Lucid Group Inc Stock Price, News & Analysis

Lucid Group (NASDAQ: LCID) announced a significant leadership transition as CEO Peter Rawlinson steps down from his roles to become Strategic Technical Advisor to the Chairman. Marc Winterhoff, the company's Chief Operating Officer, has been appointed Interim CEO while the Board initiates a search for a permanent chief executive.

Rawlinson's departure comes after twelve years with the company and following the successful launch of the Lucid Gravity. Under his leadership, Lucid evolved from a small startup to a recognized technological leader in sustainable mobility. The transition is part of the company's regular succession planning process.

Winterhoff will focus on ramping up production of the Lucid Gravity, preparing for the launch of three midsize platform vehicles, developing the low-cost Atlas drive unit, and implementing aggressive cost reduction measures. The company aims to position itself for long-term growth and gross margin improvement.

Lucid Motors (LCID) reported its Q4 and full year 2024 financial results, achieving production of 3,386 vehicles in Q4 and 9,029 vehicles for the full year, meeting their 2024 guidance. Vehicle deliveries reached 3,099 in Q4 and 10,241 for 2024, marking increases of 79% and 71% compared to 2023 respectively.

Q4 revenue was $234.5 million, with annual revenue reaching $807.8 million. The company reported a GAAP net loss per share of $(0.22) in Q4 and $(1.25) for 2024. Lucid ended Q4 with $6.13 billion in total liquidity and announced 2025 production guidance of approximately 20,000 vehicles.

The company also announced a leadership change, with COO Marc Winterhoff appointed as Interim CEO, while Peter Rawlinson transitions to Strategic Technical Advisor to the Chairman of the Board.

Lucid Motors has announced the availability of its Lucid Gravity SUV for Canadian customers, with the Grand Touring model starting at $134,500 CDN and the Touring version at $113,500 CDN. The Grand Touring model features dual electric motors delivering 828 horsepower and over 720km of projected range.

The vehicle offers seating for up to seven adults and nearly 3,400 litres of cargo space. Notable features include NACS charging compatibility with Tesla's Supercharger network and 400 kW fast charging capability. The Grand Touring model can charge at up to 400 kW on 1000V equipment and 225 kW on 500V architecture, adding approximately 200 miles in under 12 minutes.

The Gravity comes with six exterior color options, wheel sizes from 20 to 23 inches, and five interior themes. Standard features include two-row seating, with an optional third row available. The Comfort & Convenience Package, standard in Canada, includes auto-cinching soft-close doors, heated features, and active cabin air filtration.

Lucid Group (NASDAQ: LCID) has announced the promotion of Emad Dlala to Senior Vice President of Powertrain, effective immediately. In his expanded role, Dlala will continue overseeing powertrain development and engineering, including drive units, power electronics, batteries, and Lucid's efficiency and charging strategy.

Dlala, who has been with Lucid since 2015, has played a important role in developing breakthrough technologies for the Lucid Air and Gravity models. He brings over 20 years of engineering experience, previously serving as Senior Application Engineer at ANSYS Inc. He holds a PhD and M.Sc. in Electrical Engineering from Aalto University, Finland, and a B.Sc. from Al-Zawiya University, Libya.

Lucid Group (NASDAQ: LCID) has announced the appointment of Taoufiq Boussaid as Chief Financial Officer, effective February 25, 2025. Current Interim CFO Gagan Dhingra will be promoted to Senior Vice President, Finance and Accounting, maintaining his role as Chief Accounting Officer and reporting to Boussaid.

Boussaid, 53, brings significant public company finance experience, most recently serving as Group CFO of N.V. Bekaert S.A. from July 2019 to October 2024. His previous roles include leadership positions at Bombardier Transportation and United Technologies CEO Peter Rawlinson highlighted that Boussaid's appointment comes at a important time as the company ramps up production of the Lucid Gravity SUV and prepares for the launch of its midsize vehicles.

Lucid Group (NASDAQ: LCID) has revealed details about its Lucid Gravity SUV's powertrain and charging capabilities. The vehicle features a 450-mile EPA range and 400 kW fast charging capability. Starting January 31st, 2025, Gravity will have access to Tesla's Supercharger network across the US and Canada without requiring an adapter.

The SUV employs a 926V powertrain platform with a 123 kWh battery and features innovative charging technology that enables charging speeds up to 400 kW, adding 200 miles in under 12 minutes. The vehicle includes bi-directional charging supporting up to 80 A at 19.2 kW and features RangeXchange capability for charging other EVs.

Lucid Gravity, which began deliveries in December 2024, will be available in two models: the Touring model starting at $79,900 (late 2025) and the Grand Touring from $94,900. The company also announced plans to extend Tesla Supercharger network access to Lucid Air in Q2 2025.

Lucid Group (NASDAQ: LCID) has announced Canadian pricing for its new Lucid Gravity SUV. The Touring model will start at $113,500 CDN, while the Grand Touring model will be priced from $134,500 CDN. The Grand Touring version offers 828 horsepower and a projected range exceeding 720 kilometers.

The vehicle features nearly 3,400 litres of total cargo space, including a frunk with an optional seat for two adults when parked. Powered by in-house electric motors and a 123kWh battery pack, the Gravity accommodates up to seven adults. Orders for the Grand Touring model will open soon, with the Touring model becoming available in late 2025. The vehicle includes an optional three-chamber air suspension system for adaptive handling across different terrains.

Lucid Group (NASDAQ: LCID) and Panasonic Energy announced that the new Lucid Gravity SUV will be powered by Panasonic's latest-generation lithium-ion EV battery cells. The Gravity Grand Touring model features an EPA-estimated range of 450 miles with a battery pack 40% smaller than competitors, offering 828 horsepower and 0-60 acceleration in under 3.5 seconds.

The vehicle utilizes Panasonic's 2170 cylindrical cells with an industry-leading energy density above 800Wh/L. The Gravity Grand Touring, starting at $94,900, began production in December 2024, while the Touring model, priced at $79,900, is planned for late 2025. The SUV provides up to 120 cubic feet of cargo space and can accommodate seven adults.

Panasonic Energy has supplied approximately 15 billion lithium-ion EV batteries globally by December 2023, powering 3 million EVs without any battery-related recalls.

Lucid Group (NASDAQ: LCID) has released its Q4 2024 production and delivery figures. The company produced 3,386 vehicles and delivered 3,099 vehicles in Q4, with approximately 7% subject to operating lease accounting. For the full year 2024, Lucid produced 9,029 vehicles and delivered 10,241 vehicles, with about 5% under operating lease accounting.

The company will discuss its Q4 2024 financial results in a conference call scheduled for February 25, 2025, at 2:30 pm PT. Lucid is partnering with Say Technologies to facilitate shareholder engagement, allowing investors to submit and upvote questions between February 11 and February 23, 2025, which management will address during the earnings call.