Lucid Group Announces Key Leadership Appointments to Finance Team; Signals Readiness for Growth in 2022

NEWARK, CA — December 23, 2021 — 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.

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