Lucid Group, an electric vehicle maker, announced on Tuesday that its CEO, Peter Rawlinson, has stepped down from his role as interim leader of the company. Marc Winterhoff, the current chief operating officer, will take over as interim CEO until a new leader is appointed.
Despite the change in leadership, Lucid reaffirmed its ambitious production target for 2024, aiming to more than double its previous output to 20,000 units. The company also reported a net loss of $636.9 million, or 22 cents per share, for the period ended December 31.
Rawlinson’s departure is unexpected, given his passion and commitment to the company. He had touted his dedication to driving shareholder value, but cited a desire to “step aside” after launching the company’s second product, the three-row SUV Gravity.
The board of directors has initiated a search for a new CEO, while shares of Lucid were up 8% in after-hours trading following the announcement. The company’s production target is part of its efforts to expand its offerings and compete with other EV manufacturers.
Source: https://www.cnbc.com/2025/02/25/lucid-ceo-peter-rawlinson-steps-down-ev-maker-plans-to-double-production.html