- Lucid has delayed the launch of the midsize Cosmos electric SUV.
- It was supposed to launch this year, but it will now not arrive until the second half of next year.
- The Cosmos is one part of the automaker’s ‘fundamental reset.’
Back in June, Lucid announced it would cut 18 percent of its workforce as part of a broader restructuring. The company also reduced production at its Arizona factory, and now it’s delaying the launch of its mid-size electric crossover designed to compete with the Tesla Model Y.
During the company’s second-quarter earnings call, Lucid officials revealed that its new factory will be ready to begin production of the Cosmos in the second half of 2027. The automaker was supposed to launch the electric SUV later this year, but it is delaying it to avoid launching a vehicle with issues.
During the call, Silvio Napoli, Lucid’s new CEO, said:
‘Our objective is clear. Mid-size will launch only when every process and quality requirement have been met. We will not repeat the mistakes of the past by bringing a product to market before it is ready.’
Lucid will produce the Cosmos at its AM2 plant in Saudi Arabia. The factory will not be operational until early next year.
Photo by: Lucid Motors
A ‘Fundamental Reset’
Lucid is facing major hurdles, forcing a “fundamental reset” for the company, according to its CEO. The new plans will focus on three key areas: cost, quality, and culture.
“The way we operate has to change,” said Napoli. “While there is no question that Lucid brought leading innovations and outstanding products to the market, we are disappointed on several fronts, and for far too long.”
The company will also prioritize four strategic projects to turn the company around, including $1.4 billion in cash reductions. The new factory and the Cosmos will also play a vital part in the plan alongside the company’s robotaxi program.
“We will fix the business because the underlying causes are operational and largely within our control,” Napoli added. “But to get there, we must go back to basics. All our work must be focused on three fundamentals and four must-win deliverables.”
Lucid currently sells the Air and Gravity, a luxury sedan and SUV that start at around $70,000 and $80,000, respectively. The Lucid Cosmos is expected to have a starting price of under $50,000.
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Source: Lucid Motors
Motor1’s Take: Lucid’s affordable midsize electric SUV is vital to the company’s future. Its delay could be costly, but it appears the automaker wants to launch the best Cosmos it can build to satisfy customers.
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