💥 Check out this must-read post from TechCrunch 📖
📂 Category: Transportation,electric vehicles,Exclusive,Lucid Motors,reorg
📌 Key idea:
Lucid Motors chief engineer Eric Bach will leave the company after more than a decade, the company announced.
Bach, who also served as senior vice president of product at Lucid Motors, has been with the company since 2015. He joins Lucid after spending three years as director of engineering at Tesla, where he worked alongside former Lucid Motors CEO and CTO Peter Rawlinson. Bach spent more than a decade at Volkswagen before Tesla.
Lucid’s VP of Engineering, James Hawkins, is also no longer with the company after spending 10 years there, TechCrunch has learned. Lucid Motors declined to comment specifically on his departure.
Bach and Hawkins’ departure is part of a broader change announced Wednesday. Jerry Ford, vice president of quality at Lucid Motors, will also retire. She will be replaced by Marnie Livergood, who comes to the company from Scout Motors.
Meanwhile, Imad Dalala, current senior vice president of powertrain at Lucid Motors, has been promoted to oversee all “engineering and digital.” Dlala has already been promoted once earlier this year, and has been with the company since 2015.
The executive shake-up comes as Lucid enters its ninth month without a permanent CEO after Peter Rawlinson abruptly resigned in February. Mark Winterhoff, the former Chief Operating Officer, has served as CEO on an interim basis since then.
The losses of Bach and Ford are the latest in a string of executive departures at Lucid Motors. The company’s head of investor relations, senior vice president of operations, managing director of Europe, and vice presidents of software quality and marketing have all departed over the past year.
The changes occur at a critical moment in Lucid Motors’ history. The company has finally launched its long-awaited luxury SUV, the Gravity, which the company expects will ultimately be more successful than the aero sedan, which it has struggled to sell.
Lucid Motors is also working on a midsize car that will be priced closer to $50,000 in 2026, though it said it will likely need to raise more money before that happens. Lucid Motors announced on Wednesday that its majority owner – Saudi Arabia’s sovereign wealth fund – has raised the maximum on the loan agreement from $750 million to about $2 billion, providing the company with liquidity through 2027.
This story has been updated with more information about the departures and the amended loan agreement announced Wednesday.
🔥 What do you think?
#️⃣ #Lucid #Motors #chief #engineer #leaves #years
🕒 Posted on 1762383797
