Financial News

Lucid Replaces its European Boss, Starts Producing SUVs

Lucid Motors (NASDAQ: LCID), a well-established electric vehicle (EV) manufacturer from the United States, has recently made notable changes in its leadership team and production plans. First, the company announced the replacement of its European boss Alexander Lutz with Lawrence Hamilton, a seasoned automotive executive. Second, Lucid has officially begun producing its much-anticipated Gravity electric SUV on a full scale. These updates represent important steps for Lucid as it continues to navigate the competitive electric vehicle market.

The most recent change at Lucid Motors is the replacement of Alexander Lutz as the Managing Director of Lucid Motors Europe. Lutz, who had been in the role for less than a year, was responsible for overseeing the company’s operations and strategy across Europe. His departure came unexpectedly, just weeks after he shared the company’s European plans for the future, including the upcoming launch of the Lucid Air Sapphire and the Gravity electric SUV, along with a mid-range model slated for 2027.

Replacing Lutz is Lawrence Hamilton, who officially took over as Managing Director of Lucid Motors Europe in December 2024. Hamilton brings a wealth of experience from his previous role at Genesis, where he led the brand’s operations across Europe. His experience in the automotive industry spans decades and includes roles at major car manufacturers like Daewoo, Mazda, Mitsubishi, Kia, and Hyundai, further cementing his qualifications to guide Lucid’s European efforts. Although the exact reasons for Lutz’s departure are still unclear, Hamilton’s leadership marks a new chapter for Lucid in Europe.

The departure of Lutz is part of a broader trend of high-level turnover at Lucid Motors. In the past 14 months, the company has seen nine key executives leave, including Vice Presidents in important areas such as software development, supply chains, quality, and marketing. Two Senior Vice Presidents, as well as top executives such as the Chief Financial Officer and Chief Legal Officer, have also left. While these leadership changes may raise questions about the company’s internal stability, Lucid has maintained a strong focus on its long-term goals and its position in the EV market.

While Lucid Motors deals with changes in leadership, the company has also made significant progress in other areas. One of the most exciting developments is the production of the Gravity electric SUV. Lucid’s Casa Grande plant in Arizona has now started full-scale production of the Gravity, following earlier pre-series vehicles built in July. The first customer vehicles are now being produced, marking a major milestone for the company.

Lucid began accepting orders for the Gravity SUV in the United States earlier this year, with prices starting at $79,900 for the base model. However, the first model coming off the production line is the Gravity Grand Touring, which starts at $94,900. A more affordable version, the Gravity Touring, will launch by the end of 2025, priced below $80,000. This version represents a crucial part of Lucid’s plan to expand its product lineup and attract more customers.

All in all, Lucid Motors is facing a period of leadership changes, but its vision for the future remains strong. With Lawrence Hamilton now leading the European division and the Gravity SUV in full production, Lucid is set to continue making strides in the electric vehicle industry.

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