Lucid Motors Names New CEO, Lands More Funding

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Lucid Motors has appointed Silvio Napoli as its new CEO, ending a year-long search following the sudden resignation of former chief Peter Rawlinson. The company also announced a $200 million commitment from Uber to purchase an additional 25,000 robotaxi-ready Lucid Gravity SUVs, as well as a $550 million investment from Saudi Arabia's Public Investment Fund, Lucid's majority owner.

Why it matters

The leadership change and new funding come at a critical time for Lucid as it works to ramp up production and sales of its Gravity SUV after struggling to find a large market for its Air sedan. The additional investments from Uber and Saudi Arabia will help Lucid expand its product lineup and accelerate its path to profitability.

The details

Silvio Napoli, a long-time executive at elevator and escalator company Schindler Group, will join Lucid's board of directors and become the new CEO once he receives the necessary work authorization in the U.S. Until then, Lucid's current COO, Marc Winterhoff, will continue serving as interim CEO. Napoli's compensation package includes a $1.5 million base salary, a $1 million relocation bonus, and potentially tens of millions more in stock awards and performance-based bonuses.

• Lucid Motors has been without a permanent CEO since February 2025, when Peter Rawlinson suddenly left the company.
• Uber and Lucid first partnered in July 2025, with Uber making a $300 million investment and agreeing to buy at least 20,000 Gravity SUVs.
• Lucid expects Napoli to receive permission to work in the U.S. 'in the coming weeks.'

What’s next

Lucid expects Napoli to receive permission to work in the U.S. 'in the coming weeks,' after which Winterhoff will resume his role as chief operating officer.