Lucid Motors is changing its CEOs for the first time in nearly six years. The latest news coming from Peter Rawlinson and he is stepping down from the CEO and the CTO roles. Rawlinson also left Lucid’s board, according to news of the regulatory filing.
Now Lucid appointed its chief operating officer Marc Winterhoff as its interim CEO. Rawlinson will go on to serve as “strategic technical advisor” to Turqi Alnowaiser. Turqi Alnowaiser is a chairman of the board and also comes under the top executive at the Saudi Arabia Sovereign Wealth Fund. The Lucid is the majority owner.
Leadership changes come at a critical time for lucid motors. It just launched its Gravity SUV late last year. Lucid Motors has high hopes for the electric SUV. This is the company’s first vehicle. Air Sedan has struggled to come anywhere near the sales target it once projected while publishing it in 2021. The gravity is still in the process of being slow and rolled out the early customers. The employees and the other people are close to the company.
“Now that we have successfully launched the Lucid Gravity, I have decided it is finally the right time for me to step aside from my roles at Lucid,” Rawlinson said in a statement. “I am incredibly proud of the accomplishments the Lucid team have achieved together through my tenure of these past twelve years. We grew from a tiny company with a big ambition, to a widely recognized technological world leader in sustainable mobility.”
Rawlinson settled in the advisor role until February 2027. They will also accept a “monthly payment of $120,000 for services rendered,” along with a complimentary Lucid EV.
A regulatory filing lists several benefits. That also includes health insurance and a $2 million stock grant.
When Rawlinson joined Lucid Motors in 2013, the company was still known as Atieva. Its main goal was to manufacture battery packs and other parts for EV powertrains. Elon Musk, the CEO of Tesla, has made repeated attempts to conceal the fact that he was previously working there as the chief engineer of the Model S automobile.
Lucid revealed Rawlinson’s transition along with its 2024 fourth-quarter and year-over-year financial results.