Lucid CEO Rejects Bankruptcy, Take-Private Rumors Ahead Of Earnings

Lucid CEO Silvio Napoli has publicly denied recent speculation that the luxury EV maker is considering bankruptcy or a take-private transaction.

In a statement, Napoli said the reports are false and emphasized that Lucid has sufficient liquidity to continue funding its operations well into next year.

Lucid CEO Calls Rumors “False”

In a post on Lucid’s IR page, Napoli said the company typically does not respond to market rumors, but described the latest claims as serious enough to warrant a direct response.

“We generally do not comment on rumors. But the claims circulated yesterday were so far from the facts that they require a direct response.”

He went on to categorically reject speculation that Lucid’s board had explored bankruptcy or taking the company private.

“Lucid is not considering bankruptcy or a transaction to take the company private. Those reports are false. The Board did not explore either scenario. Period.”

Napoli also pointed to Lucid’s most recent quarterly filing, saying the company has enough liquidity to fund operations well into next year.

The CEO acknowledged that Lucid continues to work with outside advisors but stressed that their role is to improve operational performance rather than evaluate bankruptcy or privatization options.

“They are not advising Lucid on a take-private transaction or bankruptcy, and any suggestion that they have recommended either course of action to management or the Board is false.”

Focus Remains On Turning The Company Around

Napoli said Lucid’s leadership team remains focused on improving the company’s execution and financial performance.

“My priority is clear: turn this company around. That is where the leadership team and I are focused.”

He added that investors can expect a more comprehensive business update during Lucid’s upcoming quarterly earnings call, which is scheduled for August 4.

The statement comes amid heightened scrutiny of EV manufacturers as the industry navigates softer demand growth, changing regulatory policies, and increased competition. By issuing a direct response, Lucid appears to be seeking to reassure investors and customers that its near-term financial position remains stable while management focuses on executing its turnaround strategy.

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