Lucid Group confirmed a miss on second-quarter delivery targets and announced a change in its finance leadership on July 2, underscoring continuing management shifts at the electric-vehicle maker following the appointment of a new chief executive in April.
Finance chief transition
Alexander De Bock will take over as Lucid’s chief financial officer, replacing Taoufiq Boussaid, who has been in the role since January 2025. Boussaid will remain with the company to support the release of second-quarter results before departing. De Bock, described by Lucid as an automotive finance veteran, joins from his most recent post as finance chief at TI Automotive.
Broader executive changes
The CFO appointment is one element of a wider leadership reshuffle at Lucid. The company earlier disclosed the departure of Chief Operating Officer Marc Winterhoff last week; Winterhoff had served as interim CEO for more than a year. In April, Lucid named Silvio Napoli, the former Schindler chief, as its chief executive officer. On the same day Lucid announced the CFO change it also elevated Raja Ramana Macha to chief technology officer.
Production and delivery figures
For the quarter ended June 30, Lucid reported delivering 3,953 vehicles and producing 4,774 vehicles. These figures trailed the expectations compiled by analysts at Visible Alpha, who had forecast deliveries of 4,618 vehicles and production of 5,280 vehicles.
Operational adjustments and industry pressures
Lucid has taken several steps this year to conserve cash, including two rounds of workforce reductions and supply-chain streamlining. In May the company suspended its production forecast for 2026 while conducting a business review. The automaker has also faced supplier disruptions and shortages of raw materials such as aluminum and semiconductors, which have impeded efforts to accelerate production.
Lucid, known for its Air luxury sedans and Gravity SUVs, operates in a market where consumer demand is shifting toward lower-priced models. The company and other electric-vehicle manufacturers confront intensifying competition from established automakers and new entrants, pressure that can weigh on margins.
Summary of implications
- Leadership turnover continues at Lucid with a new CFO and additional executive changes.
- Second-quarter deliveries and production fell short of analyst expectations, raising near-term execution concerns.
- Operational actions including workforce reductions, supply-chain adjustments, and a suspended 2026 production forecast reflect efforts to preserve cash in a capital-intensive environment.