Peter Rawlinson, who recently stepped down as Lucid’s chief executive, will continue to receive substantial compensation in his new role as an advisor to the Chairman of the Board.
Rawlinson will earn $120,000 per month, receive a $2 million stock grant, and retain a company car as part of his agreement with the company.
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Despite Lucid reporting a net loss of $2.7 billion in 2024, the company remains financially stable due to backing from its majority owner, Saudi Arabia’s Public Investment Fund.
Under the terms of his new role, Rawlinson will receive stock grants in three equal installments on February 21, 2026, August 21, 2026, and February 21, 2027, while Lucid will continue covering his health insurance premiums.
Rawlinson has previously received significant compensation from Lucid. In 2022, he was awarded a base salary of $575,000, stock options valued at approximately $373 million, and stock option gains of $5.5 million, according to regulatory filings.
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His earnings largely stemmed from a one-time stock grant approved by Lucid’s Board of Directors in 2021, which vested in 2022 after the company achieved key market capitalization milestones.
With Rawlinson stepping aside, Chief Operating Officer Marc Winterhoff has been appointed interim CEO as the board searches for a permanent successor.
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Rawlinson stated that the timing of his departure coincided with the launch of Lucid’s new Gravity SUV, which has enabled the company to increase its 2025 production target to 20,000 vehicles—approximately double the number produced in 2024.