Lucid Motors CEO Peter Rowlinson withdraws

Lucid Motors has been changing CEOs for the first time in nearly six years. The company declared Tuesday, in which Peter Rowlinson retired from CEO and CTO’s roles he held before before the company became public.

Lucid has appointed his Chief Operations Officer Mark Winterhof as his intermediate CEO. Rowlinson will serve as a “strategic technical advisor” by Turqi Alnowaiser, who is chairman of the Council and Higher Executive Director at the Saudi Arabia Sovereign Fund – the majority of Lucid.

Changing leadership is coming to a critical moment for Lucid Motors, which has just started its SUV Gravity late last year. Lucid Motors has high hopes for the electric SUV. The company’s first vehicle – the air sedan – is struggling to come Anywhere near sales goals It is once projected when it became public in 2021. Gravity is still in the process of slowly unfolding to early customers, employees and other people close to the company.

“Now that we have successfully launched Lucid Gravity, I have decided that at the end is the right time to give up my roles in Lucid,” Rowlinson says in a statement. “I am incredibly proud of the achievements that the Lucid team has achieved together through its term of the last twelve years. We grew up from a small company with great ambition, to a widely recognized technological world leader in sustainable mobility. “

Rawlinson came to Lucid Motors in 2013, when he was still known as Atieva, and focused mainly on the development of batteries and other components of EV Powertrain. He was previously hired at Tesla as chief engineer of the Model S sedan – a fact that Tesla CEO Elon Musk has he has been repeatedly trying to darkenS

Lucid announced Rowlinson’s transition, along with its financial results for the fourth quarter of 2024, as well as for the whole year.

The company eventually delivered 10,241 EVS in 2024, compared to just $ 6,001 in 2023, which generated $ 808 million revenue compared to $ 595 million in 2023, but Lucid still lost a huge $ 2.7 billion Last year. He lost $ 2.8 billion in 2023

Lucid finished the year with $ 1.6 billion in cash and equivalents. It repeatedly eavesdropped Saudi Arabia for billions of funding in 2024 to help stay sailing until the start of gravity – although Rowlinson says Financial Times Last March, he thought it was “dangerous” to behave like the kingdom, it was a source of “bottomless wealth”.

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