Lucid losses put Saudi Arabia’s EV strategy in the headlamps – Reuters
- Date: 11-May-2023
- Source: Reuters
- Sector:Financial Markets
- Country:Saudi Arabia
Lucid losses put Saudi Arabia’s EV strategy in the headlamps – Reuters
[1/2] A logo is seen on the wheel of a Lucid Air Dream Edition parked at the Nasdaq MarketSite as Lucid Motors (Nasdaq: LCID) began trading on the Nasdaq stock exchange after completing its business... Read more
DUBAI, May 10 (Reuters) - Lucid's electric vehicles are often displayed prominently at public events and financial conferences in Saudi Arabia to symbolise its crown prince's multi-billion dollar "Vision 2030".
The electric car maker is among the biggest U.S. investments by Saudi Arabia's Public Investment Fund (PIF) which has been tasked with driving the kingdom's ambitious plan to cut its reliance on oil revenue.
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