As Lucid’s sales continue to slump and the stock continues to plummet, the company is looking for outside help to right the ship.
According to the Financial Times, the company has engaged AlixPartners to “improve execution, strengthen operations and position Lucid to realize the full potential of its technology, products and innovation”.
AlixPartners is not a new name in the automotive industry. The company worked with General Motors in 2009 on the car giant’s Chapter 11 bankruptcy and reorganization
The climb is certainly going to be uphill as the company has posted back-to-back $2.7 billion losses in 2024 and 2025. Before last week’s stock volatility, the company’s stock had fallen 48 percent from its all-time high.
With the current setup, Lucid is losing hundreds of thousands per car delivered and had an adjusted free cash flow of negative 1.4 billion in Q1 of 2026. Per industry reports, Lucid will need to secure more than $6 billion in outside investment to stay afloat by 2030.
Even before AlixPartners came on board, Lucid began making stabilizing moves. The company reduced its staff, with 12% of its workforce laid off in February and a further 18% in June. In addition to the staff reduction, Lucid appointed Silvio Napoli as its new Chief Executive and replaced its Chief Financial Officer.
It is unclear what route AlixPartners will suggest for the struggling automaker, but according to sources, bankruptcy is not currently on the table.
In addition to this news, the company has also sent a cease-and-desist letter to EV CARBA regarding its reports that the company was considering bankruptcy or a take-private transaction. The news caused the company’s stock to crash on Tuesday.
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