Lucid Appoints New CEO and Secures $750 Million in Investment from PIF and Uber
Lucid Group has appointed Silvio Napoli as its new CEO and raised $750 million in fresh investment from the Public Investment Fund (PIF) and Uber Technologies. The funding includes $550 million from PIF and $200 million from Uber, which increases its total investment in Lucid to $500 million. The investment is accompanied by a commercial agreement expanding Uber's vehicle purchase obligation under its robotaxi program.
Topics: CEO Change Corporate Governance Funding Raise Investment Announcement Strategic Partnership