Lucid Names New CEO

Silvio Napoli, the former chairman of industrial giant Schindler Group, takes the helm at Lucid as the company enters a critical production stretch.

The leadership change ends a year-long search following the resignation of Peter Rawlinson and signals a shift toward manufacturing efficiency and global scale.

The new funding will help shore up operations as Lucid expands its robotaxi partnership with Uber, which now plans to acquire at least 35,000 Lucid vehicles for its global fleet.

Investors responded positively to the news, with shares rising in early trading as the company looks to navigate a challenging market for high-end electric vehicles.