Lucid Motors has pushed back the release of its upcoming affordable crossover SUV, named Cosmos, to the second half of 2027. Newly appointed CEO Silvio Napoli decided on the delay to ensure build quality and prevent the software issues that plagued previous vehicles like the Gravity SUV, prioritizing product reliability over rushed market entry.
This postponement is part of a broader corporate restructuring focused on aggressive cost-cutting, workforce reductions, and management changes. While the strategy aims to secure the company’s long-term survival, it has created immediate tensions with suppliers and triggered a sharp drop in Lucid’s stock price, shifting market attention toward upcoming joint initiatives such as the planned robotaxi service with Uber.
- Cosmos affordable EV postponed to the second half of 2027.
- CEO aims to prevent past quality and software issues.
- Major workforce layoffs and C-suite restructuring implemented.
- Stock price plunged over 15% following the earnings report.
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