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

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