Tag
Lucid Motors faces bankruptcy rumors causing a stock plunge of up to 50%, though the company denies the claims and points to cash reserves. The situation highlights broader concerns about the viability of EV-only automakers amid slowing demand and financial losses.
Lucid Motors is laying off 1,500 workers (18% of its workforce) as part of its second major cut this year, aiming to streamline operations and reach profitability. The company is also ending its second shift and eliminating the COO role.