Electric vehicle (EV) maker Lucid Group has announced plans to cut about 18 per cent of its US workforce, marking its second major round of layoffs in recent months. The company also confirmed the departure of Chief Operating Officer Marc Winterhoff, who had served as interim CEO for over a year before Silvio Napoli was appointed in April.
Lucid had around 9,000 employees globally at the end of 2025. The latest cuts will affect full time staff, contractors, and hourly manufacturing workers. The company is also scrapping the second shift at its AMP 1 factory, its main EV production site. In February, Lucid had already reduced its US workforce by 12 per cent to conserve cash.
The layoffs come as EV makers face growing pressure to cut costs. Consumers are increasingly choosing lower priced models, while competition from established automakers and new entrants is squeezing profitability. Lucid has also struggled with operational setbacks, including supplier issues that delayed deliveries of its Gravity SUV earlier this year. Last month, the company suspended its 2026 production outlook pending a business review.
Lucid is betting on the Gravity SUV, a new mid size vehicle platform, and partnerships with Uber and self driving startup Nuro to drive future growth. The restructuring will cost about $32 million in severance and related expenses but is expected to save around $158 million annually.
Shares of Lucid fell about 4 per cent following the announcement, reflecting investor concerns over the company’s path to profitability.
