Lucid Names Silvio Napoli CEO, Raises $750M

Lucid Group, the electric vehicle manufacturer, announced on Tuesday the appointment of Silvio Napoli as its new chief executive officer, along with a $750 million financing round from key investors. The move comes as the company seeks to stabilize operations and expand production amid ongoing challenges in the EV market.

Napoli, who spent more than three decades at Schindler Group, the Swiss-based elevator and escalator manufacturer, most recently served as its chairman and CEO. He is credited with modernizing the company's global supply chain and driving expansion into Asian markets. Napoli will also join Lucid's board of directors and relocate from Switzerland to the United States. His start as CEO is expected within weeks, pending approval of his U.S. work visa. Until then, he will serve as an executive director under a Swiss employment contract.

Interim CEO Marc Winterhoff, who assumed the role in February 2025 after the abrupt departure of founder Peter Rawlinson, will transition back to chief operating officer. Lucid highlighted Napoli's operational expertise, financial discipline, and innovation track record as essential for executing growth strategies, including the...