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Lucid Group shares fell after the electric vehicle maker said it was entering an operational reset and confirmed a delay to its midsize vehicle program. No updated guidance accompanied the disclosure.
Napoli suspended production expectations before the reset Silvio Napoli became Lucid's chief executive earlier this year and, among his first moves in the role, suspended the company's production expectations.
That action left Lucid without public output targets before the latest announcement arrived. The operational reset formalizes a broader reorganization.
Lucid provided no timetable for when the reset would conclude or when guidance would return.
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