Lucid Group announced on Tuesday that CEO Peter Rawlinson is stepping down as the electric vehicle manufacturer aims to more than double its production to 20,000 units in 2025. Marc Winterhoff, the current COO, will serve as interim CEO while the board searches for a permanent replacement. Rawlinson will transition to a strategic technical advisor role. The leadership change coincides with the release of Lucid’s Q4 financial results, which showed a net loss of $636.9 million on revenue of $234.5 million. Despite the loss, the results surpassed analyst expectations. Lucid produced 9,029 vehicles in 2024, with deliveries reaching 10,241. The company’s shares rose about 10% in after-hours trading, although they remain down 13% year-to-date amid slower EV adoption and uncertainty over federal EV support. — news from CNBC
