Lucid's Cosmos EV will now launch in 2027, not 2026, the automaker's new CEO said on Tuesday.
Silvio Napoli said he does not want to rush the midsize EV into production before it's ready, as Lucid has done in the past.
Napoli said he is reviewing the business and laid out the beginnings of a turnaround plan.
Lucid Motors will launch its more affordable, midsized EV in 2027, not late 2026 as initially planned, CEO Silvio Napoli said on the company's second-quarter earnings call on Tuesday. The delay comes amid a broad review of Lucid's business that has included deep job cuts and an overhaul of the executive suite.
The Cosmos EV, which should cost under $50,000, is key to scaling up Lucid's vehicle sales and bringing in more revenue. The startup has targeted late 2026 for the start of production at its factory in Saudi Arabia. But on Tuesday, Napoli said the new model will instead hit production in early 2027, before ramping up in the second half of that year.
