Uber Buys More Lucid Robotaxis, Company Names New CEO
▼ Summary
– Lucid has expanded its robotaxi deal with Uber, increasing the order from 20,000 to 35,000 Lucid Gravity SUVs for the fleet.
– Uber is investing an additional $200 million in Lucid, adding to its prior $300 million investment.
– Lucid is receiving another $500 million in investment from an affiliate of Saudi Arabia’s sovereign wealth fund.
– The company is appointing a new CEO, Silvio Napoli, who has a background in the elevator and escalator industry.
– This appointment concludes a 14-month search for a permanent replacement for former CEO Peter Rawlinson.
The landscape of autonomous mobility is shifting as Lucid Motors announces a significant expansion of its partnership with Uber alongside a major leadership change. The luxury electric vehicle manufacturer confirmed that Uber is substantially increasing its order of Lucid Gravity SUVs for a planned robotaxi fleet. The order has grown from 20,000 vehicles to 35,000, marking a major escalation in their collaborative effort.
This expansion builds on the foundational deal announced last year between Lucid, Uber, and the autonomous delivery firm Nuro. That agreement outlined a multi-year plan to deploy thousands of self-driving vehicles across the United States. The fleet will be managed either by Uber directly or through a third-party partner, with initial services slated to begin in San Francisco. A beta version of the service, currently operating with safety drivers, is already being tested by Uber employees in the Bay Area.
Concurrent with the larger vehicle order, Uber is increasing its financial commitment to Lucid. The ride-hailing giant is adding $200 million to the $300 million it invested last year. Uber has also channeled hundreds of millions into Nuro, which is developing the core self-driving technology for the robotaxis. In a separate capital infusion, Lucid is securing an additional $500 million from an affiliate of Saudi Arabia’s Public Investment Fund, which maintains a controlling interest in the EV company.
In a parallel strategic move, Lucid has named a new chief executive, concluding a 14-month search for a permanent leader. The company has appointed Silvio Napoli, a Swiss-Italian executive with over 30 years of experience leading a global manufacturer of elevators, escalators, and moving walkways. Napoli, who is based in Switzerland, plans to relocate to the United States for the role. He succeeds Peter Rawlinson, a former Tesla Model S chief engineer and Lucid co-founder, who stepped down in February of last year. Chief Operating Officer Marc Winterhoff had served as interim CEO during the search process.
(Source: The Verge)
