Lucid Motors is moving forward with a new round of management adjustments. The company disclosed that the Chief Finance Officer, Taoufiq Boussaid, would be separated from service. Meanwhile, the new CEO Silvio Napoli is continuing the restructuring of the company, following Lucid ' s announcement of several hundred staff reductions and the restructuring of the plant ' s schedule and production plans.

Multiple executives in sync.

Lucid indicated on Thursday that the company had recruited a new Chief Finance Officer, Chief Technical Officer, Chief Client Officer, Chief Digital Officer and Chief Transition Officer. Napoli is also reducing the number of management staff reporting directly to it, with the goal of reducing this size by half.

This round of adjustments was officially taken over from Napoli by CEO only a few weeks ago. Lucid spent more than a year looking for a successor after the sudden departure of former CEO and CTO Peter Rawlinson in February 2025.

Retrenchment and plant adjustment synchronized to advance

Lucid announced a reduction last week that it was intended to align production plans with expected demand. The company will also cancel the second shift of the Arizona factory. This is Lucid's second massive lay-off this year.

According to the company, this reduction is expected to save approximately $158 million per year.

  • Retrenchment for the second major drawdown this year.
  • Arizona factory will cancel the second shift.
  • Projected annual cost savings of approximately $158 million

Limited delivery growth in the second quarter

Lucid disclosed on the same date that a total of 3953 vehicles had been delivered in the second quarter, which was only slightly higher than the same period in the previous year. It also shows that the market performance of its Gravity SUV has not yet met the expectations of the company.

In contrast, some United States electric car manufacturers are still adjusting their market strategies. The report mentions that Rivian raised the 2026 sales expectations the same day.

Bet on lower-priced car and Robotaxi

Lucid is currently preparing to launch a smaller SUV-type Cosmos, which is expected to sell at approximately $50,000. There is widespread concern that this car could help Lucid open up a larger market.

At the same time, the company is working with the auto-driving technology company Nuro and the Internet platform Uber to prepare the luxury Robotaxi service. The service is scheduled to go online in San Francisco later this year and may be extended to Houston in 2027.

According to Napoli, the objectives of the reorganization are to simplify the organization, strengthen implementation and bring the corporate structure closer to the priorities of clients, quality and innovation.

Additional information:Lucid is supported by Saudi capital. The company has been working to expand the market demand for high-end electric cars and SUVs since its listing through the SPAC merger in 2021.