Back in June, Lucid announced it would cut 18 percent of its workforce as part of a broader restructuring. The company also reduced production at its Arizona factory, and now it's delaying the launch of its mid-size electric crossover designed to compete with the Tesla Model Y.
During the company’s second-quarter earnings call, Lucid officials revealed that its new factory will be ready to begin production of the Cosmos in the second half of 2027. The automaker was supposed to launch the electric SUV later this year, but it is delaying it to avoid launching a vehicle with issues.
View Price on AmazonDuring the call, Silvio Napoli, Lucid’s new CEO, said: 'Our objective is clear. Mid-size will launch only when every process and quality requirement have been met. We will not repeat the mistakes of the past by bringing a product to market before it is ready.'
Lucid will produce the Cosmos at its AM2 plant in Saudi Arabia. The factory will not be operational until early next year. The Lucid Cosmos is expected to have a starting price of under $50,000.
Motor1’s Take: Lucid’s affordable midsize electric SUV is vital to the company’s future. Its delay could be costly, but it appears the automaker wants to launch the best Cosmos it can build to satisfy customers.
Source: motor1.com
