Dive Brief:
- Luxury-electric vehicle maker Lucid Group has named Marc Winterhoff as its first-ever chief operating officer, effective Dec. 4, the company announced Tuesday.
- The new COO will oversee the company’s global operations, including manufacturing, supply chain, marketing, sales and service.
- Winterhoff’s appointment comes as Lucid curbs production in the face of dwindling sales.
Dive Insight:
During its Q3 earnings call Tuesday, Lucid lowered its full-year production guidance from 10,000 vehicles to 8,000-8,500 vehicles, as the company reduces production to align with declining Lucid Air sales. Lucid delivered 1,457 vehicles in Q3 as the company faces growing competition in the luxury EV segment.
Lucid’s Q3 revenue fell to $137.8 million, a 29.5% year-over-year decline, and lost $630.9 million in the third quarter, a 19% year-over-year increase in net loss. Lucid lost $2.2 billion during the first nine months of 2023.
Winterhoff will report directly to Lucid CEO and CTO Peter Rawlinson and be based at the company’s Silicon Valley headquarters. In his new role, Winterhoff will focus on improving Lucid’s operational efficiency and manufacturing operations. He will also be tasked with accelerating the automaker’s global expansion and improving the company’s go-to-market strategy, according to the press release.
Winterhoff joins Lucid from the automotive practice of consulting firm Roland Berger, which creates long-term strategies for automotive brands in emerging areas such as electric mobility, manufacturing and digitalization.
“We are delighted to welcome Marc to Lucid,” Lucid Group CEO and CTO Peter Rawlinson said in a statement. “His keen insight into consumer and technology trends and operational expertise within the automotive industry in North America, Europe, and China make him the ideal leader to help propel us into the next phase of our growth.”
Production of the more affordable Lucid Air Pure RWD began in September and is ramping up, according to Lucid. The Air Pure starts at $77,400.
Earlier this week, Lucid said it would adopt Tesla’s North American Charging Standard port on its future EVs, giving customers access to over 15,000 Tesla Superchargers in North America in 2025.
“Adopting NACS is an important next step to providing our customers with expanded access to reliable and convenient charging solutions for their Lucid vehicles,” Rawlinson said in a statement.
Lucid is slated to reveal its forthcoming Gravity SUV at the Los Angeles Auto Show on Nov. 16. The automaker plans to start production in late 2024.
