News Summary

Lucid Motors is undergoing significant leadership changes with the departure of its chief engineer, Eric Bach, after a decade-long tenure. Bach, who also served as the Senior Vice President of Product, is leaving the company amidst a widespread executive shakeup. The Vice President of Quality, Jeri Ford, is also retiring, and James Hawkins, Vice President of Engineering, has left the company. Emad Dlala, previously the Senior Vice President of Powertrain, has been promoted to oversee all engineering and digital operations. These changes occur as Lucid Motors launches its luxury SUV, the Gravity, and plans a mid-sized vehicle priced around $50,000 for 2026. The company is also securing financial stability with its majority owner, Saudi Arabia’s sovereign wealth fund, increasing a loan agreement to nearly $2 billion, providing liquidity until 2027.