Lucid (LCID.US) shares once surged more than 12%! CEO says restructuring advisor collaboration has concluded, and a roadmap to profitability is emerging.

Lucid Group Inc. (LCID.US) Chief Executive Officer said the electric-vehicle maker has wrapped up work with its restructuring advisory team, a sign the struggling company has a clearer path toward turning around its operations. The engagement with consulting firm AlixPartners LLP has ended, CEO Silvio Napoli said in an interview Thursday. The company had brought in AlixPartners to help meet its goal of $1.4 billion in cash savings this year. Napoli has been conducting an operational review of the company, seeking to streamline the business, cut costs and ensure the launch of its new midsize vehicle goes smoothly. "It's an exciting time, and the bitter medicine has to start early," Napoli said. Lucid shares rose more than 12% at one point Thursday intraday, the biggest single-day gain since late July, when Saudi Prince Alwaleed bin Talal Al Saud disclosed a stake in the company. At the close, Lucid shares were down 59% year to date. After a turbulent 2025, the automaker is still navigating a difficult demand environment. The year brought a series of upheavals, including production challenges, supply shortages and major shifts in trade and EV policy during the Trump administration. Meanwhile, oil prices have surged as the war with Iran drags on, potentially creating an opening for Lucid to attract consumers who start paying attention to fuel economy. The company is also looking to expand vehicle sales into the growing global robotaxi market. Napoli, who took the helm at Lucid earlier this year, has already implemented large-scale cost cuts, leadership changes and layoffs to contend with soft US consumer demand. On Wednesday, Lucid also announced an agreement with European ride-hailing company Bolt to deploy at least 25,000 autonomous vehicles in European cities, relying on Lucid's upcoming midsize vehicle platform. It's Lucid's second major partnership in the ride-hailing space. The EV maker announced in April that it had partnered with Uber Technologies, Inc. (UBER.US) and Nuro to deploy autonomous Lucid Gravity SUVs and midsize autonomous models on the Uber Technologies, Inc. platform.