Saudi Wealth Fund Pumps $1B Into Tesla Rival

Posted by Tom Kool

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First Tesla. Now Lucid. Saudi Arabia’s Pension Investment Fund (PIF)—the Kingdom’s sovereign wealth fund—is gunning for electric vehicle glory, but it’s dipping its fingers in multiple pies.

On Monday, Lucid Motors managed to close a $1-billion deal with Saudi Arabia to fund the 2020 commercial launch of its first EV, the Lucid Air. CLICK for complete article

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