Lucid hires restructuring adviser AlixPartners to review company

Lucid Group Inc. has reportedly engaged AlixPartners, a well-known restructuring and turnaround consultancy, to assist with a company-wide review and potential restructuring efforts, according to a source familiar with the matter. This move comes amid a broader leadership overhaul under newly appointed CEO Silvio Napoli, who has already reduced the U.S. workforce by 18% and replaced most of the executive team.

Lucid, which currently offers only two models—the Air and the Gravity—has struggled with production and sales alignment, delivering 3,953 vehicles in Q2 2026 against 4,774 produced. The company reported a net loss of approximately $3.8 billion for 2025 on a GAAP diluted basis. Despite ending the year with $4.6 billion in liquidity, Lucid has drawn an additional $800 million from a credit line backed by PIF.

Napoli has emphasized a shift toward leaner operations and demand-driven production. The company’s upcoming midsize SUV, the Cosmos, is expected to be a key factor in its turnaround strategy, with production slated for late 2026. Investors will be watching Lucid’s first-half 2026 financial results, scheduled for release on August 4, to gauge progress on turnaround.