American EV manufacturer Lucid Group, backed by Saudi Arabia's sovereign wealth fund, has appointed Taoufiq Boussaid as its new CFO. In the new role, Boussaid will focus on streamlining strategic, operational, and financial processes to support the company’s growth and profitability.

Lucid Group has named veteran finance professional Taoufiq Boussaid as its chief financial officer, the electric vehicle maker said on Tuesday, more than a year after Sherry House stepped down from the role.