Chief Executive Peter Rawlinson has become a vocal advocate for the brand, praising his and his engineers' work to advance and leave its mark on the EV space. Currently, the Newark, California-based EV manufacturer makes two vehicles: the award-winning Air sedan and the bigger Gravity SUV.

The CEO of luxury EV startup Lucid Group is stepping aside as the company continues to lose money, despite increasing sales. Why it matters: The Saudi-backed Lucid has billed itself from the beginning as a serious competitor to Tesla,

Lucid Group Inc. will begin a search for a new leader after Chief Executive Officer Peter Rawlinson stepped aside to serve as an advisor to the electric-vehicle maker.