Electric vehicle manufacturer Lucid Motors is facing another setback as it announces a second round of job cuts in 2026, amid declining demand for its luxury EVs. The move comes as the global EV market continues to struggle with oversaturation and increasing competition, leading to a significant slowdown in sales. Lucid's decision to reduce its workforce is a stark reminder of the challenges facing the EV industry, which had previously been expected to drive growth and innovation in the automotive sector. As the company grapples with the consequences of waning demand, investors and analysts will be watching closely to see if Lucid can adapt and rebound in the face of a rapidly changing market.
Lucid slashes jobs for second time in 2026 as EV demand wanes Automotive News
