Struggling electric-car maker Lucid has enlisted turnaround consultants, though the company denied reports that the advisers had recommended bankruptcy, which had caused its stock to plummet. The California-based carmaker's shares dropped significantly after news surfaced that Alix Partners was evaluating options including bankruptcy or a private takeover. Lucid stated the "rumours are completely false" and confirmed it possesses "sufficient liquidity to carry its operations well into next year".

Alix Partners, experienced in Chapter 11 bankruptcies, is working with Lucid to "improving execution, strengthening operations, and positioning Lucid to realize the full potential of its technology, products, and innovation." Lucid has faced a downturn in EV demand, exacerbated by policy changes. The company reported net losses of $2.7bn in both 2024 and 2025. Despite a recent capital raise and an investment from Uber, Lucid continues to face financial challenges, losing hundreds of thousands of dollars per car sold.

Lucid delivered 3,953 vehicles in the second quarter, an increase from the previous year but below forecasts. The company recently laid off 18 percent of its workforce and appointed a new chief executive and chief financial officer. Saudi Arabia's Public Investment Fund has been a significant investor since Lucid's 2021 listing.