Former Lucid CEO and Chief Technology Officer, Peter Rawlinson, is set to receive a substantial financial package following his departure as the head of the luxury electric vehicle maker. According to a new regulatory filing, Rawlinson will earn a monthly consulting fee of $120,000, or $1,440,000 per year, serving as an advisor to Lucid for the next two years.
As part of his transition from CEO, Rawlinson’s compensation package will extend beyond his monthly advisory fee. He will also receive a $2 million stock grant, a company vehicle, and other benefits, including:
- A Lucid vehicle
- Company-paid COBRA health insurance premiums
- Up to $10,000 annually for tax preparation services in both 2025 and 2026
- An additional payment to cover the personal income taxes related to these benefits
- A restricted stock unit (RSU) award valued at $2 million, vesting in three equal installments over two years through February 2027
While still a substantial amount, Rawlinson’s new advisory salary is a fraction of what he previously earned as CEO. In 2022, he was the highest-paid CEO in the automotive industry, receiving a staggering $379 million compensation package. His pay structure included a modest $575,000 base salary but was heavily bolstered by $373 million in stock awards and additional stock options valued at $5.5 million.
Rawlinson’s departure comes at a critical time for Lucid, as the company aims to ramp up production and stabilize financially. The EV maker plans to more than double its production output to 20,000 vehicles this year, thanks in part due to the launch of the Gravity SUV.
