Lucid Finds Its New CEO, Expands Robotaxi Partnership With Uber
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Lucid, a California-based luxury EV maker, has appointed a new CEO and secured $750 million in new funding from Uber and Saudi Arabia's sovereign wealth fund. The company is expanding its partnership with Uber to deploy at least 35,000 robotaxis, including its Gravity SUV and future midsize models, over the next five years.
Lucid has appointed Silvio Napoli as its new CEO. Napoli previously served as CEO of Schindler Group, a manufacturer of elevators and escalators. The company has secured $750 million in new funding, including $200 million from Uber and $550 million from Ayar Third Investment Company, an affiliate of Saudi Arabia's Public Investment Fund. Lucid is expanding its partnership with Uber to deploy at least 35,000 robotaxis. The partnership includes the deployment of Lucid's Gravity SUV and future midsize models. The news comes as the EV industry in the US faces challenges, including policy changes and growing competition from China.
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