Lucid’s Robotaxi Push Expands With Bolt Deal In Europe — CEO Silvio Napoli Says AlixPartners Has Concluded Restructuring Work

• The vehicles will be based on Lucid’s upcoming Midsize platform.
• The companies will jointly develop vehicles capable of Level 4 autonomous driving, using Nvidia’s Hyperion platform.
• CEO Silvio Napoli told Bloomberg that Lucid’s work with restructuring advisor AlixPartners has concluded.

Shares of Lucid Group (LCID) gained 9% on Thursday, after the electric vehicle maker announced a new robotaxi partnership with ride-hailing platform Bolt in Europe.

The deal comes as Tesla (TSLA) and Alphabet’s (GOOG, GOOGL) Waymo push to expand their autonomous ride-hailing services, intensifying competition in the fast-growing robotaxi market.

Lucid-Bolt To Deploy 25,000 Autonomous Vehicles In Europe

The partnership will deploy at least 25,000 fully autonomous Lucid vehicles across “multiple European cities.” The vehicles will be based on Lucid’s upcoming Midsize platform.

As part of the partnership, Lucid and Bolt will jointly develop vehicles capable of Level 4 autonomous driving, using Nvidia’s (NVDA) Hyperion platform. Bolt plans to own and operate the fleet. Lucid Technologies will provide the company’s AI and autonomous-driving expertise.

“Bolt’s reach and operating expertise make it an ideal partner to scale autonomous mobility across Europe,” Lucid CEO Silvio Napoli said.

Bolt is Lucid’s second major robotaxi partnership. The company already has a U.S. program with Uber and Nuro, under which Uber has committed to deploy at least 35,000 Lucid vehicles, including Gravity SUVs and future Midsize models. Testing is underway in the San Francisco Bay Area and Houston.

CEO Says Work With Restructuring Adviser Is ‘Concluded’

Napoli told Bloomberg on Thursday that Lucid has completed its work with restructuring advisor AlixPartners.

“The work with AlixPartners has been concluded. Their work was focused on reducing costs. Our target of reducing our cash consumption by $1.4 billion was developed together with them,” Napoli said.

The carmaker hired AlixPartners in July to support its restructuring efforts as it worked to reduce heavy spending while scaling production and developing new vehicles. Lucid is targeting $1.4 billion in cash savings in 2026 through lower inventory, capital spending and operating costs.

Lucid also reduced its workforce in June, a move expected to save about $158 million annually.

Retail’s Take On LCID

Retail sentiment surrounding LCID on Stocktwits turned ‘bullish’ from ‘neutral’ over the past 24 hours.

However, one user sounded skeptical about the partnership.

LCID shares have been under selling pressure so far this year, crashing nearly 60%

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