Analysts on the post-earnings conference noted Rawlinson was absent from the call, sparking questions about the circumstances surrounding his exit from the role. "It was surprising and unusual that he wasn't present during the call, particularly since they didn't appoint the new CEO," said Sheppard, who was present on the call. The company continues to lose tens of thousands of dollars per vehicle, while rivals such as Rivian move aggressively to cut costs in a bid to make profits. Lucid reported revenue of $234.5m (R4.32bn ), beating Wall Street expectations of $214.2m (R3.95bn ), according to data compiled by LSEG. It posted a loss of $397.2m (R7.33bn ) in the quarter ended December 31, compared with a loss of $653.8m (R12.05bn ) a year ago. Demand for pure battery cars in the US has been slow as people gravitate more towards cheaper hybrids owing to high interest rates and economic uncertainty.