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Dive Brief:
The California-based EV maker Lucid Group, in a second-quarter financial update with investors, outlined an “operating reset” focused around cutting costs for a $1.4 billion cash flow improvement and an accelerated path to profitability. Lucid ended the quarter with $3.0 billion in total liquidity and said it has “sufficient liquidity runway well into 2027.”
Lucid confirmed the delay of the Cosmos, its first model on a new midsize platform, which was originally set to be revealed this summer and launch before the end of 2026. The company indicated production will now scale up in the second half of 2027.
A “sportier” version of the Gravity SUV is due to be revealed at Monterey Car Week in August, the automaker also confirmed.
