23:03 - 22.06.2026

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June 22, Fineko/abc.az. US-based premium electric vehicle developer Lucid Motors is rolling out a sweeping corporate downsize, slashing 18% of its remaining global workforce — roughly 1,500 personnel. The aggressive corporate cost-cutting campaign follows just four months after a separate 12% staff reduction.

According to ABC.AZ, alongside the white-collar and factory headcount reductions, Lucid has formally eliminated the second operational production shift at its core assembly complex located in Casa Grande, Arizona.

Core Corporate and Restructuring Vectors:

• The First Major Mandate Under New CEO: The structural overhaul marks the first aggressive operational maneuver executed by Silvio Napoli, who officially took over the CEO reins this June. Napoli noted that the consolidation is specifically calibrated to simplify the corporate footprint, sharpen internal manufacturing execution, and anchor structural competitiveness. The measures are projected to generate approximately $158 million in annualized overhead savings for the venture.

• Pivot Toward the $50K Cosmos Segment: The workforce contraction hits as the broader US EV market navigates a noticeable cooling phase, prompting legacy and startup marques to scale back near-term factory targets. Moving forward, Lucid is consolidating its engineering and capital tracks toward the launch of its highly anticipated midsize vehicle, the Lucid Cosmos SUV. Slated to debut with a competitive starting price tag under $50,000, the mass-market crossover is positioned as a primary unit-economic driver to guide the brand toward net profitability.