Lucid Motors Names New CEO

The appointment of an industry outsider signals a strategic shift for Lucid as it pivots toward mass production and robotics.

The fresh capital injection includes expanded investment from Uber and the Saudi Public Investment Fund, which will support Lucid's growing robotaxi fleet.

Uber now plans to purchase at least 35,000 Lucid vehicles for its global operations.

Napoli faces the challenge of turning around the struggling EV maker amid cooling demand for high-end electric pickups and increased competition from Chinese manufacturers.