Lucid Group announced it is delaying the launch of its midsize Cosmos SUV until at least the second half of 2027, citing an operational reset. The company said the move will help it achieve $1.4 billion in cash flow improvements, including $600 million to $800 million in inventory savings, about $500 million in capital expenditure savings, and $200 million in operating expense savings. Lucid also disclosed it has cut about 20% of its U.S. staff through two rounds of layoffs. The company exited the second quarter with $3 billion in total liquidity, including about $730 million in cash and cash equivalents, and reported negative free cash flow of $1.48 billion for the quarter.
Lucid Group IncDelays Cosmos SUV to 2027 and cuts 20% of U.S. staff, aiming for $1.4B cash flow improvements but reports negative free cash flow.
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