New bosses rarely talk like this. On Lucid’s second-quarter earnings call, chief executive Silvio Napoli read out a list of the company’s own failures. “We have disappointed on several fronts, and for far too long,” he said.
“We missed commitments, launched products before they were ready, underinvested in service, responded too slowly to quality issues, and allowed complexity to slow decisions down,” Napoli went on. His verdict on the company he took over in June was blunt: “Potential is not performance.”
The affordable EV slips to 2027
The confession came with a cost. Lucid is pushing back its midsize Cosmos, a roughly $50,000 crossover and its first mainstream car, from this year to the second half of 2027. That is a delay of almost a full year, TechCrunch reported.
The reason is quality. Lucid’s two current cars, the Air saloon and the Gravity SUV, suffer from software glitches, including key fob and infotainment faults, owners told Business Insider. Napoli’s predecessor once apologised to them directly.
