Lucid
LCID,
Chief Executive Peter Rawlinson will get a $6 million bonus related to the company’s launch of an electric SUV in November.
The Newark, Calif.-based, luxury electric vehicle maker disclosed in a regulatory filing on Thursday that its board had approved the cash bonus, “in recognition of his significant contributions to this milestone achievement.”
The Lucid Gravity, a sport utility vehicle with an original retail price of $80,000, was unveiled in November. The company first showed the new offering at the Los Angeles Auto Show.
Earlier on Thursday, Lucid became the latest EV-maker to lower prices on its vehicles due to weak demand. The company slashed the starting price of its Air sedan by 10% to $69,900.
Rawlinson served as chief engineer of the Tesla Model S program and is currently also chief technology officer for Lucid.
This story originally appeared on Marketwatch
