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02 Jun

Saudi Arabia’s PIF provides new lifeline to Lucid Motors

US electric vehicle start-up Lucid Motors is receiving new lifeline support from its Saudi majority shareholder, proving funds to keep it running until 2025, Kallanish reports. The company plans to raise $3 billion in a deal that includes the public offering of 173.54 million common shares and a private placement of 265.69m shares. The latter translates into a $1.8 billion investment from Ayar Third Investment Company – an affiliate of Saudi Arabia’s …
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