Lucid Motors has pushed back the launch of its Cosmos electric vehicle to the second half of 2027, delaying a model that was originally expected to arrive later this year. The affordable crossover SUV, initially priced under $50,000, represented a significant shift for the luxury EV manufacturer seeking to expand beyond its narrow customer base.
CEO Silvio Napoli attributed the postponement to lessons learned from previous product rollouts. The company has faced persistent challenges with build quality and software issues on earlier models, most notably its Gravity SUV. Napoli acknowledged that Lucid has “disappointed on several fronts” and stated the company must avoid repeating past mistakes by launching products prematurely.
The delay follows sweeping organizational changes at Lucid, including leadership restructuring and workforce reductions totaling 30% this year. The company is also cutting production at its Arizona factory and pursuing $1.4 billion in cost savings. While the extended timeline may frustrate potential buyers, Lucid’s near-term prospects now depend heavily on its robotaxi partnership with Uber and Nuro, which Napoli described as a crucial project targeting a late-2025 launch.
Financial challenges have intensified the pressure on Lucid. The company’s stock dropped over 15% following the announcement, and management warned of reduced vehicle production forecasts for the year ahead.
Originally reported by Techcrunch →
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