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Lucid Motors has been changing CEOs for the first time in almost six years. The Company announced On Tuesday, Peter Rawlinson resigns from the CEO and CTO roles, which he has held since the public.
Lucid appointed his Chief Operating Officer Marc Winterhoff as Interim CEO. Rawlinson will act as a “strategic technical advisor” for Turqi Alnowaiser, the CEO and top executive at Saudi -Arabia sovereign WEAALT -Lucids majority owner -the majority owner of Saudi Arabia.
The change of management comes at a critical time for clear engines that only started its gravity SUV at the end of last year. Lucid Motors has great hopes for the electrical SUV. The company’s first vehicle – the air limousine – has tried to come Everywhere near the sales goals It was once projected when it went to the stock exchange in 2021. The severity is still in the process of slowly eliminating early customers, employees and other people near the company.
“Now that we have successfully launched the clear gravity, I decided that it is finally the right time for me to step on my roles at Lucid,” said Rawlinson in an explanation. “I am incredibly proud of the achievements that the clear team has achieved through my term of office of these last twelve years. We have grown from a tiny company with a great ambition to a widely recognized technological world guide for sustainable mobility. “
Rawlinson came to Lucid Motors in 2013 when it was still known as Attieva, and mainly focused on the development of Akku and other EV drive components. He was previously employed by Tesla as the chief engineer of the model’s limousine – a fact that Tesla CEO Elon Musk has repeatedly tried to cover.
Lucid announced the transition from Rawlinson in addition to his financial results for the fourth quarter of 2024 and for the entire year.
The company ultimately delivered 10,241 EVs in 2024, compared to only 6,001 in 2023. This achieved sales of $ 808 million, compared to $ 595 million in 2023. Lucid still lost a whopping 2.7 billion last year US dollar. It lost 2.8 billion US dollars in 2023.
Lucid ended the year with 1.6 billion US dollars in cash and equivalents. It repeatedly used Saudi Arabia for billions in funds during 2024 to stay afloat until gravity starts – even though Rawlinson tells that Finance times Last March that he thought it was “dangerous” to behave as the kingdom was a source of “bottomless wealth”.
This story develops …
