Lucid Motors Appoints Silvio Napoli As CEO And Secures New Uber Investment

Lucid Motors has named Silvio Napoli as its new chief executive, ending a search that lasted more than a year following the departure of Peter Rawlinson. The leadership change comes alongside new investment commitments and vehicle orders as the company works to expand production and stabilize its business.

Leadership Transition And Interim Management

Napoli, a longtime executive at Schindler Group, will also join Lucid’s board of directors. He will not assume the CEO role immediately, as he is awaiting authorization to work in the United States. Until then, he will serve as an executive director under a Swiss employment agreement.

Marc Winterhoff, who has led the company since Rawlinson’s resignation in February 2025, will continue in his interim role before returning to his position as chief operating officer once Napoli formally takes over.

Uber Investment And Vehicle Commitments

Uber has committed an additional $200 million to Lucid and agreed to purchase 25,000 robotaxi-ready versions of the company’s upcoming mid-size vehicle. This increases Uber’s total investment in Lucid to $500 million and raises its minimum vehicle order to 35,000 units.

The agreement follows earlier collaboration between Uber, Lucid, and Nuro, including testing of modified Gravity SUVs for a robotaxi service planned in San Francisco later this year. The updated deal also reduces the minimum order of Gravity SUVs to 10,000 units.

Additional Funding From Saudi Backer

Lucid’s majority owner, the Public Investment Fund, is purchasing an additional $550 million in shares. The investment continues a series of financial commitments from Saudi Arabia that began with a major funding round in 2018.

Product Strategy And Production Goals

The company is focusing on scaling production of its Gravity SUV while preparing to launch vehicles based on a new mid-size platform targeting a price point around $50,000. Lucid has faced challenges in generating demand for its Air sedan, prompting a shift toward more accessible models.

To support these efforts, Lucid has implemented cost-cutting measures. In February, the company laid off 12% of its workforce and recently reduced contractor headcount at its Arizona manufacturing facility to improve efficiency.

Executive Compensation And Terms

Napoli’s compensation package includes a base salary of $1.5 million, a $1 million relocation payment, and stock grants valued at nearly $10 million. Additional performance-based equity incentives could increase total compensation significantly depending on company performance.

Operational Context And Challenges

Lucid’s leadership transition comes during a critical period as the company addresses production ramp-up, quality concerns related to the Gravity SUV rollout, and broader market pressures in the electric vehicle sector.

Featured image credits: Epoch Automotive

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