NEWARK, Calif., Dec. 23, 2021 /PRNewswire/ -- Lucid Group
(NASDAQ: LCID), which is setting new standards with its advanced
luxury electric vehicles (EVs), today announced the appointment of
Gagan Dhingra as Vice President of
Accounting and Principal Accounting Officer, and Mustally Hussain
as Managing Director, Global Treasurer and Head of Financial
Services. Together, they bring decades of strategic leadership
experience in building accounting and financial functions at
various multi-national organizations.
"I am thrilled to welcome Gagan and Mustally to Lucid as we
embark on another year of unprecedented growth for the company,"
said Sherry House, CFO, Lucid Group.
"With their leadership and deep expertise, we'll be able to further
develop and maintain critical infrastructure within Lucid that will
best serve our stakeholders against the backdrop of the company's
global expansion and growing demand for its products."
Mr. Dhingra will be responsible for leading accounting, tax and
internal control functions, reporting to Ms. House. He brings with
him more than 20 years of experience in accounting and finance.
Most recently, he served as Chief Accounting Officer at Anaplan, an
enterprise software company where he was responsible for
accounting, tax, treasury, stock administration and procurement
functions. Prior to Anaplan, Gagan worked in various leadership
roles with increased responsibilities at global organizations,
including Seagate, McKesson, and Ernst & Young.
Mr. Hussain, also reporting to the CFO, will provide strategic
leadership to the Treasury, Risk and Financial Services functions,
He will be responsible for capital markets activities, banking
relationships, global cash management, financial risk management,
global insurance, and financial services including customer loans
and leases. Additionally, he will focus on working capital
management and help ensure continuous improvement of the balance
sheet and cash flow with responsibility for optimizing the
company's capital structure. Most recently, he served as Vice
President & Treasurer at Herc Holdings Inc. and in leadership
roles at Hyundai Capital America and National Grid.
About Lucid Group
Lucid's mission is to inspire the
adoption of sustainable energy by creating advanced
technologies and the most captivating luxury electric vehicles
centered around the human experience. The company's first car,
Lucid Air, is a state-of-the-art luxury sedan with a California-inspired design that features
luxurious full-size interior space in a mid-size exterior
footprint. Underpinned by race-proven battery technology and
proprietary powertrains developed entirely in-house, Lucid Air was
named the 2022 MotorTrend Car of the Year®. The Lucid Air
Dream Edition features an official EPA estimated 520 miles of range
or 1,111 horsepower. Customer deliveries of Lucid Air, which is
produced at Lucid's new factory in Casa
Grande, Arizona, are underway.
Media Contact
media@lucidmotors.com
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Forward-Looking Statements
This communication includes
"forward-looking statements" within the meaning of the "safe
harbor" provisions of the United States Private Securities
Litigation Reform Act of 1995. Forward-looking statements may be
identified by the use of words such as "estimate," "plan,"
"project," "forecast," "intend," "will," "expect," "anticipate,"
"believe," "seek," "target," "continue," "could," "may," "might,"
"possible," "potential," "predict" or other similar expressions
that predict or indicate future events or trends or that are not
statements of historical facts. These forward-looking statements
include, but are not limited to, statements regarding the Company's
expectations related to the production and deliveries of the Lucid
Air and Lucid Gravity, the performance, range, and other features
of the Lucid Air, construction and expansion of the Company's AMP-1
manufacturing facility, the promise of the Company's technology,
and the Company's ability to develop, maintain, and improve
critical processes and infrastructure. These statements are
based on various assumptions, and actual events and circumstances
may differ. Forward-looking statements are subject to a number of
risks and uncertainties, including factors discussed in the
Company's Quarterly Report on Form 10-Q for the quarter ended
September 30, 2021 under the heading
"Risk Factors," as well as other documents of the Company that are
filed, or will be filed, with the Securities and Exchange
Commission. If any of these risks materialize or the Company's
assumptions prove incorrect, actual results could differ materially
from the results implied by these forward-looking statements. There
may be additional risks that the Company does not presently know or
that the Company currently believes are immaterial that could also
cause actual results to differ from those contained in the
forward-looking statements. In addition, forward-looking statements
reflect the Company's expectations, plans or forecasts of future
events and views as of the date of this communication. However,
while the Company may elect to update these forward-looking
statements at some point in the future, the Company specifically
disclaims any obligation to do so. These forward-looking statements
should not be relied upon as representing the Company's assessments
as of any date subsequent to the date of this communication.
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SOURCE Lucid Group