Lucid Revenue Projections 2023 to 2030
With over 4,000 deliveries in 2022, Lucid Motors is well on its way to scaling revenue and making a serious statement in the electric car market.
Revenue & Delivery Projections
| Year | Deliveries | Revenue |
|---|---|---|
| 2023 | 21,000 | $2.1 billion |
| 2024 | 63,000 | $6.3 billion |
| 2025 | 189,000 | $18.9 billion |
| 2026 | 350,000 | $35 billion |
| 2027 | 500,000 | $50 billion |
| 2028 | 650,000 | $65 billion |
| 2029 | 800,000 | $80 billion |
| 2030 | 1,000,000 | $100 billion |
Lucid plans to produce 500,000 EVs annually by 2025 and CEO Peter Rawlinson confirmed 34,000 current reservations along with a 100,000 order from the Saudi Arabian government.
34,000 reservations represent $3.4 billion in potential revenue for the company plus Lucid Motors tripled production and doubled deliveries in Q3 2022 after firing some key executives and speeding up the production line.
The Casas Grande Arizona factory will be able to produce 90k vehicles in early 2023 plus the Saudi Arabia factory is currently under construction. Once both are completed, Lucid will have a max production capacity of 500k vehicles by 2025.
We can estimate that annual production will at least double every year as a conservative measure. Things happen and Lucid may have to reduce production due to supply chain issues, rising lithium prices, geopolitical conflicts, etc.
The June 1st 2022 Lucid Air price increase however is a good sign as the company attempts to keep up with soaring demand and inflation. Here is the updated pricing for the 3 available Lucid Air Models:
- Lucid Air Pure: $87,400
- Lucid Air Touring: $107,400
- Lucid Air Grand Touring: $154,000
Assuming most of the orders will be the base Pure model, we estimate an average selling price of $100,000 to keep the data simple and easy to process.
