Lucid Motors, a struggling electric vehicle (EV) manufacturer, is set to axe nearly 1 in 5 of its US staff in a major retrenchment move. The company, which has faced significant financial challenges and production delays, is reportedly cutting 18% of its workforce in a bid to streamline operations and reduce costs. The layoffs are the latest in a series of cost-cutting measures implemented by Lucid as it navigates a highly competitive and rapidly changing EV market. As the company seeks to regain momentum and meet its ambitious production targets, the exact impact of the layoffs on its US operations remains to be seen.
Lucid cutting 18% of US staff as EV maker retrenches further Auto Finance News
