US electric-car maker Lucid plans to cut 400 jobs

Corporate developments

Lucid wants its employees to stay focused on selling more Lucid Air sedans, observe strong cost discipline and stay on track to put Gravity SUV into production by end 2024

In a restructuring plan aimed at optimizing operating expenses, US-based electric-car maker Lucid Group has decided to reduce its employee workforce by about 400 employees or about 6% of its total headcount, the company said in a regulatory filing on May 24.

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