Lucid Motors raises another $1 billion from Saudi Arabia as it searches for luxury EV buyers

This post is by Sean O’Kane from TechCrunch

Lucid Motors is raising another $1 billion from its biggest financial backer, Saudi Arabia, as it looks to blunt the high costs associated with building and selling its luxury electric sedan. The company announced in a Monday morning regulatory filing that Ayar Third Investment, an affiliate of Saudi Arabia’s Public Investment Fund, has agreed to […] © 2024 TechCrunch. All rights reserved. For personal use only.