Lucid Group is heading into the 2026 model year with what it claims is an improved lineup, including greater range and feature improvements for a key model, but also higher prices. The cost increase comes at a time when battery-electric vehicle prices are under tremendous pressure and the Saudi Arabia-backed automaker continues to struggle for brand recognition and purchase consideration.
The fledgling BEV maker is also moving to redefine its financial profile with public investors with a move to increase the company’s share price, after striking a deal with rideshare giant Uber to enter the robotaxi business.
Air Improvements
The flagship Air sedan lineup gets multiple upgrades. The Air Touring trim , thanks to more energy-dense lithium-ion battery cells, gets a range boost from 406 miles (654 km) to 431 miles (694 km). A better, higher capacity HVAC system introduced in the new Gravity CUV migrates to all Air models and a 40-amp travel charger cable is now standard on all trims. The Air Grand Touring gets standard 20-way massaging, heated and cooled front seats. Lucid’s Dream Drive Pro semi-autonomous technology gets a hands-free drive assist and automatic lane changing feature via an over-the-air update. Unlike the Gravity that has a native NACS-standard charge port, all Air trims still have a native CCS-standard port, so Lucid is selling, for $220, an adapter allowing Air owners in the U.S. to use Tesla’s vast Supercharger network and its V3 and V4 generation DC fast chargers.
Pricing on the Air lineup is up $1,000 from 2025MY on Pure and Touring grades, to $69,900 and $79,900, respectively, while the price of the Air Grand Touring climbs $4,000 to $114,900.
Production of the Gravity CUV began last December. Lucid company produced 6,075 total units in the first half of the year, with an expected 20,000 units produced in 2025.
According to Omdia Automotive Data, Lucid sold 3,890 vehicles in the first half of the year, compared with 3,050 in the same period in 2024.
Marketing Challenges
Despite its product and engineering chops (the Air’s advanced motors are a 2-time Wards 10 Best Engines & Propulsion Systems winner), the company, backed by the Saudi Arabia Public Investment Fund (PIF), has consistently struggled to gain brand recognition. In 2023, then-CEO Pater Rawlinson acknowledged that too few people had even heard of Lucid. Interim CEO Marc Winterhoff said increasing brand reach was a major priority after taking over in January.
That remains the company’s biggest obstacle as it continues its direct-selling, no-dealer sales and distribution approach. While it has Lucid Studios stores in some key markets, the lack of dealerships and widespread service infrastructure makes many potential buyers hesitant to take the plunge.
Robotaxis
Lucid is also joining the robotaxi movement, striking a deal earlier this month with Uber Technologies and self-driving software maker Nuro to develop a new driverless taxi service. Shares of the BEV maker jumped 36% on the news. The companies plan to bring some 20,000 Lucid robotaxis to an unnamed U.S. city in late 2026. As part of the deal, Uber is investing “hundreds of millions of dollars” in both Lucid and Nuro, according to a company statement.
"This investment from Uber further validates Lucid's fully redundant zonal architecture and highly capable platform as ideal for autonomous vehicles, and our industry-leading range and spacious well-appointed interiors, as ideal for ridesharing," says Winterhoff. "This is the start of our path to extend our innovation and technology leadership into this multi-trillion-dollar market."
Redefining Financials
The company is undergoing some substantial financial restructuring. Lucid announced earlier this month that it filed a preliminary proxy statement with the Securities and Exchange Commission regarding a special shareholder meeting to authorize a reverse stock split of the company's Class A common stock at a ratio of 1-for-10.
A 1-for-10 reverse stock split means Lucid would reduce outstanding shares by a factor of 10, combining 10 old shares into one new share. The stock price will then be multiplied by 10. Lucid’s shares have long traded under $4 a share, and companies make such a move sometimes to change the optics of the shares’ value.
PIF owns a 60% stake in Lucid, making it the controlling shareholder. Between 2018 and 2025, PIF has invested approximately $9 billion into the venture, according to public financial statements. The company has a $9.95 billion market cap, according to Yahoo Finance.
