Lucid Unleashes America's Most Powerful 3-Row Crossover. Is It the Answer Investors Need?
There's a lot going on with Lucid right now, including the flashy Gravity GT-S. Here's what investors can expect.
Overview
Lucid Group (NASDAQ: LCID) has had a rough year or two and could use some positive news. The electric vehicle (EV) company announced it would delay its Cosmos crossover until at least next year (it was previously scheduled for launch in late 2026). It's still bleeding cash and posted a net loss of $1 billion during the second quarter.
Management is now working on a plan to save cash, including two rounds of layoffs this year alone. The young EV maker went as far as to hire consulting firm AlixPartners to help with a turnaround plan. In a rare moment of good news from the company, it announced the 2027 Gravity GT-S. But is this a development that can move the needle?
Interior of Lucid Gravity GT-S. Image source: Lucid
Details
Source
Originally published at www.fool.com.