Former Lucid Motors CEO Peter Rawlinson will receive $120,000 per month as an adviser to the automaker, a $2 million stock grant and a company car as part of a two-year “transition agreement,” the company said in a regulatory filing.

Lucid Motors is changing CEOs for the first time in nearly six years. The company announced Tuesday that Peter Rawlinson is stepping down from the CEO and

The firm has set a production target of around 20,000 vehicles for 2025, up from 9,029 vehicles reported in 2024.