Lucid CEO Steps Down As Company Announces Plans To Double Production Output
Lucid Motors is about to have a busy 2025. Yesterday, the automaker announced that CEO Peter Rawlinson would step down , and in the same breath, it announced plans to double production to 20,000 units.
Lucid Motors is about to have a busy 2025. Yesterday, the automaker announced that CEO Peter Rawlinson would step down, and in the same breath, it announced plans to double production to 20,000 units.
Marc Winterhoff, Lucid’s current chief operating officer, will fill the CEO chair while a replacement is found by the board. Rawlinson will step away from CEO duties into a role as a “strategic technical advisor to the chairman of the board.” Winterhoff told reporters that the move was Rawlinson’s decision, saying “It was Peter’s decision after 12 years of, let’s say, daily grind or daily activities and bringing the company where it is today… that it is time to step aside and pass the baton.”
While the move was unexpected, Rawlinson made it clear that the move was his decision, saying that he’d decided it was “finally the right time” to step aside. Lucid is gearing up to launch the Gravity SUV soon, but it has not seen significant profits to go along with its exciting vehicles so far.
Lucid reported losses in 2024, but the company’s increased output could turn the tides in 2025, if it can pull off the boost. The automaker has significant backing from the Saudi Arabian Public Investment Fund, which has kept it afloat, but it’s unclear for how much longer or how deeply the country will support it.
[Images: Lucid]
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