BUZZ-Lucid gains after strong annual production forecast, CEO transition

Reuters

Feb 26, 2025

** Electric vehicle maker Lucid Group's LCID.O shares rise 3.5% to $2.69 premarket

** LCID says Peter Rawlinson, its CEO for over 5 years, is stepping down from the role and forecasts its vehicle production will more than double this year

** Co forecasts vehicle production this year to be around 20,000, compared with around 9,000 cars it made in 2024

** Co reports Q4 revenue of $234.5 million, beating Wall Street estimates of $214.2 million, according to data compiled by LSEG

** "We are skeptical the company will be able to turn the corner toward profitability, even if its volumes more than double in 2025" - CFRA Research analyst Garrett Nelson

** Up to last close, LCID stock has fallen ~14% in the past 12 months

(Reporting by Jaspreet Singh in Bengaluru)

((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))

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