People test drive Dream Edition P and Dream Edition R electric vehicles at the Lucid Motors plant in Casa Grande, Ariz., on Sept. 28, 2021. Caitlin O’Hara/ReutersElectric vehicle maker Lucid Motors is cutting 18 percent of its U.S. workforce as part of a cost-saving plan.The Saudi Arabia-backed company disclosed the layoffs on Monday in a filing with the Securities and Exchange Commission, saying the reductions are expected to generate annualized cost savings of about $158 million.
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