Lucid Aims to Save $1.4 Billion as Quarterly Losses Grow

Lucid Motors announced a plan to save $1.4 billion in cash by cutting spending on equipment, reducing unsold car inventory, and trimming everyday operating costs. CEO Silvio Napoli said the company's $3 billion in available funds should last into 2027. Q2 revenue rose 56% to $405M, but losses grew to $1.26B from $855.3M a year earlier.