Lucid Group’s stock cratered roughly 40% after reports surfaced that the struggling electric vehicle maker has retained AlixPartners, a restructuring advisory firm. The move, reported by CarBuzz on July 7, 2026, has turbocharged existing fears about Lucid’s financial trajectory. Prediction markets now indicate a 48-50% probability of bankruptcy before 2027.
The numbers behind the nosedive
In Q1 2026, the company posted revenue of $282.5 million against a net loss exceeding $1 billion in a single quarter. The full-year 2025 numbers were even worse. Lucid sustained a net loss of $3.8 billion, up from a $3 billion loss in 2024.
Lucid has already taken aggressive action to stop the bleeding. The company slashed approximately 1,400 jobs, an 18% reduction in its workforce. New CEO Silvio Napoli, who took the reins on June 1, 2026, walked into a wholesale leadership shakeup that also included the departure of several other executives.
The Saudi lifeline, and its limits
