Saudi Arabia invests $1bn in Tesla competitor Lucid
The Lucid Air, electric sedan is displayed during the New York International Auto Show at the Javits center in New York on April 13, 2017 (AFP Photo/TIMOTHY A. CLARY)/ Riyadh (AFP) - Saudi Arabia on Monday announced it has signed off on a $1 billion investment in US carmaker Lucid Motors with the aim of helping the Tesla rival roll out electric cars. The Public Investment Fund, which invests on behalf of the Saudi government, said the outlay was aimed at funding the commercial launch of the Lucid Air model in 2020, pending regulatory ...
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