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Lucid CEO steps down; EV maker plans to more than double production in 2025

Lucid Group's CEO Peter Rawlinson is stepping down as the company plans to significantly increase vehicle production in 2025 to 20,000 units.
The expected production of 20,000 vehicles in 2025 is more than double the 9,029 vehicles manufactured in 2024.
Marc Winterhoff will become the interim CEO following Rawlinson's departure.
Rawlinson will transition to a role as a strategic technical advisor to the chairman of the board, stepping aside from his previous roles.

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247wallst.com

Lucid Group Still a Wreck Despite Record Production and Deliveries

Despite Lucid Group (NASDAQ:LCID) driving higher after hours following its fourth-quarter earnings report that was released on Tuesday, Feb. 25, the stock crashed when the markets opened, tumbling 12%. Although Lucid beat analyst expectations for the quarter, the results still paint a messy picture of a luxury electric vehicle (EV) maker struggling to live up to its hype. While Lucid has some bright spots, the risks are crushing, and its future…

5 days ago·New York, United States

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Fortune

Resignation of Lucid Motors' veteran CEO spooks investor fear of new product delays

Bank of America downgraded the stock and slashed its price target by two-thirds after learning that Peter Rawlinson stepped down as CEO and CTO.

5 days ago·New York, United States

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The US Sun

Lucid Motors CEO announces huge change after 12 years as car production doubles

LUCID Motors CEO Peter Rawlinson has suddenly stepped down after 12 years in an unexpected move for the electric vehicle maker. The bombshell decision comes as the company ramps up vehicle production, targeting 20,000 cars in 2025 – more than double last year’s numbers. GettyFormer Lucid Motors CEO Peter Rawlinson speaking during a Bloomberg Television interview in London on December 10, 2024[/caption] GettyLucid is facing an overhaul of the com…

5 days ago

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Jalopnik

Lucid Boss Quits After Company Loses $300,000 For Every Car Sold Last Year

Lucid is burning through cash at an alarming rate as it tries desperately to avoid the same fate that hit defunct automakers like Canoo and Nikola.

5 days ago

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The Verge

Lucid’s CEO steps down, as EV maker aims to double production

Lucid CEO Peter Rawlinson is stepping down as the company predicts a new phase of growth.

5 days ago·United States

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breakingthenews.net

Lucid CEO resigns, search for new chief underway

Lucid Group, Inc., an electric vehicle manufacturer, revealed on Tuesday in a statement that CEO Peter Rawlinson has stepped down from his position, switching to the role of strategic technical adviso...

5 days ago

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