Peter Rawlinson will stay on as a “strategic technical advisor.”
Lucid Motors founder and CEO Peter Rawlinson will step down, as the luxury EV company sets its sights on doubling production over the next year.
Rawlinson won’t be leaving the company. Instead, he’ll be assuming the role of “Strategic Technical Advisor to the Chairman of the Board,” the company said. Chief operating officer Marc Winterhoff will serve as interim CEO while the board initiates a search for a new chief executive.
“Now that we have successfully launched the Lucid Gravity, I have decided it is finally the right time for me to step aside from my roles at Lucid,” Rawlinson said in a statement. “I am incredibly proud of the accomplishments the Lucid team have achieved together through my tenure of these past twelve years. We grew from a tiny company with a big ambition, to a widely recognized technological world leader in sustainable mobility. It has been my honor to have led and grown this remarkable, truly world-class organization, because Lucid has always been first and foremost about a team effort.”
“I have decided it is finally the right time for me to step aside from my roles at Lucid.”
The leadership shuffle comes as Lucid eyes major growth for the next year. The company says it expects to sell 20,000 vehicles in 2025, nearly double the 10,241 EVs it delivered in 2024. The updated guidance was announced as part of the company’s fourth quarter earnings. Lucid reported a net loss attributable to common stockholders of $636.9 million for the three month period ending December 31st.
Lucid said it earned $234.4 million in revenue for the fourth quarter, on top of $807.8 million for the entire year. The company lost $3.06 billion attributable to common stockholders in 2024, and ended the year with $6.13 billion in total liquidity.
Doubling production will be a tough feat for Lucid, with most analysts predicting that EV share of the retail market to remain flat this year. Its especially tough for a luxury EV company like Lucid, with most of the growth taking place in the mass-market segment. But Lucid has high hopes for its Gravity SUV, which just started its first customer deliveries late last year. The company says it plans on gradually ramping up production during the year.
Lucid said the SUV would get up to 440 miles of range, offer 800 horsepower, and accelerate 0–60 mph in under 3.5 seconds. The Gravity will also be the first vehicle from Lucid to come with a native NACS charging port that’s compatible with Tesla’s Supercharger network.
Lucid is backed by Saudi Arabia’s Public Investment Fund, which invested $2.5 billion in the company in 2024. The money has helped the cash-losing EV maker from heading down a similar path as some of its less financially stable peers.
