New CEO Silvio Napoli is cutting spending, tightening operations and lowering production expectations as Lucid works to stabilize its EV business. Strong backing from Saudi investors and a $3 billion liquidity position give the EV maker time to execute its turnaround despite continued losses. According to EV maker Lucid, it aims to achieve $1.4 billion in cash-flow improvements by 2026. In the second quarter, Lucid reported revenue of $405 million, surpassing Wall Street expectations. Production outlookNapoli noted that the production and delivery forecasts for 2026 have weakened and will fall short of Wall Street predictions.