans to establish a full manufacturing facility. Additionally, Lucid secured a notable partnership with Uber,