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Struggling Lucid Misses Q2 Deliveries, Names New Finance Head
2 Jul
Summary
- Lucid missed second-quarter delivery estimates.
- Alexander De Bock appointed as the new finance chief.
- Company faces consumer shift towards lower-priced EV models.
Lucid Group has announced the appointment of Alexander De Bock as its new finance chief, following a second-quarter delivery shortfall. De Bock, who most recently led finance at TI Automotive, replaces Taoufiq Boussaid. This marks the latest in a series of executive changes at the struggling electric vehicle manufacturer.
These leadership transitions include the recent departure of Chief Operating Officer Marc Winterhoff and the appointment of Silvio Napoli as CEO in April. Raja Ramana Macha has also been named the new chief technology officer. The company delivered 3,953 vehicles in the second quarter, below the 4,618 expected by analysts.
Lucid is navigating a challenging market where consumers are increasingly drawn to lower-priced electric models. The company has also faced production ramp-up delays due to supplier disruptions and shortages of critical materials like semiconductors. In May, Lucid suspended its 2026 production forecast pending a business review.
