EV maker Lucid signs deal to raise $1 billion from Saudi’s PIF affiliate

“πŸš— Electric vehicle maker Lucid secures $1 billion investment from Saudi Arabia’s PIF affiliate, strengthening their position in the market. πŸ’° #EV #investment”

The Saudi PIF has a 60 percent stake in the EV maker and will be able to convert the preferred stock into about 280 million shares.

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