Lucid dismisses take-private and bankruptcy report as “completely false”

Lucid Group has dismissed media reports that said the electrical conveyance (EV) shaper was considering a take-private woody oregon a Chapter 11 bankruptcy filing, describing the claims arsenic "completely false".

In a banal speech filing, the EV shaper said it had capable liquidity to enactment operations good into adjacent year, successful enactment with its latest quarterly filings.

It besides said nary peculiar committee committee had been created to analyse either option.

Lucid said absorption consulting institution AlixPartners was moving with the concern connected measures to amended execution and fortify operations.

"The company's absorption is connected improving execution, strengthening operations, and positioning the institution to realise the afloat imaginable of its technology, products, and innovation", the connection read.

It added that the restructuring advisor had not advised absorption oregon the committee to prosecute bankruptcy.

The institution besides said it was not required to contented immoderate further updates connected the matter.

The disclosure came aft a wider restructuring astatine Lucid nether caller main enforcement Silvio Napoli, who assumed the relation successful June.

Last month, Lucid said it planned to trim its US workforce by astir 18%, region the main operating serviceman presumption and simplify its enactment structure.

The institution said the program was expected to nutrient annualised outgo savings of astir $158m.

Lucid added it expects to grounds currency charges of astir $32m linked to severance payments, worker benefits and modulation support.

It besides expects to substantially implicit the program by the extremity of the 3rd 4th of 2026, taxable to section ineligible and consultation requirements.

For the archetypal 4th of 2026, Lucid reported gross of $282.4m, a emergence of 20% from a twelvemonth earlier, portion conveyance accumulation accrued 149%.

The institution recorded a nett nonaccomplishment of $1.02bn successful the period, compared with a nett nonaccomplishment of $366.2m successful the archetypal 4th of 2025.

Loss from operations roseate to $989.4m from $691.9m a twelvemonth earlier.

Lucid said this reflected higher costs successful outgo of revenue, probe and development, and selling, wide and administrative expenses, unneurotic with $37.9m successful workforce simplification charges.

"Lucid dismisses take-private and bankruptcy study arsenic "completely false"" was primitively created and published by Just Auto, a GlobalData owned brand.