Lucid Group, Inc. appointed Marc Winterhoff as its first Chief Operating Officer (COO).
“I couldn’t be more excited to join Lucid and be part of such a stellar group,” said Winterhoff. “The incredible products Lucid has created and brought to market inspire technologists and car lovers everywhere, and I am honored to be part of the team.”
Winterhoff will report to CEO and CTO Peter Rawlinson. His role as COO will take effect on December 4, 2023.
“We are delighted to welcome Marc to Lucid,” said Peter Rawlinson, CEO and CTO of Lucid Group. “His keen insight into consumer and technology trends and operational expertise within the automotive industry in North America, Europe, and China make him the ideal leader to help propel us into the next phase of our growth.”
Winterhoff’s position in Lucid is a newly created role in the company. As COO, Winterhoff will accelerate international expansion, enhance Lucid’s go-to-market strategy, and aid in the development of the company’s manufacturing operations.
Winterhoff was previously the Director of LHS Communications in the Greater Atlanta Area and Arthur D. Little in Germany. Before working with Lucid, Winterhoff was a Senior Partner at Roland Berger in the Greater Chicago Area.
Lucid recently released its third-quarter earnings, reporting a revenue of $137.8 million in Q3 2023. The company’s revenue dropped 30% compared to the previous year. Lucid missed the analyst consensus for the third quarter, which was set to $185.1 million.
The luxury electric vehicle manufacturer delivered 1,457 units and produced 1,550 electric vehicles in the last quarter. Lucid reduced its production forecast for 2023 from 10,000 to 8,000 and 8,500 units.