Lucid's stock rallies as luxury EV maker narrows its loss

Dow Jones

2025/02/26

MW Lucid's stock rallies as luxury EV maker narrows its loss

By Claudia Assis

Lucid also announces CEO transition

Shares of Lucid Group Inc. shot up 6% in after-hours trading Tuesday after the luxury EV maker narrowed its quarterly loss and announced a CEO change.

Lucid (LCID) said it produced 3,386 vehicles in the fourth quarter and 9,029 vehicles in 2024, in line with its 2024 guidance of 9,000 vehicles.

Fourth-quarter revenue hit $234.5 million, ahead of FactSet consensus for $214.1 million. The company's adjusted net loss for the quarter came in at 22 cents a share, versus expectations of a loss of 25 cents a share.

Lucid said that it appointed Chief Operating Officer Marc Winterhoff as its interim chief executive, and CEO Peter Rawlinson will serve as a technical advisor to the board chair, stepping aside as top executive.

This is a developing story, and it will be updated.

-Claudia Assis

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

February 25, 2025 16:18 ET (21:18 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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