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Lucid Appoints Silvio Napoli as CEO and Raises $1 Billion

Lucid named Silvio Napoli as CEO and raised $1 billion to boost liquidity. Funding from Saudi investors and Uber will support its upcoming robotaxi expansion.

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LUCID GROUP INC has appointed Silvio Napoli, the former top executive at SCHINDLER HOLDING AG-REG, as its next chief executive officer. The electric vehicle manufacturer simultaneously announced it is raising more than $1 billion to bolster its liquidity during a capital-intensive manufacturing ramp-up.

A close-up of the Lucid emblem on a vehicle displayed at the New York International Auto Show in April 2026. Photo: REUTERS/Jeenah Moon
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