Lucid Motors kondigt grote ontslagen aan te midden van vertraging in de industrie

Lucid Motors, the luxury electric vehicle (EV) company, is cutting about 400 jobs as the EV industry faces slow growth. According to a recent SEC-registratie, this layoff round will affect 6% of Lucid’s staff by the end of October, with most layoffs impacting California employees, according to SFGate.

Ontslagen op alle niveaus

In an email to staff, CEO Peter Rawlinson explained that the layoffs would affect workers at all levels, including leadership and mid-level management, excluding hourly manufacturing and logistics employees. He expressed hope for Lucid’s upcoming SUV, the Gravity, but noted that it hasn’t started generating revenue yet.

"We optimaliseren onze middelen op een manier die volgens ons het bedrijf het beste positioneert voor toekomstig succes en groeimogelijkheden terwijl we ons richten op het bereiken van onze ambitieuze doelen", schreef Rawlinson.

Hoge kosten en zware verliezen

Lucid heeft geworsteld met de hoge kosten van het starten van een EV-bedrijf. Ondanks positieve recensies over de Air sedan, die varieert van $69,900 tot $249,000, rapporteerde het bedrijf meer dan $680 miljoen aan verliezen van januari tot maart van dit jaar. In 2023 had Lucid een nettoverlies van $2,8 miljard.

To manage costs, Lucid laid off 1,300 workers in March 2023. The company has stayed afloat partly due to funding from its biggest financial backer, Saudi Arabia’s sovereign wealth fund. In March, Lucid raised another $1 billion through a stock sale to a subsidiary of the fund.

Ontslagen binnen de sector

Lucid’s layoffs add to the growing list of job cuts in the EV industry, including those at Tesla and Rivian. In his email, Rawlinson urged staff to support their colleagues who are beginning their search for new employment.

EVXL’s Take

The layoffs at Lucid Motors highlight the challenges facing the EV industry, despite increasing consumer interest and positive reviews. The high costs and significant financial losses underscore the tough road ahead for new entrants in the market. Lucid’s reliance on external funding, particularly from Saudi Arabia’s sovereign wealth fund, has been crucial in keeping the company afloat.

The launch of the Gravity SUV could be a turning point, but it will need to quickly generate revenue to sustain Lucid’s ambitions. As the industry evolves, companies will need to balance innovation with financial prudence to thrive.

Foto met dank aan Lucid.