
NEWARK, Calif., Jan. 28, 2025 — Lucid Group, Inc. (NASDAQ: LCID), an electric vehicle manufacturer, today appointed Taoufiq Boussaid as its new Chief Financial Officer, effective February 25, 2025. Gagan Dhingra, the interim CFO, will transition to Senior Vice President, Finance and Accounting, and continue as Chief Accounting Officer, reporting to Mr. Boussaid.
According to Lucid’s CEO and CTO, Peter Rawlinson, Mr. Boussaid’s appointment comes at a crucial time as Lucid expands Gravity SUV production and works towards its strategic objectives. Mr. Boussaid’s extensive experience in strategic finance and operational restructuring will be vital in scaling operations for upcoming midsize vehicle launches. Mr. Rawlinson also expressed gratitude to Mr. Dhingra for his interim leadership.
Mr. Boussaid will concentrate on aligning Lucid’s strategic, operational, and financial processes to boost profitability and growth, ultimately increasing shareholder value. His 53 years of experience include serving as Group Chief Financial Officer of N.V. Bekaert S.A. in Belgium (July 2019 to October 2024), where he oversaw financial restructuring, efficiency improvements, and debt reduction. He also held various finance roles at Bombardier Transportation, including Vice President Finance for EMEA and Asia Pacific, and managed operational responsibilities in France and North Africa. His career also includes finance positions at United Technologies Corporation and Ernst & Young Global Limited in France, and The Coca-Cola Company in the United States.
About Lucid Group
Lucid (NASDAQ: LCID), a Silicon Valley technology company, designs and manufactures advanced electric vehicles. The Lucid Air and Lucid Gravity models offer high performance, stylish design, spacious interiors, and exceptional energy efficiency. Lucid’s Arizona factory produces both vehicles. The company is committed to innovation in EV technology.
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Forward-Looking Statements
This press release contains forward-looking statements, as defined under the Private Securities Litigation Reform Act of 1995. These statements, which may use terms like “estimate,” “plan,” “project,” “intend,” “will,” “expect,” “anticipate,” “believe,” or similar expressions, involve uncertainties and risks. These include statements about the timing of Mr. Boussaid’s appointment and Lucid’s production and business plan execution. Actual results may differ materially. These forward-looking statements are subject to numerous risks and uncertainties, including those detailed in Lucid’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, and other SEC filings. Materialization of these risks or inaccuracies in Lucid’s assumptions could lead to significantly different results. Additional unknown or currently immaterial risks could also affect results. Forward-looking statements reflect Lucid’s views as of today’s date. While Lucid might update these statements later, it has no obligation to do so. Therefore, undue reliance should not be placed on these forward-looking statements.
SOURCE Lucid Group