Lucid's Top Engineer Departs The EV Startup As New CEO Takes Over

Emad Dlala, Lucid's senior vice president of engineering and software, departed the electric vehicle startup this week, according to a TechCrunch report. Dlala's departure follows the appointment of Peter Rawlinson as the new CEO of Lucid. Rawlinson, who previously served as Lucid's CTO and CEO, took over the leadership role from Ted Tappen, who had been acting CEO since July 2023. Dlala had been a key figure in Lucid's engineering and software development efforts. The company has faced production challenges, delivering 8,298 vehicles in 2023, falling short of its initial target of 10,000. Lucid's stock has also seen a significant decline, trading at approximately $2.75 per share as of early March 2024, down from highs of over $60 in 2021. The company announced in February 2024 that it would receive a substantial investment of up to $1 billion from Saudi Arabia's Public Investment Fund (PIF). This investment is intended to support Lucid's production expansion and future development.