Lucid Motors Has A New CEO And A Bunch More Funding
- Lucid Motors has hired a new CEO.
- Silvio Napoli will step in as the new head of the automaker, replacing interim CEO Marc Winterhoff.
- Napoli comes from a completely different industry—but that might be exactly what Lucid needs.
Lucid Motors announced on Tuesday that it’s bringing in a new captain to steer the ship. Enter Silvio Napoli, a name that you probably haven’t heard before. There’s a good reason for that; he’s an auto-industry outsider.
Napoli will replace Lucid’s interim CEO Marc Winterhoff, who will return to his role as COO. The appointment comes over a year after Peter Rawlinson, the automaker’s longtime CEO, resigned suddenly in February of 2025.
Napoli formerly served as the CEO of Schindler Group, an industrial manufacturer of elevators, escalators, and moving walkways. In a press release, Lucid highlighted Napoli’s experience with manufacturing and scaling a business.
“During his tenure, he led large‑scale global operations across complex markets, with a strong track record in manufacturing excellence, cost discipline, capital allocation, and building and leading resilient, high‑performing organization,” the automaker said.
Napoli addressed this in an interview with Bloomberg as well. He noted that his “industrial global experience,” as well as “combining industrial manufacturing and service [to build] a brand” were part of the company’s belief which landed him the job.
Lucid, like any auto startup, has a tough road ahead. While the firm has nailed making the Lucid Air and Gravity marvels of modern automotive engineering, it has not managed to hit the volumes needed to turn a profit. The upcoming Cosmos and Earth EVs, starting at around $50,000, are Lucid’s best bet to do that, and the first of those begins rolling off the production line later this year. Lucid also laid off 12% of its workforce this year in a bid to manage costs.
On Tuesday, Lucid also announced new funding to extend its runway. The Saudi Public Investment Fund will purchasing another $550 million in shares. Uber also announced that it would increase its capital investment into Lucid by an additional $200 million, bringing its total commitment to $500 million. Lucid also announced that Uber will now buy at least 35,000 Gravity SUVs for robotaxi operations, up from 20,000.
Napoli won’t begin his role as CEO immediately. Winterhoff will remain in the interim CEO position until Napoli can relocate from Switzerland to the U.S. Lucid says this will happen “in the coming weeks” once Napoli completes the U.S. visa process.
