EVwire brief: AlixPartners says it never advised Lucid on a bankruptcy filing or a take-private transaction, and was never even asked to.
The restructuring firm's statement, dated July 16, echoes language from Lucid's own 8-K filing with the SEC and was recirculated on X by Lucid Chief Communications Officer Nick Twork.
‘AlixPartners' engagement for Lucid is focused on ‘improving execution, strengthening operations, and positioning the Company to realize the full potential of its technology, products, and innovation.’
“AlixPartners has not provided, and has not been asked to provide, any advice to Lucid with respect to either a bankruptcy filing or a take-private transaction.”
Nick Twork shared AlixPartners’ statement in a post on X.
Context:
This is the second public denial issued this week regarding reports that Lucid was considering a Chapter 11 bankruptcy filing or a take-private transaction. The report was posted by EV, which cited anonymous sources.
Lucid said the claims were "completely false," adding that it had sufficient liquidity to fund operations well into next year, had not formed a special board committee to evaluate those scenarios, and that AlixPartners had not recommended bankruptcy to management or the board. Lucid CEO Silvio Napoli also doubled down and stated that the publication’s report was false.
Lucid later escalated its response by issuing a cease-and-desist letter to EV, arguing that the report contained allegations that harmed the company and its shareholders. EV, for its part, has stood by its reporting.
Source: AlixPartners
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