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.
