Lucid Motors has appointed Silvio Napoli as its new CEO, ending a year-long search for a permanent leader. The company is also receiving further investment commitments from Uber and the Saudi Arabian Public Investment Fund.

Napoli, who previously held leadership roles at Schindler Group, will join Lucid's board of directors. This brings Uber’s total committed investments in Lucid to $500 million for a minimum of 35,000 vehicles.

Lucid is currently working on ramping up production and sales of its second model, the Gravity SUV, after struggling with market acceptance for its Air sedan. The company has also reduced workforce and contractor headcount at its Arizona factory to improve cost efficiency.

The Saudi investment is part of a long-term relationship that began in 2018 as an attempt to save the company from financial distress. Last month, Uber and Nuro started testing modified Lucid Gravity SUVs for their robotaxi service in San Francisco.

The appointment of Napoli marks a new chapter for the company amid critical challenges, with hopes that he will lead Lucid towards greater success.