Lucid Motors has unveiled its plan for survival, with a $1.4 billion cash-saving strategy and new priorities including robotaxis and a Saudi factory.

The turnaround under CEO Silvio Napoli aims to cut costs by $500 million in capital expenditures, reduce inventory savings of between $600 million and $800 million, and slash operating expenses by $200 million. These measures should provide liquidity until 2027.

The focus on must-win projects includes the Cosmos mid-sized EV, completion of the AMP-2 factory in Saudi Arabia, and robotaxi programs with Uber and Nuro. Lucid believes these initiatives will make it profitable beyond direct sales to consumers. The new business unit, Lucid Technologies, aims to leverage AI and digital technology for future earnings.

Despite these efforts, second-quarter financials show a net loss of $1.26 billion, with hopes pinned on the robotaxi program starting production in 2026 for a launch later that year. Lucid has already cut its workforce by 18% and eliminated a shift at its Arizona factory.