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Lucid Hires New CEO, Receives Fresh Investment from Backers
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April 14, 2026
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6:13Now PlayingLucid Group Inc. named a new chief executive officer and announced $750 million of fresh investment from its two biggest backers as the electric-car maker looks to shore up operations at a crucial juncture.
Silvio Napoli, the former head of Swiss elevator manufacturer Schindler Holding AG, will become Lucid’s CEO in the coming weeks after approval of a US work visa, the automaker said Tuesday. Marc Winterhoff, who has served as Lucid’s interim CEO since February 2025, will return to the role of chief operating officer.
“My job is to come in and make a sustainable business out of this incredible company,” Napoli said in an interview with Bloomberg Television. He acknowledged his goal of making Lucid more resilient will be “a lot of work.”
Separately Tuesday, Lucid said it received a commitment for another $550 million from an affiliate of Saudi Arabia’s Public Investment Fund, the EV maker’s majority shareholder. Lucid also expanded its relationship with robotaxi partner Uber Technologies Inc., which will invest another $200 million and purchase more vehicles than it initially agreed to last year.
Bloomberg Global Autos Editor, Craig Trudell, joins Paul Sweeney and Scarlet Fu on "Bloomberg Intelligence" to discuss the growth potential for Lucid, as well as the problems new CEO Silvio Napoli will face in this role. In March, Uber President Andrew Macdonald had said the companies were looking to expand the partnership, and also unveiled a two-seater robotaxi prototype without a steering wheel or pedals. Uber began early test rides of Gravity SUV robotaxis in the San Francisco Bay Area this month using safety drivers.
Napoli said the partnership with Uber and Nuro represents a massive opportunity “that goes beyond the addressable market you have today in automotive and EV.”
Lucid aims to produce 25,000 to 27,000 Air sedans and Gravity SUVs this year, below what Wall Street was expecting. The measured outlook would still be an increase of as much as 51% from the year before. Lucid produced 5,500 vehicles in the first quarter.
Read More: Lucid Sees Muted Output Gains in 2026 as US EV Demand Slows
Lucid’s forthcoming midsize vehicle, which is expected to start around $50,000 and will be aimed at the mass market, is scheduled to go into production late this year.
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