New CEO Silvio Napoli reshuffles Lucid Motors, Taoufiq Boussaid exits
Business
Lucid Motors is making big changes: its CFO Taoufiq Boussaid is out, and new CEO Silvio Napoli has brought in fresh faces for five top roles, including CFO and CTO.
The goal is to streamline how the company runs and boost performance with a tighter team structure.
Lucid plans $50,000 Cosmos SUV
After a second round of layoffs meant to save $158 million a year, Lucid managed a small bump in car deliveries but is still struggling against rivals like Rivian.
To turn things around, they are rolling out an affordable Cosmos SUV (around $50,000) and launching luxury robotaxi service in San Francisco later this year, hoping to win over more drivers and keep growing.