Lucid Ceo Steps Down, Company Expects to More than Double Vehicle Production This Year
Lucid Group's vehicle production is expected to more than double this year, with the company forecasting 20,000 vehicles, compared to around 9,000 cars made in 2023. The company has also reported a narrower quarterly loss of $397.2 million, beating Wall Street expectations. The success of its SUV model, Gravity, is seen as crucial to Lucid's long-term outlook.
- The transition of Peter Rawlinson, who helped launch the Air models and guided the company through its public offering, may have been influenced by the company's struggles with underperformances.
- How will the new CEO, Marc Winterhoff, navigate Lucid's challenges in increasing production while maintaining profitability, especially given the uncertainty surrounding EV demand in the US?