Lucid Names New CEO

Lucid said on April 14 that Silvio Napoli will become chief executive, handing the electric-vehicle maker to an industrial operator after more than a year under an interim boss. (lucidmotors.com) Napoli previously led Schindler Group, the Swiss elevator-and-escalator manufacturer, and Lucid said he will also join its board. Marc Winterhoff, who has been interim chief executive, will return to the chief operating officer job. (lucidmotors.com) Lucid’s shares rose more than 4% in premarket trading after the announcement, according to Reuters, while CNBC reported the stock was up about 5% early Tuesday. CNBC also said Napoli’s start depends on his relocation from Switzerland and a United States visa process. (reuters.com | cnbc.com) The change comes after founder Peter Rawlinson stepped down on February 25, 2025, and moved into a strategic technical advisor role to the board chairman. Lucid said at the time that it had started a formal search for its next chief executive. (prnewswire.com) Lucid is no longer just trying to prove it can build a luxury sedan. In its February 24, 2026 results, the company said it delivered 15,841 vehicles in 2025, posted $1.35 billion in annual revenue, and ended the year with about $4.6 billion in total liquidity. (ir.lucidmotors.com) The company told investors it plans to produce 25,000 to 27,000 vehicles in 2026, while ramping the Gravity sport utility vehicle, preparing midsize models, and pushing software, autonomy, and robotaxi programs. Lucid framed Napoli’s hire around “operational discipline,” cost control, and scaling manufacturing. (ir.lucidmotors.com | lucidmotors.com) That makes the choice notable: Napoli is not a traditional car executive. CNBC described him as an “auto industry outsider,” a break from Rawlinson, an engineer who had become the public face of Lucid’s technology-first identity. (cnbc.com | prnewswire.com) Lucid paired the leadership move with fresh capital and a wider Uber partnership. CNBC reported $750 million in expanded investment from an affiliate of Saudi Arabia’s Public Investment Fund and Uber, including another $200 million from Uber and a plan for Uber to buy at least 35,000 Lucid vehicles for a future robotaxi service. (cnbc.com) For Lucid, the handoff puts a manufacturing-and-finance specialist in charge as the company tries to turn rising deliveries into steadier cash flow. The next test is whether Napoli can make Lucid’s production targets, Gravity rollout, and profitability push line up at the same time. (lucidmotors.com | ir.lucidmotors.com)