Lucid cuts 18% of staff, cancels second shift — pivot under new CEO

Update from EVs: Lucid Motors will cut 18% of staff and end the second shift at its Arizona plant.

New CEO Silvio Napoli says the moves aim to simplify the company, sharpen execution and boost competitiveness. This is the second major layoff this year.

About 1,500 roles affected; Lucid expects ~$158M annual savings and will pay ~$32M in severance. The COO role was eliminated and several senior executives left.

Lucid is also developing a lower-cost Cosmos (sub-$50K) and advancing robotaxi partnerships with Uber and Nuro.

Why it matters: a sign of EV market pressure and the need for strict business-model optimisation.

How do you assess Lucid's chances with Cosmos and robotaxis?

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