- The EV startup aims to build as many as 20,000 vehicles this year as Gravity production grows.
- Peter Rawlinson has become a Strategic Technical Advisor to the Lucid board.
- Last year, Lucid built 9,029 vehicles and delivered 10,241 to customers.
In recent years, Lucid chief executive Peter Rawlinson has become the face of the innovative electric vehicle brand, but soon after the Gravity SUV was launched, the British engineer stepped aside. Current chief operating officer Marc Winterhoff will replace him on an interim basis as Lucid’s board looks for a permanent new CEO.
Rawlinson joined Lucid in 2013, having previously served as the vice president for vehicle engineering for the Tesla Model S. He has proven instrumental in growing the company and was there when it was rebranded from Atieva in 2016 to Lucid. Despite the encouraging growth, Lucid remains a small player in the EV space but it has big plans for 2025.
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“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. “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 won’t leave the company, and will now serve as Strategic Technical Advisor to the Chairman of the Board.
Financial Results
On the same day Rawlinson stepped down as CEO, Lucid announced its full-year 2024 and fourth-quarter financial results. Last year, Lucid produced a total of 9,029 vehicles and delivered 10,241. Q4 revenue reached $234.5 million, while annual revenue topped $807.8 million, and Lucid ended the quarter with roughly $6.13 billion in total liquidity.
2025 is shaping up to be a very important one for Lucid. Production of the Gravity SUV will ramp up, and the company is aiming to produce approximately 20,000 vehicles this year. Winterhoff hasn’t said what proportion of new sales will be for the Gravity, but given the strong demand for luxury SUVs, it’s possible that it could prove to be more popular than the Lucid Air sedan.
All versions of the Lucid SUV have a huge 123 kWh battery, enough to give the Gravity an impressive 450 miles (724 km) of range. It also uses a trick 926-volt electrical architecture that supports DC fast charging of up to 400 kW.
