Lucid’s growth plans are changing. The American manufacturer has decided to postpone the launch of its more affordable electric vehicles to the second half of 2027, compared to the end of this year as initially planned. This was announced by the CEO of the American start-up, Silvio Napoli, hinting at a major corporate review and a cost-cutting plan. A real operational restructuring, with which Lucid aims to save 1.4 billion dollars this year.
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Lucid takes time
How? Mainly by reducing production and inventory after recording increasing losses in the second quarter. Like other EV manufacturers, Lucid is also focusing on a mid-size car platform, smaller and cheaper, which it is developing to drive future growth. But until these efforts start generating revenue, the American company prefers to prioritize a more rigorous cost control, Reuters reports. Also for this reason, Lucid wants to take all the time it needs: according to the company, the luxury sedan Air and the Gravity SUV were launched a bit too hastily, and past mistakes should not be repeated.
New mid-size platform
“Our goal is to launch the mid-size platform only when it is ready in terms of quality”, Napoli said in an interview with Reuters. And he clarified: “Rushing the launch before everything is aligned would be, in my opinion, a very serious mistake at this stage”. The same Lucid CEO also announced that the plant in Saudi Arabia, where production of the mid-size platform will begin, will be ready by the end of this year. “But putting the supply chain back in order will take more time“, he concluded.
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