Lucid pumps $1.5B from Saudi wealth fund after CEO warned relying on its ‘bottomless wealth’ was ‘dangerous’

05 أغسطس 2024

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Lucid pumps $1.5B from Saudi wealth fund after CEO warned relying on its ‘bottomless wealth’ was ‘dangerous’ https://ift.tt/Xh1gR7m

Saudi Arabia is committing even more money to Lucid Motors as the EV startup struggles to erase its losses. Lucid announced Monday as part of its second-quarter earnings report that an affiliate of the Saudi sovereign wealth fund is committing another $1.5 billion, with half coming in the form of a private placement and the […]