Exclusive: Lucid Motors’ Saudi Bet Meets Harsh Reality As New CEO Cuts Deep To Keep Cosmos Alive
Lucid Motors, majority-owned and heavily funded by Saudi Arabia’s Public Investment Fund, is undergoing a deep restructuring under new CEO Silvio Napoli as the company cuts costs to preserve runway for its mass-market Cosmos model. PIF has invested over $9 billion since 2018 and recently injected another $750 million to support the turnaround.
