Lucid Names CEO as Saudi PIF, Uber Commit Another $750 Million

Lucid currently makes a Lucid Air sedan and the Gravity SUV.
Photographer: Andrey Rudakov/Bloomberg

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By Kara Carlson and Edward Ludlow

April 14, 2026 at 11:01 AM UTC

Updated on

April 14, 2026 at 1:33 PM UTC

Lucid 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.