Electric-vehicle maker Lucid Group said on Tuesday that CEO Peter Rawlinson is stepping down. Lucid forecast its vehicle production will more than double this year.

Electric vehicle maker Lucid Group on Tuesday said CEO Peter Rawlinson has stepped down. The company expects to more than double vehicle production this year to 20,000 units. For the period ended Dec.

Lucid Motors chief executive Peter Rawlinson has stepped down from the Saudi-backed electric-vehicle maker as it prepares to double production and introduce an SUV model in an effort to reverse a steep decline in its share price.

The company plans to reduce its global workforce by 5% as part of a cost-savings push after it reported weaker earnings and revenue, and pushed back the launch of its first fully electric car.

(Reuters) -Luxury carmaker Aston Martin said on Wednesday it will cut about 5% of its global workforce to further reduce costs and drive future investments, and delayed the launch of its first battery electric vehicle (BEV) for the second time.

Aston Martin Lagonda Global Holdings Plc is cutting around 170 staff, or 5% of the workforce, as the British luxury carmaker tries to reverse years of losses.