Lucid Motors Delays Launch of New Mid-Size Vehicle Platform to 2027

Silvio Napoli, the new CEO of Lucid Motors, recently announced a postponement of the company’s initial plans. The launch of the new mid-size platform, originally scheduled for late 2026, has been delayed until the second half of 2027. This decision is part of a far-reaching reorganization process at the company, which has accumulated multimillion-dollar losses and is seeking to regain control of its finances.

During the presentation of its second-quarter 2026 results, Lucid Motors unveiled its “Back to Basics” transformation program. The company’s goal is to save 1.4 billion dollars this year by reducing operating costs, capital expenditure and working capital. The plan is built around three priority pillars: liquidity and spending control, improved customer experience and quality, and a cultural shift within the organization.

Napoli, who previously led the Swiss elevator company Schindler, has been forced to take drastic measures. At the end of June, the company eliminated approximately 18 percent of its workforce as part of its cost-cutting efforts. The financial situation nonetheless remains critical: since its founding, Lucid Motors has accumulated losses of 17.67 billion dollars, of which 1.26 billion corresponds to the second quarter of 2026 alone. Although revenue for that period reached 405 million dollars, 56 percent more than the previous year, it still represents just a third of the quarterly losses.

One of the company’s main problems is its low sales volume. In the second quarter it delivered 3,953 electric vehicles from its two current ranges, the Lucid Air and the Lucid Gravity. These figures slightly exceed those of premium brands such as Ferrari, but with much lower average selling prices and therefore lower turnover. Meanwhile, the cost structure remains high.

Lucid Motors is betting on mid-size vehicles to increase its sales volume

To escape this situation, Lucid Motors intends to expand its offering beyond the premium segment with a mid-size platform. It has already presented two models based on it: the more sporty Lucid Cosmos, and the Lucid Earth. A third model, still unnamed, is planned, aimed at more active users with a functional or off-road focus. These vehicles will be sold with a starting price for the entry version below 50 thousand dollars.

The company’s chief has made it clear, however, that these new vehicles will not reach the market until all process and quality requirements have been met. As he explained, the company had lacked consistency, reacted too slowly to quality problems and launched products before they were ready. And this is something that is not going to happen again.

“The way we operate has to change. Lucid Motors has delivered innovations and outstanding products, but for too long it has failed in execution, broken commitments, launched models prematurely, underinvested in after-sales service and allowed complexity to slow down decisions.”