The electric vehicle arena is littered with far more losers than winners. For every Tesla there is a Fisker, Faraday Future, Canoo, and Lordstown Motors. Many of the EV failures could be predicted early on while others put up a good fight.
However, there always seems to be a moment of no return for each of these companies. More importantly, upon further review, that point in time is easy to point out. Stereotypically, it begins with the delay or cancellation of a new product — generally fairly close to the time it was expected to arrive.
This, of course, brings us to the announcement by Lucid Motors yesterday that it is putting off the arrival of its new affordable model this fall to Fall 2027. The model would be the third in Lucid’s lineup — the fact it would be a third offering already means Lucid’s been more successful than almost any other nascent EV company.
Lucid spent much of late July fending off rumors it was meeting with financial advisers to plan for bankruptcy. However, newly appointed CEO Silvio Napoli told Reuters the company’s “reset” is designed to ensure it doesn’t “repeat the mistakes of the past.”
Product delays and bankruptcy rumors are often the precursor to end of an EV maker, which has us asking: Is this the beginning of the end for Lucid? Why or why not? Tell us what you think.
[Images: Lucid Motors]
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via Autobuzz Today
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