Until recently, electric-car startup Lucid Motors Inc. was in dire financial straits. Saudi Arabia has come to the rescue. Just weeks after it emerged that the kingdom’s Public Investment Fund had built a stake in Tesla Inc., the sovereign wealth giant
In Rare Step, Saudi’s Sovereign-Wealth Fund Raises $11 Billion LoanWall Street Journal
Saudi Arabia invests $1 billion in potential Tesla rivalCNNMoney
Lucid Electric Car Startup Signs $1B Investment Pact With Saudi Wealth FundForbes
Ars Technica -U.S. News & World Report -TechCrunch
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Source: TECH