When TechCrunch contacted Lucid for a comment on reports that it might file Chapter 11 or go private again, chief communications officer Nick Twork said those “rumors are completely false.” He then posted a statement to Twitter further denying the reports:
$LCID The rumors are completely false. The company has sufficient liquidity to carry its operations well into next year, as recently published in its last quarterly filings, and it has not formed any special Board committee to explore the scenarios reported today. Our focus is…
— Nick Twork (@ntwork) July 14, 2026
As for the claims, which CarBuzz first reported, that Lucid is currently working with AlixPartners, Twork says the nature of their business relationship has been mischaracterized. Lucid and AlixPartners are working together, yes, but the California-based EV manufacturer hired the reorganization specialists to help improve operations but “nothing else.” According to Twork, AlixPartners “has not recommended bankruptcy to management or the Board.”
That said, based on TechCrunch’s reporting, it doesn’t sound like Twork addressed EV’s claim that Lucid could also go private. But if there’s no “special Board committee” looking at potential bankruptcy options, a committee that doesn’t exist can’t consider selling the company, either. The original report doesn’t actually mention a committee, though, so it’s possible the board didn’t need a special committee to explore potential options with AlixPartners.
Read past the headline of the report, though, and it’s entirely possible neither publication is wrong. “The strategic options under review include taking the Saudi-backed EV maker private or filing for Chapter 11 bankruptcy protection,” doesn’t necessarily mean those are the only two options. And Lucid narrowing its focus while it does its best to get Cosmos production going is probably the smartest path forward, especially since newly hired CEO Silvio Napoli replaced most people in senior leadership positions after joining the company. Meanwhile, robotaxis may not generate much revenue for Uber, but that partnership involves Uber buying 10,000 Gravity SUVs, which certainly wouldn’t hurt.
If the production Cosmos takes off the way the Rivian R2 has, Lucid could soon find itself in a much stronger position than it’s in today. If it doesn’t, though, anyone on the board who’s thinking about the future would be foolish not to at least consider what they’d be forced to do following a Cosmos flop. At that point, finding a buyer or filing Chapter 11 would make more sense. For now, the biggest question appears to be whether Lucid can convince potential Cosmos buyers it’s fixed the software and the cars won’t be a nightmare to own. If it can’t, the remaining options are pretty limited.
