Lucid Motors to lay off 1,300 employees
in latest cost-cutting move
Azfamily.com,
by
Peter Valencia
Original Article
Posted By: Navydad,
3/29/2023 8:11:53 AM
CASA GRANDE, AZ (3TV/CBS 5) -- Electric vehicle startup Lucid Motors is battling more problems as the automaker plans to lay off part of its workforce this week.
The California-based automaker is reportedly said to be “laser-focused on cost” and an internal memo obtained by the news blog Insider says that about 18% of staff will get a pink slip. Federal SEC filings confirmed the number of layoffs and that an email was sent to employees by Lucid CEO Peter Rawlinson notifying them of the cost-cutting move.
Reply 1 - Posted by:
Northcross 3/29/2023 8:20:01 AM (No. 1436152)
CEO note to laid off employees. "Sorry you saps. We skimmed off all the government money to pay the executives. You didn't really think this was going to be a profitable business, did you?"
25 people like this.
Reply 2 - Posted by:
Old Army Vet 3/29/2023 8:33:27 AM (No. 1436164)
This is what happens when the government forces a useless idea on the public. Maybe one day electrics will be successful, however, it's not today.
14 people like this.
Reply 3 - Posted by:
lftrn97 3/29/2023 8:44:48 AM (No. 1436178)
You crawl before you walk and you wall before you run. Instead ev companies take success money and build billion dollar plants out of the gate.
6 people like this.
Reply 4 - Posted by:
WhamDBambam 3/29/2023 9:01:04 AM (No. 1436190)
Take the government money out of EV's and they all will fail.
20 people like this.
Reply 5 - Posted by:
felixcat 3/29/2023 9:02:42 AM (No. 1436194)
I saw my first Lucid EV last November while visiting friends in Naples, FL. Never saw that car company before and looked it up and I believe the starting price for one of their cars is $84,000+
10 people like this.
Reply 6 - Posted by:
DVC 3/29/2023 9:18:30 AM (No. 1436209)
EVs are NOT going to replace gasoline and diesel vehicles. The stupid things are too expensive, way too short ranged, and ultimately the "refuel in hours" part is an absolute NON STARTER.
Stop with these stupid, expensive entirely impractical TOYS.
18 people like this.
Reply 7 - Posted by:
Dodge Boy 3/29/2023 9:29:56 AM (No. 1436226)
Just imagine paying $25,000 to replace the EV batteries if damaged in a car wreck or the battery fails for some reason. That will be more than what a typical used EV would be worth.
11 people like this.
Reply 8 - Posted by:
Strike3 3/29/2023 10:12:04 AM (No. 1436258)
I try not to laugh when I read this and similar articles but pushing a rope has never worked in the past because the physics just doesn't allow good results. Logic does not work with our current government because they are dingbat leftists and green weenies so I fear there will be billions of additional dollars thrown at this unworkable and unfeasible technology, pushing EVs and bailing out our "too big to fail" female owned auto industries, from the generosity of unwilling taxpayers so we might as well enjoy the clown show while it lasts. When in fails in a couple of years, the sound will be heard across the globe. FJB
7 people like this.
Reply 9 - Posted by:
DVC 3/29/2023 10:19:08 AM (No. 1436265)
Another Solyndra scam, perhaps.
EVs are LOSERS.
12 people like this.
Reply 10 - Posted by:
skacmar 3/29/2023 11:51:35 AM (No. 1436375)
Lucid makes a very good EV vehicle that gets better mile range than Tesla. Like them or not, EVs have their market for those who want to pay the premium prices. Unfortunately for auto companies, investors, states, and others who have put their money in what was supposed to be an expanding EV market, Joe Biden got elected. Now, even though he preaches EV theology, the people who can afford a $80,00 to $150,000 EV car are hesitant to spend the money right now. Their investment accounts are down over 30%, they are worried about interest rates, recession, the debt ceiling, more government spending, and what other suicidal financial moves the Democrats will try to make next. EV companies who would have flourished under Trump are withering away under Biden and the Democrats.
3 people like this.
Reply 11 - Posted by:
DVC 3/29/2023 12:06:25 PM (No. 1436405)
ALL EVs are subsidized massively by the government.
Take away the subsidies, and very few will sell. Very expensive short range commuter cars are ridiculous, frankly.
3 people like this.
Reply 12 - Posted by:
IowaDad 3/29/2023 1:22:14 PM (No. 1436448)
If you happen to have a spare $249,000, you can order a Lucid Sapphire Air. Might be wonderful, but "should be operated only on smooth road surfaces .. in warm weather." Try that in Iowa.
Incidentally, it has 0-60mph acceleration time of under two seconds. That will get you from Iowa to Chicago five seconds quicker than my pedestrian old saloon. Assuming it doesn't have a "sudden power loss".
Enjoy!
1 person likes this.
Reply 13 - Posted by:
NancyD 3/29/2023 1:32:40 PM (No. 1436457)
Lucid makes beautiful cars. I'd buy one if it had a gas engine and half the price. Ha!
3 people like this.
Reply 14 - Posted by:
DVC 3/29/2023 2:04:30 PM (No. 1436470)
The name is a joke, right? Any lucid person would never purchase one of these jokes.
3 people like this.
Reply 15 - Posted by:
Zeek Wolfe 3/29/2023 2:17:07 PM (No. 1436478)
No one wants these electric turkeys. Look for other electric car companies to fail including big names like Ford. You own Ford stock? Get rid of it, now!
2 people like this.
Reply 16 - Posted by:
Msquared112 3/29/2023 3:44:16 PM (No. 1436552)
Whenever someone in power says they are “laser focused” on anything, run.
2 people like this.
Reply 17 - Posted by:
Califedup 3/29/2023 5:11:21 PM (No. 1436624)
Go Woke EV go broke. Lucid Motors - What an ironic name.
2 people like this.
Reply 18 - Posted by:
MickTurn 3/30/2023 12:09:37 PM (No. 1437231)
Yet Another Leftist SCAM!
1 person likes this.
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Another company that Biden touted as "the future" is going south. I'll bet there's government money involved, no joke!