Read the memo: Tesla rival Lucid cuts 12% of its US workforce as EV winter takes hold

Source: Business Insider

Lucid launched its latest EV, the Gravity SUV, last year. Josh Lefkowitz/Getty ImagesEV startup Lucid Motors is cutting 12% of its US employees as demand for electric vehicles plummets. CEO Marc Winterhoff told staff on Friday that the cuts were necessary as Lucid tries to become profitable.