Lucid's new CEO says the EV maker launched cars before they were ready and let customers down
Lucid Motors CEO Silvio Napoli announced that the company will delay its upcoming midsize vehicle, the Cosmos, until 2027 to prioritize quality. The company admitted that previous vehicle launches were rushed and suffered from software and service issues.
Why it matters
This strategic pivot reflects the intense pressure on EV startups to balance rapid innovation with the rigorous quality standards required for long-term viability.
Lucid said it's holding back the launch of its third model after its CEO said the first two launches were too shoddy Lucid Lucid's new CEO, Silvio Napoli, said the car company launched vehicles before they were ready. He's changing how the EV maker launches vehicles, and pushing back the midsize Cosmos to 2027. Lucid's two vehicles — the Gravity and the Air — have struggled with software issues. Lucid Motors has a new CEO — and he has a blunt new assessment of what's gone wrong at the EV maker. During an earnings call on Tuesday, Silvio Napoli, the company's chief executive since June, said the automaker has "disappointed on several fronts and for far too long." The company reported a net loss of more than $1 billion in the quarter. "We have not executed consistently," he said.
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