Rawlinson received’t be leaving the corporate. As a substitute, he’ll be assuming the position of “Strategic Technical Advisor to the Chairman of the Board,” the corporate mentioned. Chief working officer Marc Winterhoff will function interim CEO whereas the board initiates a seek for a brand new chief government.
“Now that we have now efficiently launched the Lucid Gravity, I’ve determined it’s lastly the suitable time for me to step except for my roles at Lucid,” Rawlinson mentioned in an announcement. “I’m extremely pleased with the accomplishments the Lucid workforce have achieved collectively via my tenure of those previous twelve years. We grew from a tiny firm with an enormous ambition, to a widely known technological world chief in sustainable mobility. It has been my honor to have led and grown this exceptional, really world-class group, as a result of Lucid has at all times been at the beginning a couple of workforce effort.”
“I’ve determined it’s lastly the suitable time for me to step except for my roles at Lucid.”
The management shuffle comes as Lucid eyes main progress for the subsequent 12 months. The corporate says it expects to promote 20,000 automobiles in 2025, practically double the ten,241 EVs it delivered in 2024. The up to date steerage was introduced as a part of the company’s fourth quarter earnings. Lucid reported a web loss attributable to frequent stockholders of $636.9 million for the three month interval ending December thirty first.
Lucid mentioned it earned $234.4 million in income for the fourth quarter, on high of $807.8 million for the complete 12 months. The corporate misplaced $3.06 billion attributable to frequent stockholders in 2024, and ended the 12 months with $6.13 billion in complete liquidity.
Doubling manufacturing can be a tricky feat for Lucid, with most analysts predicting that EV share of the retail market to stay flat this 12 months. Its particularly powerful for a luxurious EV firm like Lucid, with most of the growth taking place in the mass-market segment. However Lucid has excessive hopes for its Gravity SUV, which simply began its first buyer deliveries late final 12 months. The corporate says it plans on step by step ramping up manufacturing in the course of the 12 months.
Lucid mentioned the SUV would stand up to 440 miles of vary, supply 800 horsepower, and speed up 0–60 mph in beneath 3.5 seconds. The Gravity can even be the primary car from Lucid to return with a native NACS charging port that’s suitable with Tesla’s Supercharger community.