Lucid Group drew $400 million from its Delayed Draw Term Loan facility with Ayar Third Investment Company on August 24, 2026, bringing total outstanding debt to $1.7 billion and leaving approximately $800 million in remaining borrowing capacity. Concurrently, the company announced the departure of Senior Vice President of Finance and Accounting Gagan Dhingra effective August 14, 2026, under a separation agreement allowing him to retain his vehicle and waive tuition repayment obligations. Lucid also appointed three new leaders: Shawn Mirabal as President of North America Commercial, Mike Molino as Vice President of Finance, and Angela Zepeda as Vice President, Global Marketing. These appointments aim to strengthen commercial execution, financial discipline, and customer engagement. Lucid Group designs and manufactures premium electric vehicles.
