Lucid Names Taoufiq Boussaid as CFO Ahead of Gravity SUV Production Ramp-Up

Credit: Lucid

Lucid Group has appointed Taoufiq Boussaid as its chief financial officer, the electric vehicle (EV) maker said on Tuesday, filling the role more than a year after Sherry House stepped down.

Boussaid, previously group CFO at Belgium-listed steel and coatings company NV Bekaert SA, contributed to reducing the company’s debt load from July 2019 to October 2024, Lucid said. He will assume his new role on Feb. 25.

See also: Lucid Unveils New AI Assistant, Enhancing Vehicle Interactions for Drivers

Credit: Lucid

“Taoufiq is joining Lucid at a pivotal time as we ramp up production of the Lucid Gravity SUV and accelerate our progress toward achieving our strategic goals,” said Peter Rawlinson, CEO and CTO of Lucid. “His proven ability to align financial strategy with business objectives will be critical in scaling our operations efficiently and effectively as we prepare for the launch of our midsize vehicles.”

Interim CFO Gagan Dhingra will continue as chief accounting officer and be promoted to senior vice president of finance and accounting. He will report to Boussaid, the company said.

Boussaid will receive an annual base salary of $575,000, while Dhingra’s salary will increase to $475,000 per year, according to a U.S. regulatory filing.

See also: Lucid CEO Claims Company “Most Immune” to Potential EV Tax Credit Cuts

Credit: Lucid

Lucid, which is backed by Saudi Arabia’s sovereign wealth fund, is set to report quarterly results on Feb. 25. The company recently announced that its newly launched Gravity SUV will gain access to Tesla’s Supercharger network in North America starting Jan. 31, with a built-in North American Charging Standard (NACS) port enabling direct connectivity without an adapter.

Earlier this month, Lucid reported higher-than-expected quarterly vehicle deliveries, supported by price reductions and financing incentives aimed at boosting demand.

Add a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Keep Up to Date with the Most Important EV News

By pressing the Subscribe button, you confirm that you have read and are agreeing to our Privacy Policy and Terms of Use