Transportation

Lucid Cuts Hundreds of Workers in Latest Blow to EV Industry

Workers assemble a Lucid Group Inc. electric vehicle at the company's facility in Newark, California. — Workers assemble a Lucid Group Inc. electric vehicle at the company's facility in Newark, California.
Photographer: David Paul Morris/Bloomberg

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By Kara Carlson

February 20, 2026 at 6:51 PM UTC

Lucid Group Inc. is slashing its workforce following a difficult 2025 for the electric vehicle maker, which struggled to boost production in a volatile auto market.

The cuts will impact 12% of its global workforce, the automaker said Friday in an emailed statement. Lucid didn’t specify the total number of job losses or current headcount, but the company had 6,800 employees at the end of 2024, suggesting the cuts are in the hundreds.