Do we like them?

Do we like Lucid Motors?

Makes luxury electric cars (Air sedan, Gravity SUV); based in Newark, California, with a factory in Arizona.

Our score: 4 out of 10. Great cars, but heavy losses, repeated layoffs, recalls and a shareholder lawsuit. Mostly state-funded. We'd hold off.

Lucid is a California luxury EV maker whose Air sedan and Gravity SUV are its main products. It has an Arizona factory. Saudi Arabia's PIF fund and a subsidiary have put in over $9 billion and own about 60% of the shares, per a November 2025 SEC filing.

Leadership has changed a lot. Marc Winterhoff was interim CEO from February 2025 until April, when Silvio Napoli, ex-Schindler boss, took over. Winterhoff's COO role was then eliminated and he left immediately.

Jobs have been cut hard. Lucid is laying off 18% of its US workforce, after a 12% cut announced in February. It has already dropped a second shift at the Arizona plant, and it reported an operating loss of roughly $3 billion in 2025.

Quality problems keep coming up. Lucid recalled 4,476 Gravity SUVs over second-row seat belt anchors, and blamed a supplier that changed its process. A securities class action also accuses it of hiding a supplier defect that halted Gravity deliveries for 29 days. Those are allegations, not findings.