Lucid Receives $1.5 Billion Lifeline from Saudi Investment Fund

An affiliate of Saudi Arabia's Public Investment Fund has thrown struggling electric car maker Lucid Group a $1.5 billion lifeline second one of the year. This comes as Lucid prepares to launch its first sport utility vehicle amid a downturn in the EV automotive space.

5 billion helps to solidify the relationship between PIF and Lucid further. There was some investor concern out there that should the PIF become frustrated with the company that they wouldn't provide any additional commitments.' Here's more commentary from Wall Street analysts courtesy of Bloomberg Citi analyst Itay Michaeli neutral Says the new $1.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Gen Z confident in investment skills despite saving lessA poll, of 2,000 adults, revealed 66 per cent of those under 27 years old believe they can grow their money best; however, it was Millennials, who were most likely to utilise a stocks and shares ISA.
Source: BelfastLive - 🏆 16. / 77 Read more »