Lucid Appoints New CEO and Secures Funding; PPI Rises Due to Energy Prices
Lucid Group has appointed Silvio Napoli as its new CEO and secured a $750 million investment from Saudi Arabia’s Public Investment Fund and Uber. The move comes as the company seeks to address production bottlenecks and improve financial discipline. Meanwhile, producer prices rose 0.5% in March, driven by an 8.5% increase in energy costs.
Topics: CEO Change Investment Lucid Group Robotaxis Saudi PIF Uber