Tesla competitor backed with USD 1 billion
US-based electric carmaker Lucid Motors has just received a big capital injection from Saudi Arabia.
by riitzau finans
The Saudi Arabian Public Investment Fund (PIF) has entered a deal with Lucid Motors Inc. and is investing up to USD 1 billion in the company. As Lucid Motors makes electric cars, the company will compete with Tesla for market shares, reports Bloomberg News.
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