Lucid SVP of Digital Steps Out with Immediate Effect
Written by Cláudio Afonso | Info@claudio-afonso.com | LinkedIn | X
On Monday, Lucid Motors, a startup headquartered in California, released its financial results for the first quarter of the year. Following the report, a SEC filing revealed that Michael Bell, the Senior Vice President of Digital, has resigned from his position with immediate effect.
Lucid stated that Bell will be “pursuing other opportunities” and will remain available in an advisory capacity until mid-August to assist with the transition.
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To replace him, Lucid appointed Derrick Carty, who serves Vice President of Platform Software since mid 2022, to lead the its Digital organization on an interim basis.
In the first quarter of the year, the EV maker produced 1,728 units of its Air luxury sedan with deliveries reaching 1,967 vehicles, an increase of 39.9 percent compared to the same period of last year.
The company has reiterated its annual production guidance of “approximately 9,000” units, which would represent a slight increase from the 8,428 vehicles produced in 2023.
Earlier today, Lucid announced on X that the Lucid Air now comes with a $1,000 Charging Allowance toward the purchase of Lucid charging accessories, and up to two years of complimentary scheduled maintenance.
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Citi recently resumed coverage of Lucid Motors’ shares with a neutral rating and $2.90 price target. The firm emphasises Lucid’s “strong” electric vehicle (EV) technology although it raises concern on the execution risk for the upcoming model planned for late 2024 Gravity.
Last month, Lucid Motors signed a partnership with the electric vehicle (EV) charging company Wallbox to provide chargers to its European customers.
Written by Cláudio Afonso | Info@claudio-afonso.com | LinkedIn | X
