Lucid Motors reshapes leadership and rolls out sub‑$50,000 Cosmos SUV

Lucid Motors announced a major internal restructuring weeks after a wave of layoffs that cut 18% of its workforce in June. New CEO Silvio Napoli replaced former CFO Taoufiq Boussaid and installed a new chief technology officer, chief customer experience officer and chief transformation officer. Kay Stepper, who previously led the autonomous‑driving unit, was promoted to head Lucid Technologies and digital. The company says the changes will simplify its structure, increase accountability and improve execution as it seeks profitability.

At the same time, Lucid unveiled its next model, the Cosmos SUV, targeting the premium mass market with a price below $50,000 for base versions. The vehicle will feature a streamlined interior with a single central screen, a lighter Atlas powertrain expected to cut weight by 23%, and a 69 kWh battery delivering about 480 km of range. By offering a lower‑cost electric SUV, Lucid aims to boost sales volumes and compete directly with the Tesla Model Y, Rivian R2 and other upcoming premium EVs.