business / news / / TechCrunch
Lucid Motors said Tuesday that it's no longer sure how many vehicles it will build or sell this year.
Lucid Motors has withdrawn its annual production and sales guidance amid CEO transition and cost cuts.
KEY POINTS
- A recent 12% workforce layoff cost $40 million but is projected to save $500 million long-term.
- First quarter earnings were worse than expected due to a 29-day production disruption and seat supplier issues.
- Lucid is still planning a robotaxi launch with Uber and Nuro, targeting Q4 for road-ready vehicles.
- Production ramp-up for Lucid's mid-size, sub-$50,000 EV has been delayed to 2027.
COMPANIES
Summarized by Newsio from TechCrunch. How we summarize →