Lucid Cuts 12% of Staff as Shares Hit New Low Before Q4 Report

Overview

• About 12% of roles — roughly 800 positions based on prior headcount — were eliminated as part of a cost-saving push, with severance and benefits offered.
• Lucid stock fell to a new all-time low of $9.12 on Monday, the day before the company reports fourth-quarter results.
• Management says the layoffs do not change the timeline for a ~$50,000 midsize crossover expected to be built in Saudi Arabia as early as late 2026 or in early 2027.
• Despite doubling 2025 production to about 18,400 vehicles and lifting deliveries 55% to roughly 15,800, Lucid remains deeply unprofitable and continues to draw on a roughly $2 billion PIF credit facility.
• The Uber–Nuro robotaxi partnership includes a $300 million Uber investment and a plan to deploy 20,000 Gravity SUVs over six years, with a production-intent vehicle unveiled at CES and recent road tests in Santa Clara.