Lucid Names Silvio Napoli Permanent CEO, Secures $1B in New Funding

Lucid Group has appointed Silvio Napoli as its permanent CEO, ending its search for a new leader. Napoli, former CEO of Schindler, the Swiss elevator and escalator company, succeeds interim chief Marc Winterhoff, who will remain as chief operating officer.

Napoli brings a decade of experience at Schindler, where he modernized operations and supply chains. He is currently relocating to the U.S. to take on his new role.

The company highlighted Napoli’s operational expertise and financial discipline as key factors in his selection. “On behalf of the Board, we are pleased to welcome Silvio as Lucid’s next CEO,” said Turqi Alnowaiser, chairman of the Lucid Board of Directors, in a statement. “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.”

Winterhoff took over as interim CEO in February 2025, following the departure of Lucid’s founder and first CEO, Peter Rawlinson. Since then, he has overseen the production ramp-up of the company’s second vehicle, the Gravity midsize SUV, and guided Lucid’s shift toward autonomous driving.

“The past year has been an important period of progress for Lucid, and I’m proud of the work the team has done to strengthen our operations and execution,” Winterhoff said. “We have laid out a clear vision and enhanced strategy, and I look forward to continuing that work alongside Silvio.”

In addition to the leadership change, Lucid announced it has secured over $1 billion in new investments. These include:

• $550 million from Ayar Third Investment Co.’s purchase of convertible preferred stock. Ayar is part of the Saudi Public Investment Fund, Lucid’s largest shareholder.
• $500 million from Uber, which is increasing its investment in Lucid. As part of this agreement, Uber has also committed to purchasing 35,000 Lucid vehicles, including Gravity SUVs and the upcoming midsize offering, expected to be priced under $50,000.

The partnership between Lucid and Uber extends to autonomous vehicle technology developer Nuro.

Luxury EV maker Lucid also revealed it is expanding its credit line to $2.5 billion, supported by a public offering expected to raise approximately $300 million.