Lucid Motors’ EV output falls to lowest level in almost two years

On Lucid’s second-quarter earnings call in August, Napoli spoke about why he thinks the company has failed to make a dent in the EV market.

“While there is no question that Lucid brought leading innovations and outstanding products to the market, we have disappointed on several fronts, and for far too long,” he said. “We have not executed consistently. We missed commitments, launched products before they were ready, underinvested in service, responded too slowly to quality issues, and allowed complexity to slow decisions down.”

The Cosmos’ lower price could, in theory, let Lucid access a wider market, but Napoli cautioned shareholders that rushing the new EV out could create more trouble.

“We will not repeat the mistakes of the past by bringing a product to market before it is ready,” Napoli said on the call.