The company announced a new slate of executive hires meant to help turn things around, as Gravity SUV sales are not taking off as expected.
Lucid is replacing almost its entire executive team under new CEO Silvio Napoli, bringing in a new CFO, CTO, and three other C-level leaders in a single announcement.
The overhaul lands just over a week after the struggling EV maker cut 18% of its work…
The company is also eliminating a production shift at its Arizona factory to align “production plans with anticipated demand.”
Welcome back to TechCrunch Mobility, your hub for the future of transportation and now, more than ever, how AI is playing a part.
Lucid Motors pulled its guidance for the year, as it navigates swelling inventory and a company-wide cost-cutting measure.
Hertz is creating a new affiliate company called “Oro Mobility” to provide fleet management solutions “across a range of mobility segments.”
The search for a new CEO, which lasted over a year following the sudden resignation of Peter Rawlinson, is finally over.
The company struggled with quality issues when Gravity production started last year, and the new recall shows it’s not out of the woods yet.
Welcome back to TechCrunch Mobility — your central hub for news and insights on the future of transportation.
The concept was a highlight of Lucid’s investor day, in which the company detailed its ambitions to push deeper into autonomy while pumping out new, affordable EVs.