Lucid Group (NASDAQ: LCID) has had a rough year or two and could use some positive news. The electric vehicle (EV) company announced it would delay its Cosmos crossover until at least next year (it was previously scheduled for launch in late 2026). It's still bleeding cash and posted a net loss of $1 billion during the second quarter.
Management is now working on a plan to save cash, including two rounds of layoffs this year alone. The young EV maker went as far as to hire consulting firm AlixPartners to help with a turnaround plan. In a rare moment of good news from the company, it announced the 2027 Gravity GT-S. But is this a development that can move the needle?
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Lucid is reviving the 1,070-horsepower drivetrain from its discontinued Dream Edition for the GT-S, which it claims to be America's most powerful three-row crossover, barely surpassing the nearest competitor, Rivian's R1S three-row crossover, which has 1,025 horsepower. It's a lot of power, but Lucid's flaw has never been its ability to create excellent EVs.
The problems with Lucid have been production hiccups, supplier bottlenecks, product delays, and the inability to lower costs to consistently improve its gross margins -- a feat rival Rivian continues to excel at.
#flashing #cash
Management is now working on a plan to save cash, including two rounds of layoffs this year alone. The young EV maker went as far as to hire consulting firm AlixPartners to help with a turnaround plan. In a rare moment of good news from the company, it announced the 2027 Gravity GT-S. But is this a development that can move the needle?
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Lucid is reviving the 1,070-horsepower drivetrain from its discontinued Dream Edition for the GT-S, which it claims to be America's most powerful three-row crossover, barely surpassing the nearest competitor, Rivian's R1S three-row crossover, which has 1,025 horsepower. It's a lot of power, but Lucid's flaw has never been its ability to create excellent EVs.
The problems with Lucid have been production hiccups, supplier bottlenecks, product delays, and the inability to lower costs to consistently improve its gross margins -- a feat rival Rivian continues to excel at.
#flashing #cash
20 days ago
