Lucid Group, Inc. ( LCID ) shares are trading higher Monday after the company announced its EV production and delivery totals for the fourth quarter.

Lucid said it produced 3,386 vehicles and delivered 3,099 vehicles for the quarter ended December, a 42% and 78.7% jump, respectively, from a year ago.

For comparison, the company produced 1,805 vehicles and delivered 2,781 vehicles in the third quarter of 2024.

For the full year 2024, Lucid Group ( LCID ) reported producing 9,029 vehicles and delivering 10,241 units, with 5% of the deliveries subject to operating lease accounting. This is a 7.1% and 70.6% increase year-on-year respectively.

Lucid also scheduled its fourth-quarter earnings report to be released after the closing bell on February 25. The company will host a conference call to discuss the results on the same day.

Also Read: Tesla Hits Record EV Sales In China Despite Global Dip: Report

Lucid reported third-quarter revenue of $200.04 million, beating the analyst consensus estimate of $197.97 million, according to Benzinga Pro.

In November 2024, the company started taking orders for the Gravity SUV with the initial orders being taken only for the Grand Touring trim of the SUV starting from $94,900.

However, Lucid revealed that production of the lower-priced Touring trim of the vehicle, starting at $79,900, will start only in late 2025.

Lucid has also indicated plans to produce a midsized platform priced at approximately $48,000 by late 2026, targeting Tesla’s mass-market offerings, the Model 3 and Model Y. 

Price Action: LCID shares are trading higher by 1.66% at $3.345 at the last check Monday.