Lucid’s Q3 results missed expectations with a $336.6 million revenue and a wider-than-expected loss of $2.65 per share. The company confirmed its midsize vehicle release for late 2026 despite losses and an increased free cash flow burn to $955.5 million. The Saudi Public Investment Fund also upped Lucid’s loan facility to $2 billion.

In Q3, Lucid delivered 4,078 vehicles, produced 3,891 vehicles, and had 9,966 vehicles produced through the quarter. Operational changes were made to accelerate Gravity production and prepare for the midsize vehicle launch. Lucid also announced partnerships with Nvidia for autonomous driving and Uber for a robotaxi service.

Uber plans to deploy 20,000 Lucid EVs with Nuro Driver technology over the next six years. Lucid’s survival hinges on the success of its upcoming midsize platform and the ability to scale production profitably. The company’s new brand ambassador, Timothée Chalamet, may play a role in revealing the new vehicle.

Read more at Yahoo Finance: Q3 losses widen as Gravity SUV production ‘ramping up,’ midsize EV on track for 2026 release