LUCID ENDS RESTRUCTURING ADVISER RELATIONSHIP

Lucid has concluded its engagement with AlixPartners, the restructuring adviser that had been assisting the struggling EV manufacturer. CEO Napoli made the announcement during a Bloomberg interview. The move signals a shift in Lucid's strategy as it pursues new growth avenues. The company is advancing a partnership with mobility platform Bolt to deploy at least 25,000 fully autonomous Lucid vehicles across Europe. Lucid has faced significant financial headwinds and production challenges since going public via SPAC merger in 2021. The AlixPartners engagement represented efforts to stabilize operations amid losses and cash burn concerns. The autonomous vehicle partnership with Bolt represents a potential revenue stream outside traditional retail sales channels, as Lucid attempts to reach profitability. The deployment timeline and commercial terms of the Bolt partnership remain unclear.