Lucid Motors’ CFO is out as its new CEO continues leadership shakeup

Lucid Motors is on the verge of releasing a smaller SUV called Cosmos, which, at an expected price of around $50,000, could be its first mass-market hit. At the same time, Lucid is working with autonomous vehicle tech company Nuro and ride-hail giant Uber to create a luxury robotaxi service that is supposed to launch in San Francisco later this year, and potentially expand to Houston in 2027.

Lucid Motors has said the restructuring is meant to “simplify the company, sharpen execution, and position Lucid to become more competitive over time,” though it hasn’t said whether any of its plans will be affected.

“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 on Thursday. “The caliber of leaders who are joining the Lucid leadership team is a testament to the inherent value of our business and to the exciting prospects ahead of us. We are building a new team who will transform the company.”