Lucid Denies Reports on Take-Private or Bankruptcy Plans
Lucid Group has denied media reports suggesting it is considering a take-private deal or filing for Chapter 11 bankruptcy, calling the claims 'completely false.' The company stated that it maintains sufficient liquidity to support operations into next year and confirmed no special board committee was formed to explore such options. Lucid also announced restructuring efforts under new CEO Silvio Napoli aimed at improving execution and reducing costs.
Tickers: $LCID
Topics: executive leadership liquidity statement Lucid Group restructuring