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**# Lucid Stock Plunges: Chief Executive Officer Resigns, Impressive Outcomes Eclipsed**
### Primary Conclusions
* Lucid Group Chief Executive Officer Peter Rawlinson unexpectedly quit after a dozen years steering the electric vehicle manufacturer.
* Rawlinson will remain as a counselor, while Chief Operating Officer Marc Winterhoff assumes control as acting Chief Executive Officer.
* The declaration overshadowed superior financial outcomes than anticipated and Lucid’s prediction to amplify output in 2025.
Lucid Group (LCID) equities decreased 11% on Wednesday observing the unforeseen departure of the opulent electric vehicle (EV) producer’s Chief Executive Officer, even as the firm intends to amplify output this year.
The producer of the Air sedan and the new Gravity sport utility vehicle revealed that Peter Rawlinson would relinquish his position as Chief Executive Officer and Chief Technology Officer, but will persist as a strategic technological counselor to Chairman Turqi Alnowaiser. Rawlinson has steered the firm for a dozen years and will be remunerated $120,000 monthly plus advantages under a two-year consulting accord. Current Chief Operating Officer Marc Winterhoff has been designated as the acting Chief Executive Officer. Toncoin (TON) Value Forecast for March 26th
“With the triumphant introduction of Lucid Gravity, I surmise the moment is opportune for me to relinquish my responsibilities at Lucid,” Rawlinson expressed.
## Lucid’s Q4 Outcomes Surpass Anticipations
The announcement overshadowed Lucid’s robust performance and outlook. The firm documented a fourth-quarter deficit of $0.22 per equity, with income up nearly 50% to $234.5 million. Both statistics were superior to the consensus approximations compiled by Visible Alpha.
Lucid manufactured 3,386 EVs in the quarter and 9,029 in 2024. The firm now foresees output of roughly 20,000 vehicles in 2025.
The firm conveyed 3,099 EVs in the quarter and 10,241 for the entire year.
Lucid Group’s stock has already forfeited over a quarter of its worth over the prior year.
