- Lucid Motors is undergoing major restructuring this year.
- Several high-ranking executives have recently departed the company.
- It’s also killing a production shift at its Arizona factory.
Lucid Motors will reduce its U.S. workforce by 18%, the company said in an SEC filing on Monday. The maker of the Air and Gravity electric vehicles has been burning billions amid a slow year of growth for electric vehicle sales, while competition has been steadily growing.
The layoffs are part of a broader restructuring plan that also includes eliminating the second production shift at its AMP-1 factory in Arizona. The company expects the restructuring to save around $158 million, and anticipates cash charges of roughly $32 million for severance, employee benefits, and transition costs.
Lucid also said COO Marc Winterhoff has departed the company, following the elimination of the COO position itself. His exit is the latest in a string of high-profile management changes at Lucid this year. Longtime CEO Peter Rawlinson departed earlier this year, after which Winterhoff briefly served as interim CEO. The company eventually brought in Silvio Napoli, the former CEO of Schindler Group, as its new chief executive.
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Source: Suvrat Kothari
We also saw several high-ranking engineers depart during this period. Emad Dlala, the company’s senior vice president of powertrain and engineering, exited the company in early June. And Zach Walker, the chief engineer of the upcoming midsize platform, also departed last month.
This is Lucid’s second round of layoffs in 2026, following a 12% workforce reduction in February. Restructuring among EV startups is nothing new, but few have had to move this fast or this often.
The company is now betting its turnaround on two upcoming mass-market electric crossovers, the Cosmos and the Earth. The Cosmos, expected to start around $50,000, will rival the Tesla Model Y and the Rivian R2, with production slated to begin before the end of this year. The Earth is expected to follow by the end of 2027.
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