EnergyMore in Energy→
Lucid Motors' Saudi Ambition Faces Reality Check as New CEO Slashes Costs to Survive Until Cosmos Launch
Key Takeaways
- New CEO Silvio Napoli cuts 1,500 jobs (18% of workforce) and eliminates second shift at Arizona plant.
- Lucid posts $1B net loss on $282.5M revenue in Q1 2026, with deliveries lagging production.
- Company focuses on launching Cosmos midsize SUV to achieve scale, with Saudi AMP-2 factory operational.
- Napoli consolidates authority, abolishes COO role, and signals a leaner, more focused Lucid.
DE
DT Editorial Team··via cleantechnica.com
![Mitsubishi's new EV breaks cover, and it looks a bit familiar [Images]](https://i0.wp.com/electrek.co/wp-content/uploads/sites/3/2026/06/Mitsubishi-Eclipse-Sportback-EV-first-look.jpeg?resize=1200%2C628&quality=82&strip=all&ssl=1)
![BYD's 1,000+ hp drop-top luxury EV spotted undisguised [Images]](https://i0.wp.com/electrek.co/wp-content/uploads/sites/3/2026/06/BYD-Denza-Z-EV-drop-top-spotted-2.jpeg?resize=1200%2C628&quality=82&strip=all&ssl=1)
