Lucid Motors Rejects Bankruptcy Rumors Amid Stock Volatility

Chief communications officer Nick Twork addressed the claims, stating that the firm AlixPartners, which was linked to the bankruptcy rumors, is only engaged to assist with operational improvements. The speculation gained traction because AlixPartners previously consulted for other struggling EV ventures like Lordstown Motors and Faraday Future. Twork clarified that the consulting firm has made no recommendations regarding bankruptcy to Lucid’s management or board.

Despite the denial, the company faces significant pressure. Lucid recently laid off more than 2,000 employees and eliminated a second production shift at its Arizona facility to better align output with demand. Second-quarter deliveries reached 3,953 vehicles, a marginal increase over the previous year. As the company prepares to launch its more affordable SUV, it continues to pivot toward new partnerships, including a luxury robotaxi initiative with Uber and Nuro. Shares were trading at $4.72 on Tuesday afternoon following the recovery from the morning's steep decline.