Lucid sees EV definite demand slowdown in US, Europe

Marc Winterhoff, Lucid Group Inc.’s interim CEO, is seeing clear deceleration in demand for electric vehicles (EVs) in both the US and Europe.

Winterhoff told Bloomberg TV the discontinuation of federal tax credits in the US pulled EV purchases forward into the third quarter.

“We are still working through our backlog, so we are a little bit insulated,” Winterhoff said, adding, “But definitely, there is a slowdown, there’s no question about it.”

The CEO also highlighted that the first batch of the Gravity sport utility vehicles (SUV), Lucid's second model after the Air sedan, will arrive in Europe late this year, with deliveries starting in the first quarter of 2026.

The company is doing its utmost to produce around 18,000 EVs this year, which is in line with the lower end of its forecast range, he added.