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Lucid Group, an EV maker, receives a $1 billion cash injection from an affiliate of Saudi Arabia's Public Investment Fund, providing a much-needed lifeline. The investment involves purchasing convertible preferred stock, boosting Lucid's financial position and market performance.
EV maker Lucid Motors signed a deal to raise $1 billion in funding from an affiliate of Saudi Arabia's Public Investment Fund (PIF), sending its shares soaring. https://t.co/UITzBDf4DD
Lucid (LCID) gets another $1 billion investment as it prepares to launch Gravity electric SUV https://t.co/gYW3EG53fB by @EVPeteJohnson
EV maker Lucid surges on $1 billion lifeline from Saudi investor https://t.co/2goVTv79NU via @business