Lucid Motors has delayed the launch of its midsize EV, the Cosmos, to 2027, according to the company’s new CEO, Silvio Napoli. The vehicle was initially planned to launch in late 2026.
Napoli stated that he does not want to rush the model into production before it’s ready, as the company has done in the past. This decision comes amid a broad review of Lucid’s business, which has included deep job cuts and an overhaul of the executive suite.
The Cosmos EV is key to scaling up Lucid’s vehicle sales and bringing in more revenue. The startup has targeted early 2027 for the start of production at its factory in Saudi Arabia, with plans to ramp up production in the second half of that year.
Napoli said the factory is still taking shape, and the company continues to test prototypes and build out its supply chain. He also stated that he did not want to repeat the mistakes of the past by bringing a product to market before it is ready.
The Lucid Air and Gravity have both suffered from quality issues, particularly software bugs. Napoli called the midsized EV “one of our must-wins.” He said, “Our objective is clear: Midsize will launch only when every process and quality requirement have been met.”
Lucid has admitted to several shortcomings, including not executing consistently, underinvesting in service, and responding too slowly to quality issues. The company has also allowed complexity to slow decision making.
Related: Australia’s cheapest electric SUVs revealed
Silvio Napoli has embarked on a deep and broad turnaround plan since joining the company as CEO in June. He has remade the C-suite, cut about 18% of the automaker’s staff, and identified $1.4 billion in savings for this year.
Lucid has enough liquidity—$3 billion—to last it into 2027. The company is also looking to cash in on electric vehicles by supplying Gravity SUVs that will function as robotaxis on the Uber platform starting later this year.
In the second quarter, Lucid posted a net loss of just over $1 billion, more than the roughly $539 million it lost in Q2 2025. Revenue increased to $405 million. The company expects production in Q3 and Q4 to be below Q2 levels, when it produced 4,774 vehicles and sold just under 4,000 of them.
They are focused on bringing the Cosmos and future midsize-platform EVs to market. With its turnaround plan in place, Lucid is working to improve its financial performance and increase its revenue.
The delay of the Cosmos launch to 2027 is a strategic decision to ensure the vehicle meets the company’s quality standards. By taking the time to get it right, Lucid aims to avoid repeating the mistakes of the past and establish itself as a major player in the EV market.
