Lucid Motors has appointed Rainer Lang as Head of Finance for the Middle East as the EV maker prepares to begin full vehicle production at its Saudi plant by the year end.
The executive announced his new role via LinkedIn on Monday, writing that “after several years working across Europe, the Middle East and Asia, this opportunity brings me back to a region that I know well and truly enjoy working in.”
Lang joins Lucid from Siemens, where he had worked since 2009.
Most recently, he spent seven years at the health tech subsidiary Siemens Healthineers, serving as Chief Financial Officer first in Saudi Arabia and then in Taiwan.
He will be based in Riyadh, where Lucid established its Middle East headquarters in late 2024.
The California-based EV maker is backed by Saudi Arabia’s Public Investment Fund (PIF), which has invested over $9 billion in the company since 2018.
Lang joins the regional team led by Faisal Sultan, the company’s President of the Middle East region.
“Lucid is an impressive company with groundbreaking technology and strong ambitions in the region,” the executive wrote on LinkedIn. “I’m excited to contribute to the next phase of growth.”
Finance Team
Key members of the finance leadership team also include Murat Aslanoglu, who serves as Regional Director of Finance (Finance Director, Middle East) and the Director of Finance Ahmed Moawad.
He has held this founding role since the early days of Lucid’s operations in the region and continues to list it in his current professional profiles.
It is yet unclear whether Lang replaces Aslanoglu.
The team has also included Ahmed Moawad, who served as Head of Finance, Manufacturing at Lucid Motors Middle East from 2022 to 2025.
He has since transitioned to a Director of Finance role, likely with a broader global scope, as his LinkedIn profile no longer specifies the Middle East and instead refers simply to Lucid Motors.
In January 2025, Lucid named Taoufiq Boussaid as its Chief Financial Officer — more than a year after Sherry House stepped down from the role, moving to Ford Motor Company.
Speaking about the company’s Saudi commitment earlier this month, Boussaid reiterated that its backer PIF sees Lucid as a priority.
“We are a financial priority for them, but we are also [a] domestic priority for them,” Boussaid added. “I mean, we have a manufacturing facility in the kingdom, which is strategic.”
Last December, the CFO said that producing the upcoming mid-size SUV at its Saudi plant — set to begin later this year — will help avoid US tariffs on China-made parts.
Mid-Size Platform
As the company upgrades its AMP-2 plant located in the King Abdullah Economic City (KAEC), the CFO noted that upcoming production of the mid-size platform “will create jobs” and “bring new technology to the kingdom.”
Production of the first model under the platform — the Cosmos mid-size SUV — will begin late this year.
The interim CEO revealed earlier this year that the project is “on schedule,” a claim the President of Middle East Faisal Sultan echoed a few days later.
Boussaid recently revealed that the company expects the Cosmos model to see a “slow production ramp” in 2027, tempering expectations for the mid-size SUV that management has positioned as its primary catalyst toward profitability.
According to the CFO, the units produced this year will be followed by a “relatively slow ramp in 2027 and then moving towards full capacity in 2028.”
Middle East Revenue
The Middle East delivered $80.7 million in revenue during the fourth quarter — more than double the $38.4 million reported in the previous period, and the region’s strongest quarter in Lucid‘s history.
Despite a strong fourth quarter, full-year Middle East revenue of $163.6 million was down 15.7% from $194.1 million in 2024 — a decline driven almost entirely by the collapsed Q1 figure.
Saudi Arabia accounted for $80.4 million of that total, a 112% sequential jump that suggests a large batch of deliveries — likely including fleet orders and possibly the first locally assembled Gravity units reaching customers.
While Lucid has not officially confirmed that deliveries have begun, an employee disclosed it on LinkedIn last year, as previously reported by EV.
Saudi Arabia had a full-year contribution of $161.8 million, compared with $191.1 million in the prior year.
The UAE — where Lucid operates studios in Dubai and Abu Dhabi in the UAE — generated just $1.8 million in yearly revenue.
The company’s Middle East head Faisal Sultan acknowledged that demand in the UAE had weakened after what he described as a “strong start.”
Lucid has yet to expand to other Gulf Cooperation Council markets such as Qatar, Kuwait and Oman, though interim CEO Marc Winterhoff said in May 2025 the company was “looking into Qatar and other additional markets.”
The company plans to adopt an agency sales model in new GCC countries rather than its existing direct-to-consumer approach.
US sales estimates are expected to be released on Wednesday, April 1st.
Global production and delivery figures are expected to be released by the EV maker later this week.
