Lucid delivered 38% more vehicles in Q2, shares go into higher gear

Luxury EV maker Lucid is on the rise during Thursday’s shortened trading session. The company reported its second-quarter delivery and production numbers after the bell on Wednesday, and investors seem to approve: shares are up more than 8%.

Lucid delivered 3,309 vehicles on the quarter, up 38% from the same period last year and up about 6% from the first quarter. That’s good enough for a sixth consecutive quarterly deliveries record. In the quarter, Lucid ramped up production of its new Gravity SUV.

In the first half, Lucid’s growth looks a lot better than rival Rivian’s. The latter posted a 23% year-over-year delivery decline in the second quarter, following a 36% drop in the first quarter. Still, Rivian is selling about 3x the number of vehicles Lucid is.

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GM has reportedly rehired more than 100 former Cruise employees, 18 months after shuttering the robotaxi unit

GM has rehired more than 100 employees it let go early last year when it shuttered Cruise, its former robotaxi business, according to reporting by The Information.

The hiring spree, which also includes employees from Nvidia and Uber, is geared toward ramping up GM’s plans for personal-use self-driving vehicles and not robotaxis. The former had been the focus of Cruise, prior to GM shuttering it in 2024.

Reporting last fall revealed that GM was attempting to rehire some former Cruise employees, but the scope of that effort wasn’t clear. More than 1,000 employees were laid off when the automaker scrapped Cruise, which it invested $10 billion into.

Google’s Waymo, Cruise’s former chief rival, is now worth $126 billion after a $16 billion funding round earlier this year. The company says it’s serving 500,000 paid robotaxi rides per week in the US.

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