Lucid Motors is cutting 18% of its workforce (roughly 1,500 employees) just four months after a prior 12% reduction. New CEO Silvio Napoli, who joined in April with no automotive background, is eliminating the second production shift at the Casa Grande, Arizona factory and scrapping the COO role entirely. The restructuring is expected to generate $158M in annualized savings. The cuts come as Lucid prepares to launch the Cosmos SUV, a sub-$50K mass-market vehicle aimed at driving profitability. Saudi Arabia's Public Investment Fund, which owns nearly 57% of Lucid, continues to inject capital under increasingly expensive terms. The company delivered only 10,241 vehicles in 2025 against a factory designed for 90,000/year. Lucid is simultaneously pursuing an autonomous robotaxi partnership with Uber and Nuro, though the fate of various programs under the restructuring remains unclear.
