Lucid CEO Resigns as EV Maker Faces Production and Financial Challenges

Peter Rawlinson steps down as CEO and CTO, leaving Lucid Motors to navigate leadership changes and ambitious growth targets.

Peter Rawlinson, Lucid Motors' CEO and CTO, has resigned, transitioning to a strategic technical adviser role with no daily responsibilities.
Marc Winterhoff, the interim CEO, aims to double vehicle production, improve marketing efforts, and narrow financial losses in 2025.
Lucid plans to ramp up production of its Gravity SUV while continuing development of a midsize vehicle platform expected by late 2026.
Shares of Lucid dropped over 10% following Rawlinson's departure, with analysts expressing concerns about potential impacts on product development and funding.
Lucid is also working on a new hands-free driving system and exploring partnerships to leverage its battery technology for additional revenue streams.