Lucid Motors is changing CEOs for the first time in nearly six years. The company announced Tuesday that Peter Rawlinson is stepping down from the CEO and

Bank of America downgraded the stock and slashed its price target by two-thirds after learning that Peter Rawlinson stepped down as CEO and CTO.

Lucid Motors has promised it could provide EV cars without sacrificing the high-end luxury that users long for, but where does it make these cars?

We can only speculate about what led Lucid's former CEO to step aside from the company he helped create. Was it his or the company's decision?

Lucid Group (LCID) reported market-beating results for its fourth quarter of 2024 on Wednesday, Feb. 26. In the earnings release, the company also revealed plans to produce 20,000 vehicles this year – more than double the number of units it produced in 2024.

Former Lucid Motors CEO Peter Rawlinson will receive $120,000 per month as an adviser to the automaker, a $2 million stock grant and a company car as part of a two-year “transition agreement,” the company said in a regulatory filing.

Lucid said COO Marc Winterhoff will be chief executive on an interim basis. The company’s stock rose 6 percent in after-hours trading on the news.

In a surprising move, Lucid Motors CEPO Peter Rawlinson stepped down before the Q4 2024 earnings call, as the company reported widening losses

Peter Rawlinson stepped down from Lucid, the company producing luxury electric vehicles in Casa Grande. The company saw huge losses.

Peter Rawlinson steps down as Lucid CEO after Q4 2024 losses totaling of $397 million. Marc Winterhoff becomes interim CEO.

Lucid Motors founder and CEO Peter Rawlinson will step down, as the luxury EV company sets its sights on doubling production over the next year.

In a press release, Lucid said that Rawlinson “has stepped aside from his prior roles,” and will transition to a role as senior technical advisor to the chairman of the board at Lucid, while COO Marc Winterhoff has been made interim CEO.