Lucid Motors is changing CEOs for the first time in nearly six years. The company announced Tuesday that Peter Rawlinson is stepping down from the CEO and

Former Lucid Motors CEO Peter Rawlinson will receive $120,000 per month as an adviser to the automaker, a $2 million stock grant and a company car as part of a two-year “transition agreement,” the company said in a regulatory filing.

Lucid Group (LCID) reported market-beating results for its fourth quarter of 2024 on Wednesday, Feb. 26. In the earnings release, the company also revealed plans to produce 20,000 vehicles this year – more than double the number of units it produced in 2024.