Lucid Motors is laying off 18% of its workforce, or around 1,500 employees, just four months after the EV maker cut 12% of its staff. The company said on Monday that it has also “eliminated the second shift” of EV production at its factory in Casa Grande, Arizona.
The cuts are part of a bid by Lucid’s new CEO, Silvio Napoli, to “simplify the company, sharpen execution, and position Lucid to become more competitive over time,” the company said in a statement. The lay-offs come as the electric vehicle market in the United States has cooled, with major automakers pulling electric models from their own product plans.
