Lucid Motors (LCID) had a surprising turn of events in 2025, as they took in a significant number of Rivian (RIVN) trade-ins, but most of these were from Tesla (TSLA) owners. This revelation comes as a bit of a twist, considering the three brands are often compared as direct competitors in the electric vehicle (EV) market.
According to Nick Twork, Lucid's communication boss, the company received over 100 trade-in requests from Rivian owners, indicating a shift in consumer preferences. Interestingly, Twork also noted that the majority of these trades were from Tesla drivers, which is not entirely surprising given the vast number of Tesla owners.
This information comes on the heels of Lucid's struggles with Gravity production in the first half of the year. However, the company claimed that output picked up in the final months, and they are now gearing up for a significant delivery surge.
Despite the challenges, Lucid is determined to meet its production goals. They aim to produce 18,000 vehicles this year, a slight adjustment from their initial target of 20,000 to 18,000. With only 9,966 vehicles built at their Casa Grande, Arizona, manufacturing plant, they have a challenging task ahead.
As Lucid prepares to release its Q4 and full-year 2025 production and delivery numbers, investors are eagerly awaiting news of the company's growth plans. Twork has hinted at more details during the Capital Markets Day in the first quarter, which could provide valuable insights into Lucid's strategy for the year ahead.
It's worth noting that while Lucid's stock price took a hit in 2025, dropping by over 60%, Rivian's and Tesla's stock prices saw a positive trend, rising by 45% and 15%, respectively. This contrast in performance raises questions about the market's perception of these EV brands.
The question remains: Will 2025 be Lucid's year of resurgence, with Gravity production ramping up and the midsize platform launch? The answer may lie in the upcoming Q4 and full-year results, and the comments and discussions that follow.
