Lucid Halts Launch of Cosmos Midsize SUV as Part of Cost-Cutting Strategy: TDS

      Lucid has recently provided significant incentives for its Gravity SUV, as shown here.

      Josh Lefkowitz/Getty Images

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      Welcome to The Downshift, abbreviated as TDS, which is The Drive’s morning news summary presenting the key automotive headlines from around the globe.

      The Downshift offers a brief news recap with links to full articles for those wanting additional information. This is your update for Wednesday, August 5, 2026.

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      ⌚ Lucid originally aimed to launch its sub-$50,000 Cosmos midsize SUV this year, but has opted to delay both the launch and production start until early 2027, as the luxury electric vehicle maker seeks to manage expenditures and resolve issues to prevent the kind of glitches and logistical challenges experienced with initial versions of the Air and Gravity. [Reuters]

      ⚡ Porsche CEO Michael Leiters recently mentioned in a German newspaper that the electric 718 project is still a go, stating (via Google Translate) that, “For the electric 718, we have concluded that we will proceed with the model—because it is the most economically viable solution and will be an outstanding car.” [InsideEVs]

      📉 Mazda is focusing on safety and product enhancements to revive sales of its largest SUVs, the CX-70 and CX-90, which saw declines of 29% and 24% in U.S. sales, respectively, during the first half of the year. [Automotive News]

      📰 A Hyundai executive has explicitly refuted a rumor stating that the Ioniq 6 N has been canceled for the U.S., commenting that “There has been no change” in the company’s intentions regarding the high-performance electric sedan. [KoreanCarBlog]

      🆕 Toyota has officially revealed the 2027 bZ, with prices starting at $36,576 including destination fees. [Toyota]

      ⏱️ The Mercedes-AMG CLA 45 has achieved the fastest lap in a new Nürburgring category for “electric compact cars,” recording a time of 7:32.070. [CarBuzz]

      🌏 General Motors has extended its joint venture with Chinese auto giant SAIC for another 20 years, following a recent restructuring of its operations in the country. As part of this strategy, it will focus on Cadillac and Buick in China and will cease Chevrolet vehicle sales there. [Reuters]

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