Lucid Group CEO Silvio Napoli told Bloomberg Television on Thursday that the automaker ended its work with AlixPartners, which it had hired to work to achieve cash savings of $1.4 billion this year. Napoli said he is leading an operational review to streamline the business, cut costs and make sure the rollout of a new mid-size model hits. "It is an exciting time and the tough medicine had to be started already, early on," he said. Having taken the helm earlier this year, Napoli has already moved on broad cost reductions, leadership changes and layoffs to counter soft U.S. demand.
The company continues to face weak demand following a turbulent 2025 marked by production problems, supply shortfalls and significant changes in trade and EV policy under the Trump administration. With oil prices climbing during the ongoing war in Iran, Lucid may be better positioned to attract shoppers newly focused on fuel economy. The company has been working to sell more vehicles into the growing global robotaxi market.
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On Wednesday, Lucid unveiled a deal with European rideshare company Bolt to put at least 25,000 autonomous vehicles on the streets of European cities, relying on models from its forthcoming midsize platform. That followed an April announcement of a partnership with Uber and Nuro to roll out autonomous Lucid Gravity SUVs and midsize models on Uber's platform. For everyday investors, the through-line is simple: Lucid is trying to steady demand by courting fleet and autonomy partners while tightening costs to buy time for its next models to scale.
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