I’ve to confess that I wasn’t anticipating yesterday’s Lucid Motors’ fourth-quarter earnings name to be an particularly fascinating one. The corporate has its marching orders: ramp up manufacturing of the Lucid Gravity SUV specifically, double automobile manufacturing general and transfer its groundbreaking electrical automobile expertise to a brand new class of purchaser who needs extra room than a Lucid Air sedan can provide.
The joke’s on me, as a result of within the prelude to that decision, we discovered Lucid’s longtime CEO and CTO Peter Rawlinson can be stepping down because the EV startup seeks a brand new high government.
Here is what we find out about what’s subsequent for Lucid on Important Supplies, our morning roundup of auto trade and expertise information. Additionally on faucet as we speak: extra on the seek for a brand new Stellantis CEO, and Hyundai will get greater into the battery sport—however not even for vehicles. Let’s dig in.
30%: Lucid’s Subsequent Transfer
Picture by: InsideEVs
My colleague Tim Levin coated Rawlinson’s sudden departure yesterday, so I will not repeat a lot right here. Total, the transfer appears amicable, though Rawlinson himself was not on yesterday’s earnings name—one thing buyers requested about.
“Clearly, I believe we clearly introduced that Peter made the choice that after 12 years, it is now time to move the baton,” Lucid COO and now interim CEO Marc Winterhoff stated through the name. “What Peter did in that point is extraordinary. And he constructed this firm, however he additionally constructed a really robust crew. And he felt that it is now time after bringing Air to life, establishing our expertise management and Gravity to move the baton. And that is why we’re sitting right here proper now to take the decision.”
Rawlinson’s time at Lucid dates again to when it was nonetheless referred to as Atieva, which can ring a bell when you’re O.G. within the EV area. Again then, the corporate specialised in batteries and motors. The ex-Tesla engineer did certainly accomplish an awesome deal in his time, taking Lucid from that tiny startup to 1 with two vehicles in its lineup, a brand new manufacturing facility constructed from the bottom up in Arizona, and a class-leading strategy to EV vary, charging and effectivity.
Nonetheless, mainstream success, and income, have been elusive. Lucid’s Air—excellent as it’s—has struggled to compete as an costly sedan in a market that more and more favors crossovers and extra reasonably priced EVs. The Gravity SUV will assist with one a part of that, and a brand new class of midsize EVs ought to assist with the second half.
Thus, Winterhoff was clear that Lucid has no plans to reinvent the wheel. By way of Bloomberg:
In an interview, Winterhoff stated the corporate will proceed to prioritize boosting deliveries and output of the brand new SUV, controlling bills, licensing its expertise and preserving its new midsize automobile on monitor to debut subsequent 12 months. Rawlinson tendered his resignation on Friday and the board was concerned within the resolution, Winterhoff stated, noting that the Saudi fund’s priorities additionally stay unchanged.
“We’re not reinventing the corporate itself,” he stated.
Lucid stated it’ll produce about 20,000 autos this 12 months, topping the roughly 14,700 common anticipated by analysts, in response to estimates compiled by Bloomberg. Fourth-quarter income of $234.5 million topped the $212 million common of analyst estimates compiled by Bloomberg.
Rawlinson will keep on as a senior technical advisor for the chairman of the board, however won’t be concerned within the day-to-day operations of the corporate. An government search agency has been employed to search out his longer-term substitute. It is secure to imagine the corporate will keep the course till that particular person is employed.
Winterhoff did add that Lucid plans to take “a a lot bolder strategy on advertising and marketing than ever earlier than” this 12 months. It is going to seemingly want that, as model recognition to date is not precisely Lucid’s robust swimsuit—not in comparison with the place Tesla was as soon as or the place Rivian is at now, sadly.
60%: Stellantis Warns That 2025 Will not Be A Banner Yr
The listing of issues dealing with European-American auto conglomerate Stellantis is a protracted one. Gross sales are down in practically all of its markets, just one model (Fiat) was really up in gross sales final 12 months, it is quite behind on electrification efforts, and plainly mainly everybody on earth hated the final CEO, Carlos Tavares.
Stellantis, too, is trying to find a brand new CEO. And discovering somebody who is aware of, and understands, 14 manufacturers as disparate as Dodge and Peugeot goes to be robust. That is why it is warning buyers of a troublesome 12 months forward, in response to Reuters:
The group guided for a return to income development and optimistic money technology this 12 months and for regular margins. However it warned the development would not likely materialize earlier than the second a part of the 12 months, sending its shares down.
Automakers in Europe, the place Stellantis is the second largest group, are battling excessive prices, sluggish demand and stiff competitors from China, in addition to complying with stringent carbon rules and dealing with the specter of new tariffs.
The group, which is now led by Chairman John Elkann, stated the method to nominate the brand new CEO was nicely underway and reiterated it might be concluded inside the first half.
One of the crucial worthwhile quantity automakers for years underneath Tavares, Stellantis was hit in 2024 by slumping gross sales and bloated inventories, particularly within the U.S., its most worthwhile market, as it raised costs too excessive, shedding longstanding prospects.
It should be very, very fascinating to see who Stellantis places its religion into to show issues round.
90%: Hyundai Will get Into The Robotic Battery Recreation
Picture by: InsideEVs
Transfer over, Optimus. Hyundai needs into the robotics sport, too, particularly the place batteries are involved. It simply introduced a brand new cope with longtime South Korean accomplice Samsung SDI to develop cells for robot-focused batteries. Consider it or not, that subject would not even exist but. (Who knew?)
Here is extra from Korea’s enterprise information publication Pulse:
The collaboration marks an enlargement of the battery partnership between the 2 conglomerates, following Hyundai Motor Co.’s announcement in 2023 that it might use Samsung SDI Co. batteries for its next-generation electrical autos.
Hyundai Motor and Kia Corp. introduced on Tuesday that they signed a memorandum of understanding with Samsung SDI on the Uiwang Analysis Middle in Gyeonggi Province on Monday for the joint growth of robot-specific batteries.
This collaboration goals to create high-performance batteries with greater vitality density, elevated energy output, and prolonged working time.
Regardless of the speedy development of the robotics trade, no devoted robotic batteries at present exist. As an alternative, most robots use batteries designed for energy instruments, which aren’t optimized for the complicated and irregular buildings of robots.
I do suppose we’ll see extra automakers stretching their battery experience into non-automotive fields, simply as lots of them have performed with vitality storage models. Why not, proper?
100%: What Does Lucid Look Like A Yr From Now?
Picture by: Lucid Motors
Let’s fast-forward to February 2026. The place is Lucid at? Will the Gravity SUV be a success this 12 months? Will it nonetheless be on monitor to get Venture Midsize out the door? And who may very well be candidate to guide the corporate? Share your ideas within the feedback.
Contact the creator: patrick.george@insideevs.com
