Dive Brief:
- Luxury electric vehicle maker Lucid Group confirmed in a press release that it has appointed Silvio Napoli, former chairman and CEO of Swiss multinational company Schindler Group, as its next CEO.
- Napoli is currently based in Switzerland and will relocate to the U.S. to serve in the role and join Lucid’s Board of Directors.
- Lucid COO Marc Winterhoff has been serving as interim CEO since February 2025 following the resignation of former CEO and CTO Peter Rawlinson.
Dive Insight:
Lucid cited Napoli’s decades of experience, operational expertise, financial discipline and track record of leadership to oversee its next phase of growth as it works to scale production of Lucid Gravity SUV and Lucid Air sedan, as well as develop a new mid-size EV platform it intends to launch later this year, per the release.
“On behalf of the Board, we are pleased to welcome Silvio as Lucid’s next CEO,” said Turqi Alnowaiser, Chairman of Lucid’s 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.”
Napoli joins Lucid as the company targets new streams of revenue. One of those is its robotaxi partnership with Uber Technologies as it works to achieve positive free cash flow and profitability in an uncertain EV market. In September 2025, Lucid closed on a $300 million investment from Uber to add up to 20,000 Gravity robotaxis to its ride-hailing platform over the next six years in dozens of global markets. Since then, it revealed a prototype robotaxi in January at CES, and a two-seat robotaxi concept called Lunar in March at the company’s Investor Day 2026 event in New York.
Although Lucid has yet to turn a profit, the company is betting on its new mid-size EV platform, partnership with Uber and autonomous driving technology development for its long-term success. Lucid is aiming for higher volumes with its upcoming mid-size EV platform, which is expected to start below $50,000.
In its 2025 earnings report released in February, Lucid reported an operating loss of roughly $3 billion in 2025, including $1 billion in Q4 alone, which CFO Taoufiq Boussaid said reflected “meaningful improvements” in its margins. Lucid also said it had $4.6 billion in liquidity to fund its operations through the first half of 2027. Now it needs to execute on its plans in a challenging EV market.
“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 in a statement. “We have laid out a clear vision and enhanced strategy, and I look forward to continuing that work alongside Silvio.”
