Lucid names Silvio Napoli CEO as it seeks scale and profitability

Lucid is handing its next phase to an industrial operator, naming Silvio Napoli chief executive effective April 15 and adding him to the board as the electric-vehicle maker tries to prove it can turn faster production into durable profits. The company said Marc Winterhoff will shift from interim chief executive to chief operating officer, preserving day-to-day continuity while Napoli relocates from Switzerland to the United States. The move follows a more than year-long search after Peter Rawlinson’s sudden resignation, making the appointment a test of whether Lucid wants execution discipline as much as ambition.

Napoli’s background fits that message. He led Schindler Group as chairman and chief executive and also serves on the board of Eaton Corp., giving him experience in global industrial operations, manufacturing and power-management businesses rather than the consumer-facing profile often associated with electric-vehicle brands. Lucid’s board appears to be betting that those skills matter more now than another charismatic product evangelist.

The leadership change landed alongside a major financing and commercial expansion. Lucid said it secured $750 million in new investment from Ayar Third Investment and Uber. Ayar will buy $550 million of Lucid convertible preferred stock, while Uber will add $200 million, bringing its total investment in Lucid to $500 million. The companies also expanded their robotaxi commitment to at least 35,000 Lucid vehicles, including the Gravity SUV and future midsize models. That ties the CEO transition directly to capital, commercial demand and the company’s ability to scale production.

The operating numbers show why the board is emphasizing industrial rigor. Lucid produced 18,378 vehicles in 2025 and delivered 15,841, increases of 104% and 55% from 2024. In the fourth quarter alone, it produced 8,412 vehicles and delivered 5,345. For 2026, Lucid is guiding to production of 25,000 to 27,000 vehicles, a range that still requires a meaningful ramp from last year’s volume.

The first quarter underscored both progress and fragility. Lucid said it produced 5,500 vehicles and delivered 3,093, and that Gravity deliveries were disrupted for 29 days because of a supplier quality issue involving second-row seats. The company said the issue had been addressed and reaffirmed its 25,000-to-27,000 vehicle production target for the year.

Lucid’s next midsize platform is scheduled to start production in late 2026, adding another layer to the challenge Napoli inherits. The company is trying to move beyond a niche luxury brand and into a business with steadier volumes, tighter costs and a clearer path to profitability. In that sense, the board’s choice is not just a succession decision. It is a credibility test.