• Boussaid said that orders are trending as expected. 
• As per the CFO, the consumer base for the Gravity includes former Lucid owners who want to move to a bigger car and also people who used to own SUVs in the past and wanted an upgrade.
• Lucid is now seeking to expand its addressable market with vehicles based on its mid-size platform and priced around $50,000.

Shares of Lucid logged their best day in about a month on Wednesday after the EV maker's CFO Taoufiq Boussaid expressed optimism about the company's performance in the fourth quarter (Q4), supported by the company's Gravity SUV.

The stock ended the regular session up 5.3% on Wednesday and edged down slightly in the after-hours session at the time of writing. 

“Q4 might be a good quarter for us,” Boussaid said at a conference on Wednesday while adding that the indicators are positive.

“The orders are trending the way we expected them to trend. We are not disappointed...Q4 will be primarily a Gravity quarter. It will represent the majority of our production and our sales,” the CFO said at the UBS Global Industrials and Transportation conference. Lucid delivered 3,099 vehicles to customers in the corresponding quarter of 2024.

About Gravity

Lucid started initial deliveries of its Gravity SUV in December 2024. It's the company's second vehicle after its Air sedan.

As per the CFO, the consumer base for the Gravity includes former Lucid owners who want to move to a bigger car and also people who used to own SUVs in the past and wanted an upgrade. However, both the Lucid Air and Gravity are higher end vehicles. While the Air starts at around $70,900, the Gravity starts at $79,900 for the base variant.

Lucid Eyes Market Expansion With Mid-Size Vehicles

Lucid is now seeking to expand its addressable market with vehicles based on its mid-size platform and priced around $50,000. The company is looking to launch three different cars based on the platform.

Production is slated to start four quarters from now, Boussaid said.

Uber Partnership

Ride-hailing platform Uber in July inked a partnership with Lucid to deploy its vehicles as robotaxis by deploying them with technology from California-based robotics company Nuro. Uber plans to deploy 20,000 or more of Lucid vehicles on its platform as robotaxis over six years. In September, the EV maker announced that it has delivered the first robotaxi engineering vehicle, a Gravity, to Nuro for the installation of autonomous driving tech.

Boussaid, however, noted that the company's current vehicles might not be ideal for being deployed at robotaxis owing to their size and price point. The mid-size, he opined, might be better suited for the application.

How Are Stocktwits Users Feeling?

On Stocktwits, retail sentiment around LCID stayed within the 'bearish' territory while message volume stayed at 'low' levels.

LCID stock is down by 55% this year and by about 36% over the past 12 months. 

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