Lucid Reduces Production and Lays Off 18 Percent of Its Workforce
Key takeaways
- The EV maker has implemented substantial layoffs for the second time this year, and COO Marc Winterhoff has also departed the company.
- Now, the smaller Cosmos SUV is right around the corner, and the Tesla Model Y competitor will aim to truly solidify Lucid's spot in the market.
- See all results for used Lucid Motors for sale near p6b 4z9
Why this matters: an automotive development that could shape industry direction or buying decisions.
The EV maker has implemented substantial layoffs for the second time this year, and COO Marc Winterhoff has also departed the company.
Michael Simari|Car and Driver Lucid is eliminating 18 percent of its U.S. workforce, the second significant layoff for the nascent automaker this year.The company is also reducing production at its factory in Casa Grande, Arizona, in a bid to counteract its high inventory and save money.Marc Winterhoff, the chief operating officer, who also served as the interim CEO after the departure of Peter Rawlinson, has now left the company and Lucid is entirely eliminating the COO position.Last year, Lucid launched the large Gravity SUV to accompany the Air sedan in the startup automaker's lineup and bolster sales. Now, the smaller Cosmos SUV is right around the corner, and the Tesla Model Y competitor will aim to truly solidify Lucid's spot in the market. But before that arrives, Lucid appears to be going through some tricky times, with an SEC filing submitted today showing that Lucid will reduce its U.S. workforce by 18 percent and reduce output at its Arizona factory.
See all results for used Lucid Motors for sale near p6b 4z9