Lucid Group Inc.
(NASDAQ:LCID) CEO Silvio Napoli on Wednesday slammed rumors of the automaker filing for bankruptcy following reports.
Reports of Bankruptcy are Far From the Facts, Silvio Napoli Says The automaker's CEO took to the social media platform LinkedIn, saying that the company did not generally "comment on rumors," but added that the reports were "so far from the facts" that they required a "direct response." Read Also: Tesla Q2 Earnings: Elon Musk's Pay Package, Cybercab and Optimus Lead Top Investor Questions Napoli said that the automaker was "not considering bankruptcy or a transaction to take the company private," and said that the reports were "false." He said that the Board has also not explored any such scenarios.
"As disclosed in our most recent quarterly filing, Lucid has sufficient liquidity to fund its operations well into next year," Napoli said.
He added that the outside advisors had not advised the company to file for bankruptcy and that reports of any such advice were also untrue.
