Lucid Motors reported a sharp increase in sales of its branded electric vehicles.
The Newark, California-based automaker said it sold 3,109 vehicles in the first quarter of 2025, up 44% from the previous year. The company said it has already produced 2,212 vehicles, with "plus over 600 additional vehicles in transit to
Lucid's sales surge has come amid Tesla's troubles. Last month, the company's CEO said that "over 50 percent" of its orders come from former Tesla owners.
As a reminder, Lucid Motors is an American automotive company specializing in the production of premium electric vehicles. Founded in 2007 under the name Atieva, it initially focused on developing battery technologies. In 2016, the company changed its name to Lucid Motors and introduced its first production car, the Lucid Air, which competes with the Tesla Model S.
Lucid has significant investment from the sovereign wealth fund of Saudi Arabia, which allows it to actively develop.