I have to admit that I wasn’t expecting yesterday’s Lucid Motors’ fourth-quarter earnings call to be an especially interesting one. The company has its marching orders: ramp up production of the Lucid Gravity SUV in particular, double car production overall and move its groundbreaking electric vehicle technology to a new class of buyer who wants more room than a Lucid Air sedan can offer.
The joke’s on me, because in the prelude to that call, we learned Lucid’s longtime CEO and CTO Peter Rawlinson would be stepping down as the EV startup seeks a new top executive.
Here’s what we know about what’s next for Lucid on Critical Materials, our morning roundup of auto industry and technology news. Also on tap today: more on the search for a new Stellantis CEO, and Hyundai gets bigger into the battery game—but not even for cars. Let’s dig in.
30%: Lucid’s Next Move
Photo by: InsideEVs
My colleague Tim Levin covered Rawlinson’s sudden departure yesterday, so I won’t repeat much here. Overall, the move seems amicable, although Rawlinson himself was not on yesterday’s earnings call—something investors asked about.
“Obviously, I think we clearly announced that Peter made the decision that after 12 years, it’s now a good time to pass the baton,” Lucid COO and now interim CEO Marc Winterhoff said during the call. “What Peter did in that time is extraordinary. And he built this company, but he also built a very strong team. And he felt that it’s now a good time after bringing Air to life, establishing our technology leadership and Gravity to pass the baton. And that’s why we are sitting here right now to take the call.”
Rawlinson’s time at Lucid dates back to when it was still called Atieva, which may ring a bell if you’re O.G. in the EV space. Back then, the company specialized in batteries and motors. The ex-Tesla engineer did indeed accomplish a great deal in his time, taking Lucid from that tiny startup to one with two cars in its lineup, a new factory built from the ground up in Arizona, and a class-leading approach to EV range, charging and efficiency.
However, mainstream success, and profits, have been elusive. Lucid’s Air—outstanding as it is—has struggled to compete as an expensive sedan in a market that increasingly favors crossovers and more affordable EVs. The Gravity SUV will help with one part of that, and a new class of midsize EVs should help with the second part.
Thus, Winterhoff was clear that Lucid has no plans to reinvent the wheel. Via Bloomberg:
In an interview, Winterhoff said the company will continue to prioritize boosting deliveries and output of the new SUV, controlling expenses, licensing its technology and keeping its new midsize vehicle on track to debut next year. Rawlinson tendered his resignation on Friday and the board was involved in the decision, Winterhoff said, noting that the Saudi fund’s priorities also remain unchanged.
“We are not reinventing the company itself,” he said.
Lucid said it will produce about 20,000 vehicles this year, topping the roughly 14,700 average expected by analysts, according to estimates compiled by Bloomberg. Fourth-quarter revenue of $234.5 million topped the $212 million average of analyst estimates compiled by Bloomberg.
Rawlinson will stay on as a senior technical advisor for the chairman of the board, but will not be involved in the day-to-day operations of the company. An executive search firm has been hired to find his longer-term replacement. It’s safe to assume the company will stay the course until that person is hired.
Winterhoff did add that Lucid plans to take “a much bolder approach on marketing than ever before” this year. It will likely need that, as brand recognition thus far isn’t exactly Lucid’s strong suit—not compared to where Tesla was once or where Rivian is at now, unfortunately.
60%: Stellantis Warns That 2025 Won’t Be A Banner Year
The list of problems facing European-American auto conglomerate Stellantis is a long one. Sales are down in nearly all of its markets, only one brand (Fiat) was actually up in sales last year, it’s rather behind on electrification efforts, and it seems that basically everyone on earth hated the last CEO, Carlos Tavares.
Stellantis, too, is searching for a new CEO. And finding someone who knows, and understands, 14 brands as disparate as Dodge and Peugeot is going to be tough. That’s why it’s warning investors of a tough year ahead, according to Reuters:
The group guided for a return to revenue growth and positive cash generation this year and for steady margins. But it warned the improvement would not really materialize before the second part of the year, sending its shares down.
Automakers in Europe, where Stellantis is the second largest group, are battling high costs, sluggish demand and stiff competition from China, as well as complying with stringent carbon regulations and facing the threat of new tariffs.
The group, which is now led by Chairman John Elkann, said the process to appoint the new CEO was well underway and reiterated it would be concluded within the first half.
One of the most profitable volume automakers for years under Tavares, Stellantis was hit in 2024 by slumping sales and bloated inventories, especially in the U.S., its most profitable market, as it raised prices too high, losing longstanding customers.
It’s going to be very, very interesting to see who Stellantis puts its faith into to turn things around.
90%: Hyundai Gets Into The Robot Battery Game
Photo by: InsideEVs
Move over, Optimus. Hyundai wants into the robotics game, too, especially where batteries are concerned. It just announced a new deal with longtime South Korean partner Samsung SDI to develop cells for robot-focused batteries. Believe it or not, that field doesn’t even exist yet. (Who knew?)
Here’s more from Korea’s business news publication Pulse:
The collaboration marks an expansion of the battery partnership between the two conglomerates, following Hyundai Motor Co.’s announcement in 2023 that it would use Samsung SDI Co. batteries for its next-generation electric vehicles.
Hyundai Motor and Kia Corp. announced on Tuesday that they signed a memorandum of understanding with Samsung SDI at the Uiwang Research Center in Gyeonggi Province on Monday for the joint development of robot-specific batteries.
This collaboration aims to create high-performance batteries with higher energy density, increased power output, and extended operating time.
Despite the rapid growth of the robotics industry, no dedicated robot batteries currently exist. Instead, most robots use batteries designed for power tools, which are not optimized for the complex and irregular structures of robots.
I do think we’ll see more automakers stretching their battery expertise into non-automotive fields, just as many of them have done with energy storage units. Why not, right?
100%: What Does Lucid Look Like A Year From Now?
Photo by: Lucid Motors
Let’s fast-forward to February 2026. Where is Lucid at? Will the Gravity SUV be a hit this year? Will it still be on track to get Project Midsize out the door? And who could be a good candidate to lead the company? Share your thoughts in the comments.
Contact the author: patrick.george@insideevs.com
