Lucid Motors has delayed the launch of its midsize Cosmos crossover to the second half of 2027.
The electric vehicle was originally expected to arrive this year with a price tag under $50,000.
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The delay is part of a broader "operational reset" announced by the company. Lucid aims to cut costs, preserve cash, and streamline operations amid ongoing financial struggles.
Operational Reset and Cost-Cutting Measures
In the second quarter, Lucid delivered only 3,953 vehicles, a 19% improvement from a year ago but still a modest figure.
The company acknowledged "premature launches," an ownership experience that fell short, and quality issues that were not addressed in a timely fashion.
To address these problems, Lucid has hired more service technicians, expanded mobile service capability, and reduced wait times for service appointments.
The company also promises "greater discipline" in spending, investment, and capital allocation.
Lucid has identified $1.4 billion in savings for 2026.
This includes cutting approximately $500 million in capital expenditures and saving around $158 million annually from job cuts announced last month.
The company is also simplifying its organization to accelerate decision-making.
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The new structure halves the number of direct reports to the CEO and places experienced leaders in key roles across finance, technology, customer experience, transformation, digital, and program execution.
Cosmos Delay and Robotaxi Progress
Work on the Cosmos is progressing, with Atlas drive units and prototypes undergoing validation, durability testing, crash certification, battery-pack manufacturing validation, and cold-weather testing in New Zealand.
