Lucid Motors names new CEO, lands more money from Uber and Saudis | TechCrunch

Last day to exhibit your breakthrough to 10,000+ tech leaders at Disrupt is on Oct 2. Book Exhibit Table Now. Disrupt doors open Oct. 13. Get your pass and bring someone with you at 50% off. REGISTER NOW. Lucid Motors has finally found a new CEO in long-time industrial executive Silvio Napoli, marking the end of a more than year-long search following the sudden resignation of its former chief, Peter Rawlinson. The company on Tuesday said that Napoli, who has spent the last few decades in various leadership positions at elevator and escalator company Schindler Group, will also join its board of directors. Alongside the CEO appointment, Lucid said it has received another $200 million commitment from Uber, which has agreed to buy an additional 25,000 robotaxi-ready versions of Lucid’s upcoming mid-size vehicle. That brings Uber’s total committed investments in Lucid Motors to $500 million, and its minimum vehicle order to 35,000. Finally, Lucid’s majority owner, the Saudi Arabian Public Investment Fund, is purchasing another $550 million of its shares. The announcements come during an all-important year for Lucid Motors. The company is currently trying to ramp up production and sales