Lucid's CEO stated on Tuesday that the company's plan to launch a more affordable electric vehicle, originally scheduled for later this year, has been postponed to the second half of 2027. Currently, the company is conducting a major business review and cutting costs as part of an 'operational reset' plan. Lucid aims to save $1.4 billion in cash this year, primarily by reducing production and inventory, following an expansion of losses in the second quarter.