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Lucid Motors has finally found a new CEO in long-time industrial executive Silvio Napoli
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The company on Tuesday said that Napoli, who has spent the last few decades in various leadership positions at elevator and escalator company Schindler Group, will also join its board of directors.
Key facts
- Alongside the CEO appointment, Lucid said it has received another $200 million commitment from Uber, which has agreed to buy an additional 25,000 robotaxi-ready versions of Lucid’s upcoming mid-size
- Finally, Lucid’s majority owner, the Saudi Arabian Public Investment Fund, is purchasing another $550 million of its shares
- Lucid Motors has been without a permanent CEO since February 2025, when long-time leader Rawlinson suddenly left the company
- In February, it decided to lay off 12% of its workforce, TechCrunch reported
Summary
Lucid Motors has finally found a new CEO in long-time industrial executive Silvio Napoli, marking the end of a more than year-long search following the sudden resignation of its former chief, Peter Rawlinson. Alongside the CEO appointment, Lucid said it has received another $200 million commitment from Uber, which has agreed to buy an additional 25,000 robotaxi-ready versions of Lucid’s upcoming mid-size vehicle. Finally, Lucid’s majority owner, the Saudi Arabian Public Investment Fund, is purchasing another $550 million of its shares. The announcements come during an all-important year for Lucid Motors.