Business

Lucid CEO steps down unexpectedly – Loss increases to 3.1 billion USD

Lucid loses CEO Rawlinson, struggles with deep red numbers, and hopes for a new SUV and Saudi billions.

Eulerpool News Feb 27, 2025, 6:12 AM

Peter Rawlinson, CEO of the US electric car manufacturer Lucid Motors, leaves the Saudi Arabia-funded company with immediate effect. Marc Winterhoff, previously Chief Operating Officer, will take over as interim CEO. Rawlinson, a former top engineer at Tesla, resigns amid a challenging phase: Lucid is grappling with high losses and a dramatic drop in share prices.

Winterhoff dampened expectations in light of increasing industry uncertainties. The company nevertheless hopes to regain the attention of affluent buyers with a new model range and streamlined management.

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