• Saudi investment fund takes $1 billion stake in Lucid Motors

    2 monthes ago - By High Gear Media

    Lucid Motors announced yesterday that it will receive a $1 billion investment from the Saudi Arabian public investment fund. Lucid is a Silicon Valley-based electric car builder working on a direct competitor to the Tesla Model S. In August, Tesla chief executive Elon Musk suggested that he had held talks with the same Saudi investment fund about...
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  • Saudi Arabia invests $1B in Tesla rival Lucid

    Saudi Arabia invests $1B in Tesla rival Lucid

    2 monthes ago - By High Gear Media

    Saudi Arabia may or may not be interested in taking Tesla private but the Middle Eastern country, via its Public Investment Fund , is ready to invest in rival electric car brand Lucid Motors. Silicon Valley-based Lucid confirmed Monday that the Saudis will invest $1.0 billion in the company, believed to be for a majority stake. The deal...
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