Lucid Motors Appoints Silvio Napoli as CEO, Secures $750M Investment
On Tuesday, electric vehicle manufacturer Lucid Group unveiled a series of significant changes. The company announced the appointment of Silvio Napoli as its new Chief Executive Officer and secured a hefty $750 million investment from Saudi Arabia’s Public Investment Fund and Uber Technologies.
Silvio Napoli, previously the Chairman and CEO of the industrial manufacturer of elevators and escalators, Schindler Group, will join Lucid as an executive director and board member effective from April 15, 2026. This appointment concludes a year-long search following the unexpected exit of founder Peter Rawlinson in February 2025. Marc Winterhoff, the Interim CEO, will assume the role of Chief Operating Officer once Napoli takes over.
Alongside the leadership change, Lucid has also secured substantial financial support. Ayar Third Investment Company, an affiliate of Saudi Arabia’s Public Investment Fund, will acquire $550 million of Lucid preferred stock. In addition, Uber subsidiary SMB Holding Corporation is investing $200 million via common stock, bringing its total investment in Lucid to $500 million.
The companies also extended their robotaxi partnership. Uber has pledged to purchase a minimum of 35,000 Lucid vehicles for its autonomous ride service, an increase from the previously announced 20,000 units. The vehicles will comprise the Lucid Gravity SUV and future midsize models equipped with autonomous driving technology from Nuro. This expanded partnership indicates Lucid’s strategic shift towards scale, profitability, and autonomous vehicle deployment as it aims to produce 25,000-27,000 vehicles in 2026.
Source: https://www.cnbc.com/2026/04/14/lucid-ceo-silvio-napoli.html