LUCID NAMES NEW CEO, EXPANDS UBER DEAL

The luxury EV maker ended a year-long search for a chief executive following Peter Rawlinson's sudden departure. The new CEO comes from an unconventional background—elevator and escalator manufacturer Schindler—rather than the automotive industry. The appointment coincides with Lucid's expanded robotaxi agreement with Uber, which increases the number of vehicles the companies will deploy. The expanded deal includes fresh investment from both Uber and Saudi Arabia's Public Investment Fund, Lucid's primary financial backer. Lucid has faced significant challenges, including production delays and cash burn concerns. The new CEO and capital injection signal the company's push to diversify revenue through robotaxi services beyond traditional luxury EV sales. The Uber partnership represents a key revenue stream as Lucid works toward profitability.