Hyperdrive
Ex-Tesla Engineer Takes Over as CEO of Electric Vehicle Challenger Lucid
- Shuffle precedes plan to start producing first car next year
- Venture boosted by Saudi fund’s $1 billion investment
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Lucid Motors Inc., the electric-car startup funded by Saudi Arabia’s sovereign wealth fund, promoted its chief technology officer to the top job following co-founder Sam Weng’s retirement as CEO.
Peter Rawlinson, who was chief engineer of the Model S when he worked for Tesla Inc., has long been the public face of Lucid, which plans to build electric sedans in 2020 at a factory in Arizona. A lack of funding delayed those efforts until Saudi Arabia’s Public Investment Fund invested more than $1 billion in a deal closed earlier this month.