Lucid CEO Peter Rawlinson said the job cuts will hit “nearly every organization and level, including executives.”
Lucid plans to build just 10,000 to 14,000 vehicles in 2023, despite factory capacity to build more.
Lucid’s Air luxury sedan is too expensive for the new federal EV tax credits — so the company is offering $7,500 “credits” of its own on certain models.
Electric vehicle maker Lucid Group said it has completed a planned $1.5 billion equity offering.
The company said it’s still on track to make between 6,000 and 7,000 of its luxury sedans this year.
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