Lucid appoints new CEO and secures additional $750 million
The new CEO, Silvio Napoli, succeeds interim CEO Marc Winterhoff, who temporarily took over the management of Lucid after former CEO Peter Rawlinson departed earlier this year. Winterhoff will remain with the company following Napoli’s appointment, assuming the role of Chief Operating Officer (COO) at Lucid.
Silvio Napoli brings more than three decades of experience from his time at Schindler, where he most recently held the dual role of CEO and Chairman until early 2025.
During his tenure, the company pushed ahead with the electrification of its fleet at scale. In Germany, Schindler’s local subsidiary reached a milestone last year with the delivery of its 1,000th Škoda Enyaq.
“Silvio is a proven global leader with deep experience leading complex, technology‑driven organizations through periods of rapid growth and operational scaling. He brings a strong track record of global manufacturing excellence, operational discipline, driving growth across global markets and leading state-of-the-art customer service. His expertise in capital allocation, operational efficiency and translating advanced technology into consistent high-quality performance over time will be critical as Lucid continues to scale and execute its strategy,” said Turqi Alnowaiser, Chairman of the Board of Directors at Lucid.
“Lucid has established a strong foundation built on technology leadership and an expanding product portfolio, including Lucid Air, Lucid Gravity, and the upcoming Midsize vehicles,” added Napoli. “Working with Marc [Winterhoff] and the executive team, my focus will be on consistent execution, financial discipline and helping translate Lucid’s breakthrough innovations into long-term value.”
While Lucid has launched models such as the Lucid Air and Lucid Gravity, which have been widely praised by automotive testers, these vehicles come with a high price tag and are produced in limited volumes. As a result, the company has yet to achieve profitability, accumulating a cumulative loss of $15.6 billion since its founding by the end of 2025. Recently, interim CEO Winterhoff initiated several measures, including the layoff of 12% of the workforce in February. High hopes are also pinned on the launch of the company’s first mid-range models and a robotaxi partnership with Uber.
The partnership with Uber is now being expanded, bringing additional capital into Lucid Motors. The ride-hailing provider has raised its purchase commitment from at least 20,000 to a minimum of 35,000 vehicles, which are to be used exclusively in Uber’s planned global robotaxi network.
The first robotaxis, based on the Lucid Gravity, are scheduled to go into service in the San Francisco Bay Area later this year, with a broader rollout to additional cities already planned.
As part of the expanded agreement, Uber is investing a further $200 million in Lucid Motors, bringing its total commitment to $500 million.
In parallel, Ayar Third Investment – a subsidiary of Saudi Arabia’s Public Investment Fund (PIF) – has pledged an additional 550 million US dollars. Ayar/PIF is already the largest single shareholder in Lucid and played a key role in establishing the company’s production facility in Saudi Arabia.
The fresh capital from Uber and Ayar/PIF is intended to strengthen Lucid’s financial position and support the further development of its software-defined vehicles and broader platform strategy.
Update 1 June 2026
Lucid Group has officially appointed Silvio Napoli as Chief Executive Officer, completing the leadership transition announced in April. Napoli succeeds interim CEO Marc Winterhoff, who has returned to his previous role as Chief Operating Officer and will report to Napoli.
“On behalf of the Board, we are pleased to have Silvio as CEO at this important stage for Lucid,” said Chairman Turqi Alnowaiser.
Napoli said Lucid will focus on ‘strengthening customer engagement, operating with consistency and accountability, achieving cost competitiveness and streamlining our organisation and processes.’
lucidmotors.com (Napoli), lucidmotors.com (funding), lucidmotors.com (update)
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