Lucid Motors’ production hits two‑year low amid CEO change and 1,500 layoffs

Lucid Motors’ production slipped to a two‑year low, with output falling 54% year‑over‑year, prompting a sweeping leadership shuffle and the layoff of 1,500 employees.

Production slump and its immediate impact

The luxury EV maker reported that monthly vehicle output dropped to 1,200 units in September, the lowest figure since early 2025. The decline reflects weaker demand in key markets and a slowdown in the rollout of the new Air model.

CEO transition and board reshuffle

Following the production dip, Lucid announced that CEO Peter Rawlinson will step down later this year, with CFO Jenna Lee slated to assume interim leadership. The board also added two new members with experience in automotive finance to steer the company through the restructuring.

Layoffs and workforce realignment

In a separate filing, Lucid confirmed a reduction of approximately 1,500 jobs, representing roughly 12% of its global workforce. The cuts will primarily affect corporate functions and non‑core engineering teams, while production staff at the Arizona plant will be largely retained to maintain output capacity.

• Focus on high‑margin models
• Streamline supply‑chain operations
• Accelerate development of next‑generation battery technology

Market reaction and outlook

Shares of Lucid fell 8% in after‑hours trading after the announcement, though analysts note that the restructuring could improve profitability if demand rebounds later in the year. The company plans to launch a refreshed Air sedan in early 2027, aiming to capture premium buyers seeking longer range and faster charging.

"We are taking decisive steps to align our cost structure with current market realities while preserving the core innovations that set Lucid apart," the company said in a statement.

For a detailed look at Lucid’s production figures and the strategic changes, see the TechCrunch coverage of Lucid Motors’ output decline.