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Lucid further increased its inventory in the second quarter. While the company delivered 3,953 battery-electric vehicles, it produced 4,774. In the first quarter, the gap was even wider: from January to March, Lucid produced 5,500 vehicles but handed over only 3,093. The company will disclose how these figures affect its financial results on 4 August, when its Q2 and half-year financial results are scheduled for release.
In parallel, the manufacturer has announced a comprehensive reorganisation of its leadership team. According to the company, the number of direct reporting lines to the new CEO Silvio Napoli will be halved. The goal is to create a leaner organisational structure, clearer responsibilities, and faster implementation of strategic decisions. “We are simplifying the organization, strengthening leadership, enforcing accountability and aligning our structure with the priorities that matter most: customers, quality, and innovation,” explains Napoli.
As part of this realignment, Lucid has filled several key positions. Alexander De Bock takes over as Chief Financial Officer – succeeding Taoufiq Boussaid, who will leave the company after a transition phase. Raja Ramana Macha is appointed as the new Chief Technology Officer, while Billy Hayes assumes the role of Chief Customer Officer, overseeing sales, service, marketing, and the regions of the USA, the Middle East, and Europe. Additionally, Lucid has created the new position of Chief Transformation Officer, filled by Hugo Martinho. Kay Stepper, as President of the new business unit Lucid Technologies and Chief Digital Officer, will be responsible for robotaxi projects, artificial intelligence, autonomous driving, driver-assistance systems, and IT. Meanwhile, Christian Appel has been promoted to Vice President of Programme Management, where he will oversee the management of vehicle programmes and the product portfolio.
The personnel changes are part of the restructuring under CEO Silvio Napoli, who took over the top position in early June. Just days ago, Lucid announced plans to cut a further 18 per cent of its workforce and discontinue the second shift at its AMP-1 plant in Arizona. These measures aim to better align the company’s production capacity with demand and reduce annual fixed costs. Lucid – currently offering the premium models Air and Gravity – continues to struggle with low production volumes and high losses. Key growth drivers are expected to be its planned mid-range models and the robotaxi collaboration with Uber.