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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.
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DT Editorial Team··via cleantechnica.com