Former Tesla executive Peter Hochholdinger landed at Lucid Motors.
The latest high-ranking Tesla Inc. executive to depart the industry-leading electric-vehicle maker isn’t traveling far to get to his new reserved parking spot. In fact, less than 10 minutes even with traffic.
Peter Hochholdinger, former vice president of production at Tesla’s Fremont factory, is now Vice President of Manufacturing at Lucid Motors, in Newark, California.
Lucid, which was formed in 2007, is almost becoming a haven for former Tesla employees as Hochholdinger is the most recent top-level exec to join the company. Peter Rawlinson, former chief engineer of Tesla’s Model S, was named Lucid’s Chief Executive Officer in April.
Rawlinson said Hochholdinger’s experience in manufacturing would help the company in launching Lucid Air and other future models.Hochholdinger will lead Lucid’s global manufacturing operations, commencing with Lucid’s plant in Casa Grande, Arizona, as well as manufacturing engineering.
(Tesla Loses Another Top Executive)
Lucid Motors has become a haven for former Tesla employees, like its CEO Peter Rawlinson.
Lucid, which is backed by a $1 billion investment from Saudi Arabia’s Public Investment Fund, was founded by Sam Weng and Bernard Tse, a former vice president of Tesla. In fact, six of the company’s top eight executives have all spent time at Tesla.
However, this time hasn’t made the automaker a clone of Elon Musk’s company. Officials have taken pains to try to align the company as a luxury automaker competing with Audi or BMW. The company sealed the deal, which was announced last September, on the financing deal with the Saudis in April.
“By investing in the rapidly expanding electric vehicle market, PIF is gaining exposure to long-term growth opportunities, supporting innovation and technological development and driving revenue and sectoral diversification for the Kingdom of Saudi Arabia,” the PIF said in a statement.
(Tesla stock rebounds, but questions remain about production)
A Lucid Air prototype recently hit 235 mph during track testing.
The funding has allowed Lucid has made progress towards getting its first vehicle, a sporting sedan called the Lucid Air. The Air set to begin beta vehicle testing. Additionally, Lucid has established a vehicle charging network partnership with Electrify America, and is preparing to break ground on a new manufacturing facility in Casa Grande, Arizona.
Lucid’s team recently moved into a new 305,000 square-foot headquarters in Silicon Valley, and continues to expand across all areas of the organization, the company noted. The goal is still to have the Air available to consumers in 2020.
Lucid officials have said the new model will cost about $60,000.
(Lucid Secures $1 Billion Investment from Saudis)