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

GateNews
Stocks

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.

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