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Lucid Motors gets a $1 billion investment for Gravity SUV launch
EV startup Lucid (LCID) just received another $1 billion investment from Saudi Public Investment Fund (PIF) affiliate Ayar Third Investment...
“We are extremely pleased to receive this strong, continued support from the PIF, as we work to solidify our place as the world’s leading EV technology company,” Lucid CEO Peter Rawlinson said. Lucid announced an agreement with Ayar Third on Monday to purchase $1 billion in newly created convertible preferred stock. Rawlinson called PIFs support “a key differentiator” as it looks to accelerate deliveries, reduce costs, and launch its first electric SUV, the Gravity.
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