Lucid Motors keeps turning over the executive team. CFO Taoufiq Boussaid is out — the latest departure as new CEO Silvio Napoli restructures the company.
Napoli’s been in the top role for just weeks. He replaced Peter Rawlinson, who quit abruptly in February 2025 after Lucid spent over a year searching for a successor. And he’s moving fast.
Lucid announced a slate of new hires: a CFO, CTO, chief customer officer, chief digital officer, and chief transformation officer. Napoli is also cutting in half the number of people who report directly to him. The company’s senior VPs of revenue, marketing, and program management are leaving too.
Last month, Lucid cut 18% of its staff. It’s eliminating a second shift at its Arizona factory. That’s expected to save about $158 million annually.
The numbers tell the real story. Lucid delivered 3,953 vehicles in Q2 — barely higher than last year. The Gravity SUV hasn’t taken off the way they hoped. Meanwhile, Rivian raised its 2026 sales forecast on the same day.
Lucid’s big hope is the Cosmos — a smaller SUV expected around $50,000 that could finally give them a mass-market vehicle. They’re also working with Nuro and Uber on a luxury robotaxi service launching in San Francisco later this year, potentially expanding to Houston in 2027.
“We are simplifying the organization, strengthening leadership, enforcing accountability,” Napoli said. “The caliber of leaders joining is a testament to the inherent value of our business.”
We’ll see if it’s enough.
