Lucid Group has introduced an “operational reset” aimed at lowering cash consumption and improving execution, as its second quarter 2026 results showed a higher net loss despite increased revenue.
The US electric vehicle and technology company said it has identified $1.4bn in possible cash flow improvements for 2026 across operating expenses, capital expenditure and working capital
It said the plan is built around three areas: Cash and Cost, Customer and Quality, and Culture and Team. In Cash and Cost, Lucid said it is applying tighter control over spending and capital allocation while protecting technologies and programmes it considers important to long-term competitiveness. It also said production has been intentionally reduced to align with expected demand, convert inventory into deliveries and cash, and improve working capital.
Under Customer and Quality, the company said it is assigning resources to technicians and dedicated staff in an effort to reduce customer wait times by a third this year. It also cited work covering product readiness, delivery, service response and parts availability. For Culture and Team, Lucid said it is simplifying its organisational structure to increase accountability, cutting by half the number of executives reporting directly to the chief executive and appointing experienced leaders in finance, technology, customer experience, transformation, digital and programme execution.