Lucid Motors has delayed the launch of the Cosmos, its cheapest electric vehicle to date, by almost a year to the second half of 2027. New chief executive Silvio Napoli made the decision to avoid repeating the quality and software problems that have dogged the company's existing models, saying Lucid "will not repeat the mistakes of the past by bringing a product to market before it is ready." The delay matters because Lucid has struggled to move beyond a niche customer base for its premium vehicles, and the sub-$50,000 Cosmos had been positioned as key to reaching higher sales volumes.

Napoli, who took over on 1 June, has overhauled Lucid's leadership and cut costs since arriving, replacing much of the C-suite and pursuing $1.4 billion in savings by year-end. The company cut 18% of its workforce in June, on top of a 12% layoff earlier in the year, and ended a second shift at its Arizona factory due to weak demand, including for its Gravity SUV. The Cosmos, the first vehicle on Lucid's cheaper "mid-size" platform, was meant to be a turning point, but Napoli cited ongoing build-quality and software issues with the Gravity as the reason for pushing back its launch, a delay that will also affect suppliers amid reduced production volumes.