News Summary

• Lucid Motors is cutting about 18% of its US workforce.
• The company is also eliminating the chief operating officer role held by Marc Winterhoff.
• The cuts come at a pivotal time for Lucid, which has yet to prove that it can profitably scale its EV business.
• Lucid is pursuing robotaxis through a partnership with Uber and Nuro, targeting a commercial launch in San Francisco later this year."I don't see any real direct implication from LCID's cost-cutting effort," an analyst said.