Lucid engages AlixPartners for turnaround as stock falls 50 per cent amid bankruptcy speculation

Electric vehicle manufacturer Lucid has hired restructuring consultancy AlixPartners to lead a turnaround effort, coinciding with 2,400 job cuts and a leadership restructure under new CEO Silvio Napoli. The company's stock price has dropped 50 per cent following market rumours of potential bankruptcy proceedings.

Why it matters: A Lucid collapse or major restructuring could disrupt charging infrastructure partnerships and fleet electrification programmes that depend on the manufacturer's vehicles, while creating uncertainty for CPOs serving Lucid owners or planning network expansions around the brand.