The purchase will take place over a 10-year period
Peter Rawlinson
Latest in Peter Rawlinson
electric carmaker
Ex-Tesla engineer takes over as CEO of Saudi-backed Lucid Motors
Saudi Arabia’s Public Investment Fund invested more than $1bn in a deal closed earlier this month
electric carmaker
Tesla rival Lucid Motors eyes Saudi manufacturing facilities
Lucid Motors is backed by Saudi Arabia’s Public Investment Fund
carmakers
Saudi-backed Lucid in talks to partner with carmaker on electric vehicle tech
Tesla-rival Lucid plans IPO in few years, chief technology officer Peter Rawlinson said
Elon Musk
Saudi’s Public Investment Fund breathes new life Into Tesla rival Lucid
Lucid had delayed the launch of the Air due to lack of funds, but now plans to start producing it in 2020
Elon Musk
Saudi Arabia’s PIF invests $1bn in Tesla rival Lucid Motors
The funding will be used to pave the way for the commercial launch of Lucid’s first electric vehicle, the Lucid Air, in 2020
