Lucid Motors has cut 400 jobs . That’s about six percent of the workforce. By the way, the company also laid off 1,300 people last year. All this comes just before its launch an important launch for the automaker.
You can probably guess the reason for the layoffs. 400 people got the pink slip for the ever-useful and nebulous term known as “rebuild.” To that end, the company says it expects the restructuring to be completed by the end of the third quarter, though it has not said anything about rehiring.
“As always, we need to be vigilant about spending. As we focus on achieving our ambitious goals, we are optimizing our resources in ways that we believe will best position the company for future success and growth opportunities,” said Peter Rawlinson, the company’s CEO, in a company email. .
These ambitious goals include the aforementioned Lucid Gravity, an EV SUV. The company calls it “the world’s best SUV,” and it will have two electric motors, all-wheel drive, and a range of 440 miles per charge. These are really good features.
However, so does the car . EV growth has stalled in North America, so if EV doesn’t catch on, it’s likely time for more restructuring. Failing that, Lucid can always .
Speaking of stalled EV growth, most major US manufacturers have laid off workers in the past year. Tesla’s but so has Rivian . It’s the same .
