The electric vehicle maker Lucid Group (LCID 4.92%) announced this morning that it has hired Silvio Napoli to lead the company.
Napoli has over three decades of experience at the Schindler Group, which makes escalators and elevators. He previously served as the company’s CEO and chairman of the board of directors.
Interim CEO Marc Winterhoff, who has been serving in the role since February 2025 following the sudden departure of former CEO Peter Rawlinson, will remain with the company as chief operating officer.
Image source: Getty Images.
In addition to the CEO change, Lucid announced a new $750 million financing round from its largest shareholder, an affiliate of Saudi Arabia’s sovereign wealth fund, and Uber, which had previously made a commitment to the company.
Do these changes now make Lucid Group a buy?
Still a long journey ahead
For investors who have watched Lucid Group’s stock plummet over the years, change is likely welcome.
Lucid touted Napoli’s “deep operational expertise, financial discipline, and track record of leadership in innovation” as a critical piece that will help it forge ahead with its growth initiatives, including mid-sized electric vehicles and autonomous initiatives.
Lucid grew revenue by 68% in 2025, but its operating losses also grew to roughly $3.5 billion. The company also still has a high cash burn, with cash and equivalents down over $600 million at the end of 2025 from the prior year.
Given the difficult environment for electric vehicles, investors can’t count on revenue growth to power the stock. They will need to see losses and cash burn slow.
Today’s Change
(-4.92%) $-0.46
Current Price
$8.79
Key Data Points
Market Cap
$3.0B
Day’s Range
$8.68 – $10.08
52wk Range
$8.32 – $33.70
Volume
798K
Avg Vol
7.2M
Gross Margin
-9280.51%
New investments from powerful players, such as Saudi Arabia’s sovereign wealth fund, which is investing $550 million, and Uber, are a good sign. Uber’s investment had already been announced, but it appears to have been expanded, with Uber investing another $200 million in the company.
The ride-hailing giant has also now promised to purchase at least 35,000 Lucid vehicles for its planned future robotaxi service, up from a 20,000-vehicle commitment last July.
I think it’s fair for investors to be bullish on both pieces of news today, but still too early to buy the stock, which has a roughly $2.9 billion market cap. Napoli still has a lot to execute on before the company is more stable.
Wall Street analysts, on average, project Lucid to grow revenue by another 67% in 2026 but still lose $7.34 per share. That’s an improvement from last year, but not enough reason to turn bullish.
