Lucid Motors has appointed Silvio Napoli as its new chief executive officer, ending a search for a permanent leader that began following the sudden resignation of Peter Rawlinson in February 2025.
Napoli, a veteran industrial executive with decades of leadership experience at the Schindler Group, will also join the company's board of directors, according to a company announcement on Tuesday.
Interim CEO Marc Winterhoff led the company for over a year while the board searched for a replacement. Winterhoff’s tenure included a 12% workforce reduction in February and recent efforts to reduce contractor headcount at the company's Arizona factory to improve cost efficiency.
New capital inflows from Uber and Saudi Arabia
The leadership change coincides with a significant influx of capital. Uber has committed an additional $200 million to Lucid Motors, agreeing to purchase 25,000 more versions of the company's upcoming mid-size vehicle configured for robotaxi use.
This new commitment brings Uber’s total investment in the automaker to $500 million, with a minimum vehicle order of 35,000 units. The vehicles are designed to be ready for autonomous fleet operations.
Lucid's majority shareholder, the Saudi Arabian Public Investment Fund, is also increasing its stake. The fund is purchasing an additional $550 million of Lucid shares, providing a critical liquidity boost as the company scales production.
Lucid is currently focused on ramping up the Gravity SUV following a difficult market reception for its Air sedan. The company is also preparing to launch its first vehicle built on a mid-sized platform, which targets a more accessible $50,000 price point.
Recent production efforts have faced hurdles, including a recall of over 4,000 Gravity SUVs due to improperly welded seat belts. The company is now banking on Napoli's industrial expertise to stabilize operations and manage the rollout of its new, lower-cost vehicle lineup.
