Lucid Motors CEO Peter Rawlinson Resigns Amid $2.7 Billion Loss, Interim CEO Appointed

Lucid Motors is grappling with significant challenges following the resignation of CEO Peter Rawlinson amid a staggering net loss of $2.7 billion for 2024. Rawlinson, who transitions to an advisory role, will be succeeded by COO Marc Winterhoff as interim CEO while the company seeks a permanent replacement. Despite a 49% year-over-year revenue increase in Q4 2024 and a notable rise in vehicle deliveries, Lucid's ongoing financial struggles and production setbacks remain a major concern, prompting mixed reactions from analysts. Bank of America has downgraded Lucid's stock to 'Underperform' due to uncertainties surrounding leadership and product launches, while other analysts maintain a cautious outlook. The company's ambitious goal of producing 20,000 vehicles in 2025 hinges on the successful launch of the Gravity SUV, which may reshape its market presence. As Lucid navigates these turbulent waters, investor confidence is shaken, raising questions about its future in a competitive EV landscape.