The new CEO of Lucid Motors is streamlining the company following recent job cuts. Taoufiq Boussaid, the CFO, will be leaving as the firm hires new executives like a chief technology officer and digital officer.

The restructuring aims to simplify operations, but it also means sayonara for some senior vice presidents who are relocating with their families. Lucid's second-quarter vehicle deliveries were modest, raising questions about its market strategy.

With the launch of the Cosmos SUV and plans for a luxury robotaxi service, Lucid is trying to navigate the challenging EV landscape. CEO Silvio Napoli pledges greater customer focus amid these changes.

The layoffs are expected to save the company $158 million annually, while the Gravity SUV hasn't yet met expectations. As Lucid evolves, only time will tell if its plans will take off or face another setback.