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Lucid Layoffs: EV Maker Trims 18% Of US Workforce; COO Marc Winterhoff Departs

In an effort to increase profitability in the face of intensifying competition, EV manufacturer Lucid Group said on Monday that it will lay off roughly 18% of its US personnel and that COO Marc Winterhoff has departed the firm. This was the company's second significant managerial move in recent months. The company's shares were down almost 4%, as reported by Reuters . The layoffs reflected the growing pressure on EV manufacturers like Lucid to control expenses as buyers move towards more affordable models and as profitability is impacted by growing competition from both established automakers and recent arrivals. ALSO READ | India's Fragmented Water Governance Raises Fiscal Risks, Warns Moody's The company, which employed over 9,000 people worldwide as of Dec. 31, 2025, stated that hourly factory workers, contractors, and full-time staff will all be impacted by the reduction. Additionally, it eliminated the second shift at its main EV production plant, the AMP-1...
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AI Summit 2026 Day 4 Highlights: PM Modi Addresses AI Impact Summit

AI Summit 2026 Highlights: Prime Minister Narendra Modi addressed global leaders at India AI Impact Summit 2026 and called to democratise artificial intelligence, making it a tool for inclusion and empowerment. "Artificial intelligence marks a transformative chapter in human history. India is not just a part of the AI revolution, but is leading and shaping it," PM Modi said in the presence of world leaders.

The inaugural session featured addresses by Union Minsiter Ashwini Vaishnaw, Tata Sons Chairman N Chandrasekaran, Anthropic CEO Dario Amodei, United Nations Secretary-General Antonio Guterres, and French President Emmanuel Macron.

The exhibition will remain closed to the general public today and to make up for the closure, the government has extended the expo by an additional day, keeping it open until Saturday, February 21.

Here are the Highlights of India AI Impact Summit 2026, Day 4:



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