FILE PHOTO: Peter Rawlinson, Chief Technology Officer and Vice President of Lucid Motors, speaks during the TechCrunch Disrupt event in New York City, U.S., May 16, 2017. REUTERS/Brendan McDermid

(Reuters) - Electric carmaker Lucid Motors on Tuesday named Peter Rawlinson, former chief engineer of Tesla Inc’s Model S, as its chief executive officer, effective immediately.

Rawlinson, who joined Lucid in 2013 and held the role of the chief technology officer, will be replacing Sam Weng, who is also the company’s co-founder.

Rawlinson, who will also retain his role as CTO, was the Model S engineering chief for three years from 2009.

Lucid, which has more than $1 billion investment from Saudi Arabia’s Public Investment Fund, said Weng has retired following his 11-year long tenure with the company.

Based in Newark, California, Lucid Motors was founded in 2007 as Atieva by Weng and Bernard Tse, a former Tesla vice president and board member.