Posted on 05/26/2024 2:01:07 PM PDT by rktman
Electric vehicle (EV) maker Lucid Motors announced that the company would be laying off staff in a bid to lower expenses amid a slowdown in the market.
The layoffs will affect 6% of its workforce, equating to around 400 employees, and will trim from all employee levels, including leadership and mid-level management, according to a filing submitted Friday with the Securities and Exchange Commission (SEC). Lucid is one of several EV makers to announce layoffs in recent months as consumers decline to adopt the product at the rate expected.
The company estimates that it will have to pay out between $21 million and $25 million in severance pay and benefits in connection with the layoffs, according to the filing. The planned terminations are expected to be done by the end of the third quarter.
(Excerpt) Read more at dailycaller.com ...
The problem is the rats subverting the natural market forces with tax money on one side and relentless ever increasing Government regulations meant to end ICE vehicles on the other side.
Forty-five minutes to an hour from town on good weather days, low pay, no nearby housing, etc. As the picture shows, it is in the desert mountains. I wonder if they will hire Americans this time or once again skip them in favor of cheap foreign labor like they did in the past?
Why can’t the government mandate that all federal employees buy EVs?
Hey, maybe they can store the hazardous waste in Yucca Mountain in place of the nuclear waste that some folks want moved?
More like slow down in subsidies. Never has been a real market.
More like slow down in subsidies. Never has been a real market.
“What’s the deal with cobalt. “
Tesla is going cobalt-free.
No fire in your photo
*/
the california experiance is battery farms burning for weeks...
so its more like fire watchers than fire fighters.
They fight, they don’t always win...
“very few will be buying a replacement EV”
The UCD study ... Those who owned EVs from Tesla and GM were most likely to stay with electrics, while those most likely to give them up were driving models from Fiat (which has since discontinued the Fiat 500e in the U.S., and never made it available in Canada), Toyota, and Ford.
Lucid sold 6000 cars last year. Less than 1 car for every employee. They are Saudi backed so their pride will win out over common sense and they will continue to lose millions for infinity.
/-) !
Touché
i stand corrected .
( 6yr wildfire usfs/blm handcrew )
I agree that EVs are not the answer but they will be violently forced upon us and none will resist.
What is a GREAT way to waste taxpayers’ hard-earned money?
“Forty-five minutes to an hour from town on good weather days,”
23 minutes from Sparks
Maybe Tesla and the others building out there could build a lightrail, electric of course, between their work places and Reno and Sparks?
Workers earning the lowest wages will see their hourly pay increase to $22 from $20 an hour, while top earners will see their pay increase to $34.50 from $30.65. The electric vehicle maker will also “streamline” its wage levels; workers currently making between $26.20 and $30.65 per hour will see their pay adjusted to $34.50 an hour, according to CNBC.
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