Lucid Motors restructures leadership and cuts factory shifts

Lucid Motors announced on Thursday that its chief financial officer, Taoufiq Boussaid, is leaving the company. The departure comes as CEO Silvio Napoli, who recently took over the top role, restructures the electric vehicle manufacturer. Napoli is attempting to simplify the company by cutting in half the number of direct reports to him and bringing in a wave of new executive hires. Lucid has appointed new executives to the roles of chief financial officer, chief technology officer, chief customer officer, chief digital officer, and chief transformation officer. Meanwhile, the senior vice presidents of revenue and marketing, along with the vice president of program management, are leaving the company to remain closer to their families. Napoli took over after Lucid spent more than a year searching for a replacement for Peter Rawlinson, who abruptly resigned as CEO and CTO in February 2025.

The leadership shakeup follows a period of market difficulties for the company. Lucid has struggled to find the kinds of large markets for its electric sedan and SUV that it promised would exist when it went public in 2021. That public debut occurred via a reverse merger—a transaction where a private company goes public by acquiring an active public company—with a special purpose acquisition company (SPAC), which is a shell company created solely to raise capital through an initial public offering to acquire an existing business. To address these market challenges, Lucid is eliminating a second shift at its manufacturing factory in Arizona. This operational cut follows hundreds of job cuts announced last month. The restructuring and layoffs are expected to save Lucid about $158 million annually as the company attempts to align its production plans with anticipated demand. “We are simplifying the organization, strengthening leadership, enforcing accountability and aligning our structure with the priorities that matter most: customers, quality, and innovation,” Napoli said in a statement.

Despite the operational tightening, Lucid is pushing forward with its product pipeline. The company reported delivering 3,953 vehicles in the second quarter. Lucid is on the verge of releasing a smaller SUV called Cosmos, which could have an expected price of around $50,000. Additionally, the company is working with autonomous vehicle technology partner Nuro and ride-hail partner Uber to develop a luxury robotaxi service. The service is supposed to launch in San Francisco later this year, with plans to potentially expand to Houston in 2027.

Why it matters

Lucid is attempting a major pivot under new leadership to stabilize its business model, as it struggles to find the market scale it promised when it went public.