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Silvio Napoli

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automotive1 day ago•4 min saved

Lucid Q3 deliveries fall 7% as CEO Napoli cuts output to clear inventory

Lucid delivered 3,806 vehicles in Q3 2026, down 7% year-over-year, while production dropped 38% to 2,954 units. CEO Silvio Napoli intentionally cut output to sell down excess inventory, marking the first quarter where deliveries exceeded production. The company targets $1.4 billion in cash flow improvements this year, with $600 million to $800 million expected from inventory sales. Full financial results are due November 9.

via electrek.co|

#automotive #ev-deliveries #inventory-management

business1 day ago

Lucid Q3 Deliveries Fall 7% as Production Plunges to Clear Inventory

Lucid Group reported 3,806 vehicle deliveries in the third quarter of 2026, a 6.7% year-over-year decline. Production dropped sharply to 2,954 units, marking the first quarter under CEO Silvio Napoli’s operational reset. The company intentionally reduced output to clear excess inventory accumulated earlier in the year, with deliveries exceeding production for the first time in 2026. Lucid aims for $1.4 billion in cash flow improvements this year, primarily through inventory sales and reduced capital spending. Shares closed at $4.17, down over 60% this year, as investors await full financial results on November 9.

via CNBC|

#business #electric-vehicles #inventory-management

business3 months ago•6 min saved

Lucid Reboots C-Suite Under New CEO After 18% Layoffs

Lucid Motors is executing a near-complete C-suite overhaul under new CEO Silvio Napoli, following an 18% layoff and withdrawal of 2026 production guidance. The leadership reset brings in CFO Alexander De Bock, CTO Raja Ramana Macha, and senior executives Billy Hayes (Chief Customer Officer), Hugo Martinho (Chief Transformation Officer) and Kay Stepper (President of Lucid Technologies and Chief Digital Officer), plus a Lucid Technologies unit focused on robotaxis and AI. The moves aim to simplify the organization and boost accountability as Lucid posts Q2 production of 4,774 and deliveries of 3,953 (about 7,000 in H1), signaling a tighter path to execution ahead of the August earnings call.

via Electrek|

#business #c-suite-shake-up #layoffs

business5 months ago•2 min saved

Lucid Names Industry Outsider as CEO as It Secures $750 Million in Fresh Funding

Lucid Motors named Silvio Napoli, an industry outsider and former CEO of Schindler Group, as its new CEO to replace interim leader Marc Winterhoff. Napoli will relocate to the U.S. as the company also confirms a fresh $750 million runway: $550 million from the Saudi Public Investment Fund and $200 million more from Uber, which will increase its Gravity SUV order to 35,000 for robotaxi use (up from 20,000). The automaker has struggled with production volumes, cut about 12% of its workforce, and is betting on the Cosmos and Earth EVs later this year.

via InsideEVs|

#business #gravity-suv #lucid-motors