Lucid Appoints Industrial Leader Napoli as CEO, Expands Uber Robotaxi Deal to 35,000 Vehicles

Lucid Group announced the appointment of Silvio Napoli as Chief Executive Officer on April 14, 2026, ending a 14-month search for permanent leadership following Peter Rawlinson's departure. Napoli, who spent over three decades leading Schindler Group, an elevator and escalator manufacturer, will relocate from Switzerland to the United States and join Lucid's board of directors. Interim CEO Marc Winterhoff will transition to Chief Operating Officer upon Napoli's assumption of the role. The appointment signals a strategic shift toward operational and manufacturing expertise, moving away from the engineering-first culture that characterized Lucid's earlier leadership.

Simultaneously, Lucid secured $750 million in new capital and dramatically expanded its autonomous vehicle ambitions through Uber. Uber increased its total investment in Lucid to $500 million with an additional $200 million commitment, while Saudi Arabia's Public Investment Fund affiliate Ayar Third Investment Company contributed $550 million in convertible preferred stock. The ride-hailing company expanded its vehicle purchase commitment from 20,000 to at least 35,000 Lucid vehicles for its global robotaxi service, a 75 percent increase. This expanded fleet will include both the Lucid Gravity SUV and the upcoming Lucid Midsize platform, with production of midsize vehicles scheduled to begin by year-end.

The financing package, totaling $1.05 billion when combined with other capital sources, provides Lucid with a liquidity bridge into late 2027 and funds critical expansion initiatives. Capital will support production ramp-up of the Gravity SUV's Grand Touring and Touring trims, construction of a new manufacturing facility for the Midsize platform, and development of the "Lucid Earth" and "Lucid Cosmos" models priced under $50,000. Lucid produced 5,500 vehicles and delivered 3,093 in the first quarter of 2026, with full-year guidance of 25,000 to 27,000 vehicles representing 40 to 50 percent growth. The company targets 100,000 annual vehicle production by 2028, driven by the Cosmos entering production at its Saudi facility by year-end.

The expanded Uber partnership represents Lucid's strategic pivot from exclusive luxury manufacturing toward high-volume autonomous mobility services. Commercial robotaxi service is scheduled to launch in the San Francisco Bay Area in late 2026, with Nuro's autonomous technology powering the vehicles. Napoli's appointment emphasizes financial discipline and consistent execution, addressing investor concerns about the company's substantial cash burn of approximately $3.8 billion in 2025. The combination of experienced industrial leadership, substantial capital infusion, and expanded fleet commitments positions Lucid to compete in both the consumer EV market and the emerging autonomous ride-hailing sector.