Lucid secures $1bn investment from Saudi PIF affiliate for EV technology market growth.
Lucid's stock soars as it secures a $1bn investment from Saudi Arabia's PIF affiliate. The electric vehicle maker will use the funds for general corporate purposes, including capital expenditures and working capital. This investment supports Lucid Group's ambition to solidify its position as a leader in the EV technology market. The Saudi Public Investment Fund, which already owns 60% of the company, continues to show strong support for Lucid's growth and development.
March 25, 2024
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