Tesla Competitor Lucid Gets Big Funding from Saudi Sovereign Wealth Fund
Posted on 12/20/2022
Electric vehicle maker Lucid Group Inc. completed a planned US$ 1.515 billion equity offering. The EV maker first announced the offering in November 2022. Saudi Arabia’s Public Investment Fund (PIF) (through Ayar Third Investment Co.) subscribed to the majority of the raise of nearly 85.7 million shares at around US$ 915 million. The remaining US$…
