"Silvio Napoli, an auto-industry outsider, has been appointed as the new CEO of Lucid Motors, replacing interim CEO Marc Winterhoff, who will return to his role as COO."
"Napoli previously served as the CEO of Schindler Group, where he led large-scale global operations and has a strong track record in manufacturing excellence and cost discipline."
"Lucid Motors has not managed to hit the volumes needed to turn a profit, despite successfully creating the Lucid Air and Gravity models."
"The upcoming Cosmos and Earth EVs, starting at around $50,000, are seen as Lucid's best bet to achieve profitability, with the first model rolling off the production line later this year."
Silvio Napoli has been appointed as the new CEO of Lucid Motors, succeeding interim CEO Marc Winterhoff. Napoli, an outsider from the elevator industry, brings extensive manufacturing experience. His previous role as CEO of Schindler Group involved managing large-scale global operations. Lucid Motors faces challenges in achieving profitability despite successful vehicle designs. The company has laid off 12% of its workforce to cut costs and announced new funding to support its operations. Upcoming models, Cosmos and Earth EVs, are crucial for the company's financial success.
Read at insideevs.com
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