Lucid Motors has appointed Silvio Napoli as its new chief executive officer, and interim CEO Marc Winteroff will return to his prior role as chief operating officer.
Silvio Napoli joins Lucid from Schindler Group, where Silvio Napoli served as chief executive officer and built decades of manufacturing and large-scale operations experience. In a press release, Lucid said Napoli has a record of capital allocation, cost discipline and creating technology-enabled, service-oriented business models.
The hire comes as Lucid prepares three more affordable models to broaden volume and profit: the mid-size Lucid Cosmos SUV, the Lucid Earth and an off-road variant. Lucid plans to reveal the Cosmos this summer, priced under $50,000, with a lighter "Atlas" powertrain and extensive component sharing to boost margins.
This summary is based on coverage by Car and Driver.
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