Lucid CEO Rawlinson to get $6 million bonus over electric SUV launch

By Ben Glickman

Lucid (LCID) Chief Executive Peter Rawlinson will get a $6 million bonus related to the company's launch of an electric SUV in November.

The Newark, Calif.-based, luxury electric vehicle maker disclosed in a regulatory filing on Thursday that its board had approved the cash bonus, "in recognition of his significant contributions to this milestone achievement."

The Lucid Gravity, a sport utility vehicle with an original retail price of $80,000, was unveiled in November. The company first showed the new offering at the Los Angeles Auto Show.

Earlier on Thursday, Lucid became the latest EV-maker to lower prices on its vehicles due to weak demand. The company slashed the starting price of its Air sedan by 10% to $69,900.

Rawlinson served as chief engineer of the Tesla Model S program and is currently also chief technology officer for Lucid.

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02-15-24 1900ET

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