• Lucid plans to lay off about 400 employees due to downturn in electric vehicle market

    Documents submitted to regulators by U.S. electric vehicle manufacturer Lucid on Friday (24th) showed that the company will lay off about 400 people in the next few months, accounting for about 6% of the total number of employees. It is expected to be completed in the third quarter, including restructuring. The cost is approximately US$21 million to US$25 million. The move is Lucid\’s latest austerity measure amid a sharp slowdown in the electric vehicle market.