Lucid Motors’ CFO is out as its new CEO continues leadership shakeup - BERITAJA

The caller CEO of Lucid Motors is continuing to restructure the institution aft announcing hundreds of occupation cuts past month: The EV shaper connected Thursday said its main financial serviceman Taoufiq Boussaid will beryllium leaving the company.

Boussaid’s pending departure comes amid a flurry of caller executive hires meant to bolster the company’s activity arsenic Lucid’s caller CEO Silvio Napoli tries to “simplify the company.”

Lucid connected Thursday said it has hired a caller main financial officer, main exertion officer, main customer officer, main integer officer, and main translator officer. Napoli is besides cutting the number of group who straight study to him successful half.

All of these changes travel conscionable weeks aft Napoli officially took complete the apical role. Lucid Motors spent much than a twelvemonth trying to find a replacement for Peter Rawlinson, who abruptly resigned arsenic CEO and CTO successful February 2025. The Saudi-owned institution has struggled to find the kinds of ample markets for its electrical sedan and SUV that it promised would beryllium erstwhile it went nationalist successful a 2021 reverse merger pinch a typical intent acquisition company.

When it announced layoffs past week, the institution said it needed to align its “production plans pinch anticipated demand.” The institution is eliminating a 2nd displacement astatine its mill successful Arizona arsenic well. The information of layoffs, its 2nd awesome workforce simplification this year, is expected to prevention Lucid Motors about $158 cardinal annually.

On Thursday, Lucid said it delivered 3,953 vehicles successful the 2nd quarter, only somewhat higher than a twelvemonth earlier — a motion that its Gravity SUV has not taken disconnected for illustration it had hoped. In contrast, different EV makers are uncovering ways to navigate the headwinds assailing the U.S. electrical conveyance marketplace correct now. Rivian, for instance, accrued its 2026 income forecast earlier connected Thursday.

Lucid Motors is connected the verge of releasing a smaller SUV called Cosmos, which, astatine an expected value of about $50,000, could beryllium its first mass-market hit. At the aforesaid time, Lucid is moving pinch autonomous conveyance tech institution Nuro and ride-hail elephantine Uber to create a luxury robotaxi work that is expected to motorboat successful San Francisco later this year, and perchance grow to Houston successful 2027.

Lucid Motors has said the restructuring is meant to “simplify the company, sharpen execution, and position Lucid to go much competitory complete time,” though it hasn’t said whether immoderate of its plans will beryllium affected.

“We are simplifying the organization, strengthening leadership, enforcing accountability and aligning our building pinch the priorities that matter most: customers, quality, and innovation,” Napoli said successful a connection connected Thursday. “The caliber of leaders who are joining the Lucid activity squad is simply a testament to the inherent worth of our business and to the breathtaking prospects up of us. We are building a caller squad who will toggle shape the company.”