Lucid names auto industry outsider as CEO, expands Uber deal
Lucid electric vehicles appeared at the New York International Auto Show on April 2, 2026.
Danielle DeVries | CNBC
Lucid Group The industrial escalator and elevator maker has appointed the former chairman and CEO of Schindler Group as its new CEO.
Silvio Napoli, who spent nearly 31 years at Schindler, is set to become the all-electric vehicle maker’s second CEO following the sudden departure of Lucid founder Peter Rawlinson in February 2025.
Interim CEO Marc Winterhoff will remain with the company as chief operating officer when Naples takes over, according to Lucid. Napoli is expected to move from Switzerland and take over as CEO in the coming weeks until the U.S. visa process is completed, a company spokesman said.
Shares of Lucid fell nearly 5% in midday trading, the company also announced Expanded investments on Tuesday $750 million from an affiliate of the Saudi Arabian Public Investment Fund (its largest shareholder); and Uber Technologies.
The second is an expansion of a previously announced deal with Uber that involved the ride-hailing company investing another $200 million in Lucid. Uber has also agreed to purchase at least 35,000 Lucid vehicles specifically designed for use as part of Uber’s future global robotaxi service. This is up from the $300 million and 20,00 vehicles announced in July.
According to Lucid, the PIF-backed investment is $550 million.
The selection of Napoli, who also serves on the board of directors of American-Irish multinational energy management company Eaton Corp., marks a significant change of direction from Lucid’s automotive veterans Rawlinson and Winterhoff.
company of Naples “Deep operational expertise, financial discipline and a track record of leadership in innovation” will position Lucid for future growth plans, including upcoming midsize EVs and new autonomy initiatives.
“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,” Lucid Chairman Turqi Alnowaiser said in a statement.
