Lucid pumps $1.5B from Saudi wealth fund after CEO warned relying on its ‘bottomless wealth’ was ‘dangerous’

Saudi Arabia is committing even more money to Lucid Motors as the EV startup struggles to erase its losses. Lucid announced Monday as part of its second-quarter earnings report that an affiliate of the Saudi sovereign wealth fund is committing another $1.5 billion, with half coming in the form of a private placement and the […]
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