Rawlinson will not leave the company. Instead, he would envision the role of “a strategic technical advisor to the board chair,” the company said. Chief Operating Officer Mark Winterhoff will serve as interim CEO and the board will begin searching for a new CEO.
“Now that we have successfully launched the Bright Gravity, I have finally decided it’s the right time to leave my role in Lucid,” Rawlinson said in a statement. “I am extremely proud of the achievements that the Ming Dynasty team has achieved together throughout my tenure over the past 12 years. We have grown from a small company with great ambitions to a widely recognized technological world leader in sustainable mobility. Lucid has always been the first and foremost about the team’s efforts, so it was my honor to lead and grow this incredible, truly world-class organization.”
“I’ve finally decided that it was the right time to move away from my role at Lucid.”
Leadership shuffle will come as a big growth for next year with clear eyes. The company plans to sell 20,000 vehicles in 2025, which is expected to be nearly double the 10,241 EVs offered in 2024. Updated guidance was announced as part of our fourth quarter revenue. Lucid reported that it had a net loss attributable to common shareholders to $636.9 million for the three months ended December 31st.
Lucid said it had earned $234.4 million in fourth quarter revenues, reaching $87.8 million a year. The company lost $3.06 billion in 2024 due to common shareholders, ending the year with a total liquidity of $6.13 billion.
Double production is a tough feat for Lucid, with most analysts predicting that EV shares in the retail market will remain flat this year. It is particularly difficult for luxury EV companies like Lucid, with most growth coming from the mass market segment. However, Lucid has great hopes for a gravity SUV. This just started its first customer delivery at the end of last year. The company says it plans to gradually increase production over the course of the year.
Lucid said the SUV can reach the range of up to 440 miles, delivering 800 horsepower and accelerating 0-60 mph in under 3.5 seconds. Gravity will also be the first vehicle from Lucid to feature a native NACS charging port compatible with Tesla’s Supercharger network.
